New Zealand 1933 Silver Pattern Shilling KM# Pn 3 PCGS SP65
| We Last Sold This Item For: | $52,500.00 |
|---|---|
| Last Sold On: | 6/4/2020 |
| # Sold In Past 12 Months: | 0 |
New Zealand 1933 Silver Pattern Shilling KM# Pn 3 PCGS SP65
Obverse: Coronate bust of George V to left, legend around
Reverse: Kiwi above denomination and date
Provenance:
Ex Herbert Seaby collection, May 1956. Mr. Seaby had indicated he obtained the piece from “a mint official” (presumed to be the Deputy Master Sir Robert Johnson).
Ex Richard Margolis collection, July 1965. Mr Margolis states in the letter that he had purchased the piece from Herbert Seaby in May 1956.
Ex Edwards Metcalf Collection, Lot #7229, Superior Galleries Auction (June 1987). Estimate: $1,500, Hammer: $13,000, Nett: $14,300. Accompanied at that time by a letter addressed to the consignor (Metcalf) stating the purchase of this piece from Richard Margolis in July 1965.
Lot #1838, Noble Numismatics Auction 42 (July 1993). Estimate: $20,000, Hammer: $25,500, Nett: $25,500.
Ex Private collection (Sydney) Monetarium, June 2001.
Pivotal to the history of New Zealand's national coinage.
The 1933 pattern Kiwi shilling is one of New Zealand’s most historic coins, and also lays claim to the title of New Zealand’s rarest coin. Only two examples were struck, its existence is testament to the robust process that conceived New Zealand’s proud national coinage.
It is believed to have been struck between August and October 1933, at least two months before the first New Zealand coins entered circulation, and during the period in which proposed designs were moving from theory to tangible reality.
The designs for New Zealand's national coinage were arrived at by a tender process - two leading coinage designers were briefed about the project - George Kruger Gray and Percy Metcalfe. When the Royal Mint Advisory Committee met to discuss the proposed designs in June 1933, each of the designs submitted by both artists were discussed in great detail. Kruger Gray’s proposed design for the half-crown was accepted subject to several minor amendments, while his initial design for the shilling was generally liked, “… the representation of the bird, in particular, being approved by the representatives of New Zealand.” The initial designs for the smaller denominations were either rejected outright or referred for significant modifications.
A "Coinage Committee" that had been convened by Finance Minister George Coates met several times throughout May and June. In stark contrast to tacit approval of the initial series of designs by Prime Minister George Forbes, in their first report delivered July 1st 1933, the Coinage Committee resolved to recommend “truly distinctive designs”, even if this delayed the coins being issued. They proposed that the kiwi be represented on the florin; that a crouching Maori figure be represented on the shilling; the huia bird was to feature on the sixpence, while the threepence was to show “two Maori panels”.
These suggestions were eventually implemented, but not before this pattern was struck. The Deputy Master of the Royal Mint continued to correspond with the Coinage Committee as the coins were introduced into circulation in the early months of 1934. In one letter, he continued to demonstrate his faith in Kruger Gray’s initial designs “…the kiwi would have looked more effective on the shilling and the crouching Maori figure on the florin.”
As time passed, the adage that “all’s well that ends well” was proven yet again. The introduction of New Zealand’s national coinage brought an end to the illicit export of coins to Australia and Great Britain and engendered a great deal of national pride.
It is perhaps telling that the provenance of both of the 1933 pattern Kiwi shillings can be traced back to the Deputy Master of the Royal Mint, Sir Robert Johnson. The shilling was the most contentious denomination in the series, the revised design was the one most likely to be rejected for technical reasons once it was tested under manufacturing conditions.
Although a cable dated 29th September 1933 stated that “…all dies based on designs approved in principle by yourself [Prime Minister Forbes] completed and ready striking coins…”, patterns of the sixpence, florin and half crown have never been sighted.
A pattern of Kruger-Gray’s version of the Tiki threepence reverse design is held by the Reserve Bank of New Zealand, at present, it is not known in private hands.
The 1933 pattern Kiwi shilling has chronological, if not historical, precedent over the well-known 1935 pattern Waitangi crown. The idea of a commemorative crown was not even proposed until late October 1933, Percy Metcalfe’s first design was not presented to the Royal Mint Advisory Committee until July 1934, and the famed pattern Waitangi crown (last sighted at auction in Sydney in November 1989, and rather sensationally now believed to have been lost to collectors) was not prepared until the middle of 1935.
That pattern Waitangi crown represented just one of the five stages of revisions that were made to New Zealand’s first commemorative coin, whereas the pattern Kiwi shilling is easily the rarest coin available to collectors that represents the introduction of the entire series of New Zealand coinage.
Whether Johnson kept the pattern Kiwi shillings as a personal memento of a project that was both challenging and ultimately rewarding will never be known.
It is instructive to see how the value of the coin currently sits when compared to several of the other coins that were in the Metcalf Collection in 1987.
As the 1987 auction has held in the United States, all values are in USD - click each link to see the most recent auction result for a comparable coin:
|
Lot |
Item |
Nett Price |
Current Value |
Ratio |
|
4021 |
Katane Silver Tetradrachm 460BC. Nike walking right, Very Fine |
$12,375 |
$53,000 |
4.28 |
|
4119 |
Lampsakos Gold Stater 390BC Maenad / Winged horse Extremely Fine |
$13,200 |
$150,000 |
11.36 |
|
4146 |
$16,500 |
$22,500 |
1.36 |
|
|
4618 |
$14,300 |
$60,000 |
4.20 |
|
|
6173 |
$15,950 |
$85,000 |
5.33 |
|
|
6235 |
Philippines Gold 8 Escudos on 1825 Colombia 8 Escudos Very Fine |
$13,750 |
$30,000 |
2.18 |
|
6474 |
$17,600 |
$100,000 |
5.68 |
|
|
6658C |
$14,300 |
$150,000 |
10.49 |
|
|
7229 |
New Zealand 1933 Pattern Shilling FDC |
$14,300 |
$30,000 |
2.10 |
|
7233 |
$3,740 |
$7,500 |
2.01 |
Click here to read our full article on the background to this rare and historic coin.
[1] Stocker; Mark, "A Very Satisfactory Series - The 1933 New Zealand Coinage Designs" in the British Numismatic Society Journal, 75, 2005, p 148.
Click the PCGS icon below to verify the certificate details for this coin directly on the PCGS website.
PCGS Certificate Number: 207200
SKU: 207200
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