1077058 | GREAT BRITAIN. George I. (King, 1714-1723). 1723 AR Shilling. NGC MS65+. GEORGIVS · D · G · M · BR · FR·ET · HIB · REX · F · D ·. First laureate bust right / BRVN - ET · L · DVX - S · R · I · A · TH - ET · EL ·. SS, C in opposed angles of cruciform arms. KM-539.3; SCBC-3647; ESC-1176.


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The South Sea Company, founded in 1711, was created as a public–private partnership which aimed to consolidate and reduce the cost of the national debt. The company was also granted a monopoly to trade with the Pacific region and South America. Company founders engaged in bribery and conspired in insider trading, misleading their public investors who were encouraged to invest heavily in anticipation of fantastic returns on South American trade. Many investors suffered financial losses before the company's share prices crashed. The South Sea Company never managed to be profitable in trade, though it pulled through the collapse, and in 1723, provided bullion to the Royal Mint for striking silver coins.