Author: Baldwins

The reign of James I of England (James IV of Scotland) was extraordinary for a number of reasons, not least the famous Gun Powder Plot to blow up Parliament by Guy Fawkes – an event that is still marked to this day throughout the UK.

The son of Mary Queen of Scots, James I’s succession to the throne also represents another significant event in the history of numismatics, as his coronation in 1603 saw the first coronation medal made at the Royal Mint. It is a tradition that has, just like ‘Guy Fawkes’ Night’, lasted for over 400 years.

The medals represent a wonderful historical legacy for the United Kingdom – as cultural artifacts they are rich in symbolism; as collectables they are often extremely rare and highly sought-after. For a collection as comprehensive as this to appear on the open market is even rarer.

At our May auctions, Baldwin’s is delighted to present one such exquisite collection: the Dr Robert & Joshua Feldman Collection of Official British Coronation Medals.

Charles I (1625-1649)

Scottish Coronation, 1633, Gold Medal by N Briot (from a mintage of only 75 pieces).

Very fine and rare.

Estimate: £5,000-7,000

“We first became interested in Coronation Medals in 1985 when we came across a coronation medal of Edward VII at a coin show in California. We went on to read Henry Wollaston’s British Official Medals for Coronations and Jubilees (1978) which filled us with enthusiasm for the series. It started a 30-year journey which ultimately led to our completing a collection of all the official medals noted in Wollaston.

“It has been wonderful for my son, Joshua, and I to have had such a marvellous time and challenge during this journey.”

                                                                                                                                                    Dr Robert Feldman

George IV, Coronation, 1821, Gold Medal by B Pistrucci

Beautiful, as struck and rare.

Estimate: £1,500-1,800

For centuries these medals have been distributed at coronation ceremonies at Westminster Abbey. Historically, the gold medals were handed to the Lords, the silver to the peers, and the copper to the public gathered outside the Abbey. Characteristically, Victoria, at her coronation in 1883 deemed this ‘an unseemly process’, and instead handed out the gold and silver medals individually.

Now, just a few minutes walk from Westminster Abbey where the first coronation medals were given to Lords and Servants alike, these exquisite medals are now offered to all.

To view the entire collection, click here.

Baldwin’s London Auctions 98 + 99 take place on 3 and 4 May 2016 at our London Offices on the Strand (click for directions).

To view the entire catalogue for this auction, click here.

It’s the final day of the International Hong Kong Coin Convention, and as always it has been a fantastic event.

As a vital part of the Asian calendar, the Convention offers a unique opportunity for dealers and traders in the East to show off their wares, as well as make some new contacts and catch up with old friends in the trade.

The Convention has been running now for more than 30 years, and has always been enthusiastically attended by dealers from all over the world, from as far afield as the US, Vietnam and India. Throughout its long and illustrious history, the show has gone through various iterations, and for the last twenty years has been run and operated by Ma Tak Wo Numismatic Ltd.

 

The Hong Kong Coin Convention has been running now for more than 30 years, and is one of the best attended in the world.

 

Baldwin’s has a long and proud association with Ma Tak Wo, and our jointly-held Hong Kong Coin Auction remains one of the highlights of the 3-day event. The association is based on friendships that go back to the 1980’s – friendships that have lasted through good times and bad.

Which is why, in January of 2016, we were deeply concerned to hear that Ma Tak Wo had become ill.

It has been a difficult time for the family, especially when it was revealed that Ma’s illness meant he would miss the show for the first time in decades.

He has, however, been kept fully aware of how the show is proceeding on a daily basis, and the good news is that he is well on the road to recovery.

The Baldwin’s team here in Hong Kong have visited Ma at his hospital room a number of times over the past few days, and have been delighted by both the standard of care he is receiving, and with the remarkable progress that Ma has made in his recovery.

 

 

    

 The Baldwin’s team visited Ma in his hospital room and were delighted with the remarkable speed of his recovery.

 

Ma will be released from hospital over the next few days, and will continue his recuperation in his home.

Even better news for all involved is that Ma will soon be back on his feet and is very much looking  forward to attending the next event in August – so to all those who have missed his rather unique haggling techniques and his inimitable voice bellowing across the Crystal Ballroom at the Holiday Inn in Kowloon: rest assured – his absence is only temporary!

