LYALL COLLECTION OF CUT AND COUNTERMARKED COINS

The magnificent collection of cut and countermarked coins assembled by the leading British numismatist Bob Lyall is to be auctioned by Dix Noonan Webb, the international coins, medals, banknotes and jewellery specialists, in London on 25 September 2018. The collection includes many rarities, some of which are the the only recorded specimens, and is expected to fetch up to £270,000 in the stand-alone auction with its own catalogue.

Over several decades, Mr Lyall has established himself as one of the world's leading authorities on cut and countermarked coins, which had additional marks and symbols punched into them, and in some cases were cut down, while they were still circulating. This was done for a variety of reasons to address specific currency and marketplace issues on the various islands. His collection is mainly from the Caribbean, although it also includes specimens from Gibraltar, the Ionian Islands and West Africa. Mr Lyall has decided to sell the collection because it has gone as far as it can go and it is increasingly difficult to find additions. He also wants to give other collectors the chance to own such special coins. Over several decades, Mr Lyall has established himself as one of the world's leading authorities on cut and countermarked coins, which had additional marks and symbols punched into them, and in some cases were cut down, while they were still circulating. This was done for a variety of reasons to address specific currency and marketplace issues on the various islands. His collection is mainly from the Caribbean, although it also includes specimens from Gibraltar, the Ionian Islands and West Africa. Mr Lyall has decided to sell the collection because it has gone as far as it can go and it is increasingly difficult to find additions. He also wants to give other collectors the chance to own such special coins.

Among the highlights of the sale will be the only recorded specimen of the Essequibo & Demerara 22 Guilders countermarked under the Ordinance of August 1798. This handsome gold coin, originally minted in 1771 during the reign of Joseph I of Portugal, has the Essequibo & Demerara countermark under Joseph's chin on the obverse and is expected to fetch £6,000 to £8,000.

Another gold coin which was minted in 1784 during the reign of Maria I and Peter III of Portugal was subsequently countermarked by the French administration in Guadeloupe with a value of 22 Livres under the authority of April 1804. This specimen, which the Lyall catalogue describes as being "of the highest rarity", is expected to sell for £5,000 to £6,000.

Other rarities include an Essequibo & Demerara 3 Guilders countermarked under the authority of 1808 which had first gone into circulation in Mexico City in 1796 bearing the head of the Spanish king Charles IV. In addition to the countermark, this piece has a circular piercing with 19 crenations. It carries an estimate of £4,000 to £5,000.

Only two other specimens of a Guadeloupe British administration coin authorised in 1811 have been recorded. The Maria I and Peter III Portuguese gold coin dating from 1786 has an 82 Livres 10 Sols countermark is and is expected to fetch £3,000 to £5,000.

Mr Lyall developed a collecting interest at an early age, starting off with artefacts and objects of interest given to him by family members. By the age of 12, his interest focused primarily on numismatics. He was already on his way to forming a significant collection of the coinage of Charles I (sold by Dix Noonan Webb in 2015 and 2016) when he had his first exposure to the West Indies whilst doing National Service with the Royal Navy in 1958.

He developed a particular interest in the cut and countermarked coins of the West Indies and over several decades built up a huge fund of knowledge. He focused on study and research, writing hundreds of letters to museums, historical societies and individuals who might have useful information and visiting libraries and museums in the United Kingdom and the Caribbean.

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