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The story of this coin begins at a weekly collectors' fair in Valencia. It was there that a 1914 British shilling was purchased. Initially, it was sold for 12 euros, but after some haggling, the final price was 10 euros.
| Characteristic | Value |
| --- | --- |
| Material | 925 Sterling Silver |
| Weight | 5.65 g |
| Diameter | 23.5 mm |
| Mintage | 23,416,000 |
The story of this coin begins at a weekly collectors' fair in Valencia. It was there that a 1914 British shilling was purchased. Initially, it was sold for 12 euros, but after some haggling, the final price was 10 euros.
This coin is an interesting specimen for analysis. Before determining if the purchase was a good deal, it is important to study its characteristics, verify its authenticity, and assess its condition, also known as its grade.
These parameters are the starting point for further classification and market valuation of the coin.
The shilling was a traditional denomination in the British monetary system. Its history dates back to the reign of Henry VIII, when it was introduced under the name 'testoon' and was worth 12 pence. In the hierarchy of British coins of that time, the shilling was positioned between the 6-pence coin and the florin, which was equal to two shillings.
To understand the purchasing power of this coin, we can consider what one silver George V shilling could buy in London in 1914. This amount was quite significant for the time.
Thus, despite its small size, this coin had tangible value in everyday life.
The obverse of the coin features a portrait of King George V without a crown. This is a tribute to the tradition started by his father, Edward VII. This design was not chosen by chance—it emphasized not the splendor of power, but the dignity and humanity of the monarch.
The uncrowned portrait became a reflection of the British ideal of restraint, characteristic of the early 20th century. This stylistic choice made the ruler's image more accessible and closer to the people.
Another interesting detail is the direction of the king's gaze. George V looks to the left. In British numismatics, there was a tradition that with each new monarch, the direction of the portrait's gaze would be reversed from the previous one.
The 1914 shilling holds special historical significance as it became the 'first war shilling.' These coins were minted after Great Britain entered World War I. They were actively circulated among soldiers in the early months of the conflict, and some even carried them as good luck charms.
This year also marks the decline of the sterling silver era. The 1914 shilling is one of the last to be made of 925 sterling silver. After 1915, the precious metal was conserved, with some reserves being melted down to pay for military orders, leading to reduced mintages.
The last coins of this fineness were issued in 1919. Starting in 1920, the silver content in coins was reduced to 500 fineness (50%). This is why pre-war coins made of high-purity silver are particularly valued by collectors today.
The creator of the king's portrait on the obverse is the Australian sculptor Bertram Mackennal. He was the first non-British artist whose monarch portrait design was used on the empire's coins. This same portrait of George V can be found on coins from Canada, Australia, New Zealand, and India, symbolizing the unity of the British Commonwealth.
On the obverse, besides the portrait, there is a Latin inscription around the circumference that translates as: 'George the Fifth, by the Grace of God, King of all the Britains, Defender of the Faith, Emperor of India'.
The reverse of the coin depicts the British lion standing on a crown. The composition is completed by the inscriptions 'Defender of the Faith, Emperor of India', the denomination 'ONE SHILLING', and the minting year '1914'. The edge of the coin is reeded.
| Grade | Designation | Value (USD) |
| --- | --- | --- |
| Very Fine | VF | 12 |
| Extremely Fine | XF | 40 |
| Mint State | MS60 | 85 |
In the international Krause catalog, this shilling is classified under the number KM#816. An analysis of catalog prices shows how much the coin's value depends on its state of preservation (grade). The price difference between a coin in good and excellent condition can be several times over.
Approximate value of the 1914 shilling depending on the grade:
The mintage also affects the value. Years with lower mintages, known as 'key dates,' are valued significantly higher. For example, the 1913 coin, with a mintage of 9 million, is worth almost twice as much as the 1914 coin, which had a mintage of over 23 million.
A basic authenticity check of a silver coin can be done at home. Several simple tests are used for this.
Grading coins with the portrait of George V is one of the most challenging tasks. Due to the specifics of the minting, the ear on the portrait is the first area to show wear. The condition of the ear, as well as the visibility of the mustache and eyebrows, are key factors in determining the grade. This specimen was graded as Very Fine (VF), or VF25-VF30 on the Sheldon scale, as the details of the ear and mustache are partially smoothed.
After grading the coin as Very Fine (VF), its value according to the Numista catalog is about 10 euros. This perfectly matches the purchase price, indicating that it was not overpaid.
However, an analysis of listings on online auctions like eBay shows that actual market prices can be higher. Sellers often inflate the price, and even coins in worse condition can sell for significantly more than catalog values. For example, specimens in a condition comparable to VF are offered for prices ranging from 20 to 30 euros.
Therefore, the acquisition of this 1914 shilling for 10 euros can be considered a good purchase. It is a coin 'with character,' reflecting its era, and a fine addition to any collection of British coins.