China Empire (General Issue)

Bank of China, Specimen 50-Yuan, Year 2 (1913).

In CMC holder graded Gem Uncirculated 65 OPQ, rare.

Lot 10 in Hong Kong Coin Auction 60 – Estimate US$7,500-9,000

Imagine the scene: you are a goldsmith, and its the middle of the 17th Century. Life is, by the standards of the day, pretty good. You have more than enough to eat, trade is brisk (gold is nicely abundant) and you’re making enough money to keep your family fed and watered.

In fact, life as a goldsmith has seen quite a rise in prosperity over the last fifty years or so. Since Henry VIII dissolved the monasteries in the mid 16th Century, you’ve been able to accumulate quite a lot of gold.

So, just where do you keep it?

Hiding it under the mattress seems a bit unsafe, not to mention the fact that mattresses haven’t been invented yet and as its the 17th C your mattress is more than likely made of straw. Putting a big pile of gold under it is going to do nothing for your back.

Step forward the Royal Mint. Which was, in fact, where the majority of wealthy goldsmiths stored their gold at the time. All was safe and good for a while, until along came Charles I, who seized all the gold stored at the Royal Mint in order to pay for his revolutionary reforms.

Suddenly, ‘under the mattress’ (straw or not) no doubt seemed like a good idea after all, even it would have given you a bad back.

What the goldsmiths did instead was to start accepting gold from the gentry and aristocracy, who were also looking for places to store their gold in order to ‘keep it from the plundering hands of that Charles fellow’.

Banking in England was born.

When the goldsmiths stored gold from the gentry in this fashion, they would often give the depositee a written note with signed and written instructions as to how they would pay it back. Something along the lines of ‘I promise to pay the bearer the sum of…’.

Sound familiar? The banknote had been brought into existence.

But was this the banknotes first appearance? Whilst the transition to ‘paper money’ may have seemed like a natural progression, albeit accelerated by political upheaval, it was very far from being an entirely new phenomenon. In fact, the Chinese had already been there – around 500 years previously.

China Empire (General Issue)

National Commercial Bank Ltd, Specimen 10-Yuan, 1 October 1923

About uncirculated with original paper, scarce.

Lot 26 in Hong Kong Auction 60 – Estimate US$3,000-4,000

In the ancient city of Pingyao in Shanxi Province, there sits a small and otherwise unremarkable cave. What is remarkable is the plaque that is fixed to the side of its entrance, declaring that ‘(this) underground cave is a treasury, in the old days silver and money leave here temporarily’. Ambiguous mistranslation aside, this cave actually marks the ancient banking centre of late Imperial China, where the first Chinese banks originated.

The rise of the ‘banknote’ in Ancient China came, as with the British version, out of necessity, and owes its emergence to the Silk Road, the trading route that ran for many centuries, linking China with the Peninsulars of India and Arabia, as well as Persia and the Meditteranean, and extending by sea as far as East Africa and Java.

With the abundance of so many different currencies along its length (divided not only by country but often by extremely small region), the traders along the Silk Road would often use what became known as ‘letters of credit’ as a more convenient mode of exchange. You guessed it – ‘I promise to pay the bearer…’.

The practice flourished and proved extremely effective, but was dealt a severe blow upon the crumbling of the Mongol Empire in the 13th Century, which saw the Silk Road trade fragment considerably.

By around 1450, the usage of paper money had pretty much died out. It did, however, pave the way for the next financial area throughout China.

China (Puppet Banks)

Central Reserve Bank of China, Error, 5-Yuan, 1940.

IN PMG holder graded Choice Uncirculated 63 EPQ.

Lot 94 in Hong Kong Coin Auction 60 – Estimate US$300-400

Flash forward a few hundred years and back in the UK our goldsmiths (and their descendants) are doing rather well for themselves. By 1784, there were more than 100 provincial banks in the UK. The Industrial Revolution had seen a huge increase in banking practices, as well as a vertiable explosion in foreign trade. Trade to places such as India, Persia, and of course, to China.

