George Iii Octagonal Countermarked 'crowns'

[pokal02]

I noticed recently when browsing through ESC (as one does) that it says GIII octagonal countermarked dollars were given a face value of 5s, as opposed to the earlier oval ones which were 4s/9d. However, Linecar's work on crowns says that both issues were 4s/9d, Spink's standard catalogue is ambiguous but I'd read that as saying 4s/9d also.

Can anyone clear this discrepancy up please? Thanks in advance for any help.

[azda]

Perhaps the weighs/value of silver was something to do with it? Anyone else?

[Paulus]

I would agree with Dave. Bradley (A Handbook of Coins of the British Isles) states that 'In 1800 the rise in the cost of silver meant that dollars had to be revalued to 5s."

I take this to mean (if correct) that all dollars in circulation at the time (whether oval or octagonal countermarked) were then worth 5 shillings from this time, as of course was the B of E Dollar dated 1804.

Edited September 11, 2013 by Paulus

[Colin88]

Paulus is correct....they were devalued due to the rising cost of silver....and by the way if anyone has an octagonal countermarked Halfcrown (4R) that they would like to sell then do please PM me....thanks.

[Rob]

From 1806 to 1811 they were valued at 5/6d, hence the 5/6d bank tokens of 1811. When the first countermarked pieces were about to be issued at 4/6d, the price of silver increased and so had to be issued at 4/9d instead. This increased to 5/- and eventually 5/6d due to the increase in silver prices as a result of the Napoleonic Wars.