The government and treasury of St. Helena, in association with the East India Company, have issued a new silver coin that launches the bullion coin programme which will be under the guidance of the East India Company. The new silver one-ounce coins, which are official legal tender in Saint Helena for one pound, includes a reverse design that features the historic shield that was depicted on the gold spade guinea — first issued in 1787 during the reign of King George III. The guinea denomination itself was first introduced by Charles II in 1663 and has the distinction as being the first English machine-struck coin. Originally worth one pound (or 20 shillings), over time its value fluctuated with the price of gold until 1717 when Britain adopted the gold standard and its value was fixed at 21 shillings.

The "spade" guinea was so-called due to the shape of the shield seen on its reverse which contained the various representations of the British Kingdom that resembled a shovel or spade. It is also noteworthy to mention that the coin's moniker of a "spade" may have alluded to the nickname of King George III who was known as "the farmer king" or "Farmer George" since His Majesty was known to prefer his time in the countryside tending to his gardens and also showed a keen interest in agriculture. The coat of arms, which is depicted on the new silver bullion spade guinea ounce coins, includes the crests representing the realms within the United Kingdom during the near 60-year reign of King George III.

The obverse bears the elegant effigy of Her Majesty Queen Elizabeth II created by internationally renowned sculptor Raphael Maklouf. The text around the Queen's portrait includes the name of issuing authority of St. Helena, the denomination £1, and the year 2018.

Both the obverse and reverse feature a distinct East India Company traditional pattern in the fields. The reverse bears the distinctive quality mintmark of the East India Company which is seen below the primary design. The East India Company and the government of St Helena have a long and historic association with the issuing of coinage, which was first issued in 1821.

To read the complete article, see:
East India Company Coin Field Pattern(http://news.coinupdate.com/st-helena-and-east-india-company-new-silver-bullion-one-ounce-coin-features-historic-spade-guinea-motif/)

To read an earlier E-Sylum article about the East India Company, see:
A REVIVED EAST INDIA COMPANY STRIKES COIN(http://www.coinbooks.org/esylum_v15n14a23.html)