Around the middle of the 19th Century British and other European banks entered China, primarily to service the rapidly expanding number of Western trade firms who had expanded to the region.

The banknote had become a staple the world over – a fact that endures, of course, to this day. The denominations may well have changed over the centuries, and the faces that adorn them open to more public scrutiny (and often controversy), but whether it be a 17th Century English goldsmith, a Chinese purveyor of spices along the Silk Road, or the notes you just pulled out of the ATM, the principle remains the same: ‘I promise to pay the bearer the sum of….’.

The Baldwin’s Hong Kong Coin Auction takes place at the Holiday Inn, Golden Mile, Kowloon, Hong Kong

On Thursday 7th April 2016

To view the catalogue for this auction, click here.

Don’t forget, you can watch the entire auction live through this site by clicking here.

Scotland and Japan: one is renowned for its rich and varied culture, its stunning countryside, its friendly and welcoming people, its industriousness, and a history of fierce warriors who keep its borders free of marauding neighbours. The other is …oh wait, hang on…

All joking aside, direct links between the two nations may not seem immediately apparent, but they are there – in the case of Mr Albert Richard Brown prominently so. A R Brown was the founding partner of A R Brown MacFarlane, now a major player in the world’s steel industry, and was also widely regarded as the father of the Japanese Shipping Industry.

Born in 1839 in Ringwood, Hampshire, the young AR Brown dreamed of far off lands and voyages of discovery (obviously not an indictment of Ringwood in the modern day, which is a delightful place). In 1853, at just 14 years of age he defied the wishes of his parents and secured a role on a merchant ship heading for the West Indies.

The life of a Mariner in the mid 1800’s was undoubtedly a wee bit harsher than the modern day comfy-seat-laden heated ferries and table-service-included cruise liners, but Brown thrived, rising through the Officer ranks to be eventually offered a position in the Imperial Japanese Service, where he became one of their most trusted advisors.

Japan at the time was going through some significant changes. The establishment of the Meiji Government in 1869 ended 250 years of Tokugawa feudal regime, and placed a strong emphasis on introducing and absorbing Western Culture. The dream was to turn the (relatively) small collection of islands in the South China Sea into the ‘Britain of the East’.

On the other side of the globe, changes were also happening. In the UK, the aftermath of the Industrial Revolution had produced numerous pockets of intense manufacturing all over Great Britain, not least in the heavily industrialised region surrounding Glasgow, Scotland.

Scottish merchants were among the first to take advantage of Japan’s new technology and business focus, as Glasgow was such a significant source of both industrial goods and skilled workers. The connection was mutually beneficial.

And of course, A R Brown was ideally placed to take full advantage. After receiving the Order of the Rising Sun 3^rd Class by H.I.M. Emperor, Brown returned to the UK and settled in Clydeside, where he took over the commissioning and building of ships for the Meiji Government.

The early 1900’s saw a brisk spurt of industrialisation in Japan as they sought to raise their international profile.

Now, over 100 years later, it’s safe to say that it worked.

The role Albert Richard Brown played in this resurgence onto the world’s stage cannot be done proper justice on these pages alone, but it was he who forged those links – links as strong as the steel he purveyed – between two major economies, that have a lasting effect to this day (although the problem of the noisy neighbours arguably remains).

As well as bringing back to the UK over fifty years of experience in the Japanese Maritime Industry, A R Brown also returned with the five Oval Gold Koban’s you can see here – coins that have remained in the family ever since, now offered for sale in our Hong Kong Auction.

• Lot 828: Pre-Meiji:
  Oval Gold Koban, “in the year of Yen-Kio” (1744), 58.5mm x 41mm, 18.82g.
  Extremely fine.
  Estimate: US$6,000-8,000

• Lot 829: Provincial or Private Issue:
  Lozenge or Diamond-shaped Koban, 46mm x 40mm, 12.75g.
  Very fine.
  Estimate: US$5,000-7,000

• Lot 831: Tempo Era: Oval Gold Koban Kin (1837-58), 10.89g.
  Good very fine.
  Estimate: US$1,000-1,500

• Lot 832: Manen Era (c. 1860-62):
  Oval Gold Oban Kin (10-Ryo), Kyoto Mint, ND, 112.96g.
  Extremely fine and very rare.
  Estimate: US$35,000-40,000

• Lot 830: Tempo Era (1830-44): Oval Gold Goryoban (5-Ryo), ND (1837-43), 33.75g
  Extremely fine.
  Estimate: US$6,000-8,000

• To view the catalogue for this auction, click here.

The fantasy of moving to a tropical paradise away from the madding crowd is one harboured by many, especially when lottery jackpots swell to sums large enough to purchase a small island.

Scottish sea captain John Clunies-Ross and his descendants lived on the Cocos (Keeling) Islands, claiming the land for more than 15 decades before yielding possession to Australia in 1978. During its century and a half of ownership, the family issued a small number of coins (also variably called tokens or token coins), a set of which is offered for sale by A H Baldwin & Sons in Hong Kong on April 7.

 

Keeling, Cocos Islands, John Clunies Ross – Complete set of Ivorine Tokens, issued in 1913. For sale in our Hong Kong Auction on April 7 – Estimate: US$2,000-2,500

 

To read Jeff Starck’s full article for Coin World, click here.

 

To view the full catalogue for Hong Kong Auction 60, click here.

 

 

London has long been known for its music venues – the Albert Hall, the Barbican, and, of course, 76 Harley Street.

In the early 19th Century, the leading personality in musical circles was a chap by the name of Thomas Alsagar – a man of many talents (he was also co-owner of The Times and edited their muisical pages), he championed musical talent across the capital from his home at Queen’s Square where he established the ‘Queen’s Square Select Society’ in 1830.

This exclusive group led to the formation fo the Beethoven Quartett Society – and in the music room at 76 Harley Street they preformed the world’s first ever performance of a complete cycle of Beethoven’s quartets.

The first occurence of this rather mammoth undertaking took place between 21st April and 16th June 1845 (performed in batches of 3 quartets per day), and garnered some considerable success. The event became an annual occasion for the next six years.

The Ivory Beethoven Ticket, 1845

Great Britain, London, Harley Street, The Quartett Society – Ticket or Pass made of Ivory, dated 1845.

Audiences were limited to just 250, who got to see an orchestra filled with some of the finest musicians of the day – Camillo Sivori, Prosper Sainton, Henry Hill and Scipion Rousselot to name just a few.

Such a performance would have taken considerable effort and was no doubt a challenge for the performers – but it seems it was quite a challenge for the audience as well. In 1847 Hector Berlioz attended a cycle and noted in his ‘Letter from London’ sent to a French friend:

‘Here you see Englishmen following the composer’s flights of imagination with their eyes in miniature scores printed for the occasion which means that quite a few of them are able to read a score (more or less). But I would be wary of these fans’ knowledge because glancing over one listener’s shoulder I saw his eyes fixed on page 4 while the performers were on page 6…’

The token, pictured above, is a great chance to own a part of musical history – you might even try to say you were there, although it might be a good idea to brush up on your musical reading first….

As one of the leading numismatic dealers and auction houses in the world, we frequently receive requests from media agencies and production companies around the world who would like to feature our exclusive items or images.

Over the last few years we have received such requests as wide and varied as The Museum of Alexandria to Harvard University, as well as countless publications ranging from Canada to New Zealand.

Recently, we were approached by a television production company, Spun Gold TV, regarding featuring a number of items on their new show, Masterpiece with Alan Titchmarsh.

This new series sees teams comprised of antique and history fans going head to head in a number of challenges – from valuing to deciphering the age of a collectable item. Once they enter the ‘Masterpiece Gallery’, they must decide which of the three objects on display is the true ‘Masterpiece’.

The show can be seen on weekdays on ITV (UK) from 3pm-4pm, and you can watch the entire series so far by clicking here or by clicking on the logo above.

Just some of the items from Baldwin’s that are featured on the show are listed below – all of which are available to own directly through this website – your chance to own not just a confirmed ‘Masterpiece’, but a highlight to your collection that comes with its own unique ‘talking-point’!

For those that have not yet seen the show, in the interests of spoilers we have omitted the prices from below. Clicking on any item will take you to the page where the price is displayed.

Charles I (1625-49), Unite of Twenty Shillings, 1644, Oxford Mint.

Very fine, reverse bolder and very rare.

Claudius (AD 41-54), AE 24mm, minted at Antioch, Syria.

Dark brown-green patina, well-struck, about extremely fine.

Thessaly, Larissa (c. 356-342 BC), Silver Drachm, nearly extremely fine, attractive.

So what do you think? Masterpiece or not? Tell us below….

It doesn’t even take a numismatist to know the distinction between the obverse and the reverse side of the coin. Generally speaking, of course, the larger of the two images is attributed to the obverse.

But to what extent do the size, magnitude and overall character of the image hold value to the collector?

Take the Larrissa Drachm below, as an example. Could one reason that there is more value placed on the portrait than the grazing horse? Why?

Ancient Greek States allotted their coinage to be synonymous with an emblem of the Gods and other mythical creatures – Athens, for example, issued their coins with a depiction of the Goddess Athena (guess why?). Keeping up the theme of imaginative associations, the city of Larissa depicted the water nymph, Larissa – the daughter of Pegasus, Larissa was a water nymph said to inhabit a water spring in the city.

The nearly extremely fine Larissa Drachm, (c. 356-342 BC), featured on ITV’s Masterpiece show (Ep. 4). £850

According to legend, she was in love with Poseidon and bore him three sons. Her depiction, as seen on the coin, was invariably with flowing, unruly hair similar in style to the Goddess Medusa. Nymphs were considered divine creatures, possessing evergreen beauty and immortality – a little, perhaps, like the coin that still bears her likeness today.

The traits of the nymph were, naturally, highly desirable – so is it these traits that make the value of the image, and hence the value of the obverse.

Reversely (sic), the image of the horse also holds significance in Greek mythology – a highly regarded animal and a symbol of the city of Larissa. Yet here is more anecdote attributed to the image of the nymph than of the horse.
So which is it? Which holds the most value? Which side holds more importance to the collector?

Is it heads or tails?

This actual coin was featured on the Alan Titichmarsh show ‘Masterpiece’, Episode 4. 

ATG have this week published their review of numismatic auction houses in London as a great comparison guide for coin and medal auctions that took place in the capital over the course of 2015.

So, how’d we do?

As always, Baldwin’s London auctions (five in total in 2015, as well as 3 Argentum auctions) proved significant events in the numismatic calendar, realising a very healthy total of £3.7 million.

The health of the company overall continues to be encouraging, with a very comparible results total when placed alongside other numismatic houses operating in the same market.

The article, written by Richard Falknier, gives a fascinating insight into the London numismatic markets, highlighting just how they’ve risen in popularity over the years of the ATG collating data (a fact we can definitely attest to given the ‘standing-room-only’ attendances in our salesroom recently) the market has grown to a total of £38 million from a standing start of £9.3 million twenty years ago.

This significant growth has been reflected across numerous numismatic markets, with Orders and Medals now making up almost £8 million of the total.

 

The Victoria Proof Set (sold for £504,000) and the Gold British Trade Dollar (sold for £221,000) – the 2 World Record prices realised by Baldwin’s in 2015.

 

The state of the London market, then, looks to be in a pretty healthy shape overall – as Falknier states, ‘London is simply a nice place to do business, and retains an important role as an entrepot between Europe, the US and The Far East’.

It’s early days, of course, but here at Baldwin’s we reckon that 2016 is shaping up to be even stronger. We’ve already had a great start to the year, with The New York Sale in January highlighting the fact that numismatics on a worldwide scale is definitely as strong a market as its ever been.

And London in 2016? We believe its going to be a good one! We already have a number of very high-profile items lined up for our May auctions at 399 Strand (make sure you’ve signed up to our mailing list to be the first to view auction items), and last-minute consignments are still coming in.

Then, of course, we have Coinex in September, which is always a massive event in the numismatic calendar. We hope to see you there, at what promises to be a proper celebration of just how important London has become in the numismatic world.

To subscribe to the ATG and read Richard Falknier’s full article, click here.

 

What do you think? Do you reckon the London market is stronger than ever or have you perhaps experienced a decline in quality or value?

Let us know below, and we’ll feature the best comments in our next newsletter.