Third Session

Tuesday, Oct. 3, 2000, 1:30 P.M. to 5:30 P.M. Lots 1384 to 1984

United States Regular Coins

Colonial and Early Federal Period Coins

Lot 1384
1773 Virginia Halfpenny, period after "GEORGIVS". PCGS graded MS-62 Brown. Designed by Richard Yeo and struck at the Tower Mint. Curiously, Virginia as a colony (1609) had been given permission to coin its own money, but no one had done so in the first 150 years, tobacco was the standard medium of exchange. As the population grew in the 1750s, the need for a medium of exchange became apparent. The Virginia Assembly requested coinage from the Tower Mint, which was approved, and these coins were struck and delivered to Virginia where they circulated widely. This particular piece somehow survived, perhaps saved as the first of its kind.
The color ranges into a bluish-green with medium to dark brown predominating. The coin is very well struck, and the surfaces show few signs of contact. As to the planchet, it is clean and without a flaw.
Estimated Value $500-550.

Lot 1385
1783 Chalmers Shilling. Birds, long worm. PCGS graded VF-25. As the Revolutionary War in America dragged on, small coinage all but disappeared from circulation. Merchants and people began to refuse to accept the underweight cut Spanish coins (about the size of a later silver dollar, which were cut into 8 pieces--"pieces of eight"-- by heavy metal shears, from these we derive "bits" or one-eighth dollar, and our two bit quarter, yet to be invented and named). At that time, the circulating medium was a hodge-podge of state, English, French and Spanish coinage.
Well, there you have the picture, chaos reigned supreme, and economic growth was curtailed by the severe coin shortages. In typical American male fashion, John Chalmers, a silversmith from Annapolis, Maryland, struck a series of silver coins in the denominations of three pence and shilling. The coins were designed by Thomas Sparrow, a friend of Chalmers. An important colonial issue, most of which are found in circulated condition.
On this particular coin, the right side is weakly struck on both the obverse and reverse. Colors are a lovely antique silvery gray, with some darker highlights near the lettering and devices. Always popular for the clasped hands design (in reference to the friendliness of the adjoining states) and two doves dividing up the spoils of an early morning find.
Estimated Value $2,500-3,000.

1776 CONTINENTAL CURRENCY DOLLAR, PCGS GRADED MINT STATE 62

Lot 1386
1776 Continental Currency - Pewter, inscribed "CURRENCY". PCGS graded MS-62. One of our most famous colonial coins, this one has the prominent date of 1776 on the obverse, the year of the Declaration of Independence. These were struck in anticipation of Congress managing to obtain a loan of silver bullion from France which could be coined into a circulating medium to help support the rapidly inflating paper Continental Currency. Unknown intermediaries sought out Freehold, New Jersey engraver Elisha Gallaudet who prepared the dies. It was hoped that these coins could not only show off our national sovereignty, but also prop up the paper Continental notes, which were supposed to be redeemable in coin (but were not truly backed by precious metal coins, as Congress had not gotten around to making any provisions for coins at the time this was struck).
Once the hoped for silver bullion arrived, the circulating notes could be replaced with silver coins. For devices the coins employed the linked chain as sketched by Benjamin Franklin, also employing the sundial rebus with CONTINENTAL CURRENCY around, the reverse with AMERICAN CONGRESS on a label enclosing WE ARE ONE with glory rays and 13 chain links naming each state of the United Colonies.
Unfortunately, the French bullion hoped for did not arrive, and the paper currency depreciated rapidly. The first printed discussion of these coins is in Bishop Watson, in 1789 (Breen). Watson wrongly estimated the coins weight and composition as being pewter, but they are in fact tin. Crosby quoted Watson, and PCGS has quoted Crosby, so these are still being called "pewter". As to the denomination, some research has been done to see if these might have been intended as cents, but Breen believes they were more likely intended as a pattern pence, at least for the tin, copper and brass strikings. The silver examples of these would have been approximately the size and value of a dollar, and for this reason, it has long been assumed that these pattern issues were intended as dollars.
This particular coin has light gray color and almost no signs of the usual "tin pesting" which often plagues this issue. The strike is sharp, and all the details can be easily discerned. We note a faint line running down the central planchet on the obverse, it was probably there prior to striking. Not many are known in Mint State, and most of these show signs of wear or mishandling. If you've been looking for a really nice example for your collection, then view this coin to see if it will fill your needs.
Estimated Value $20,000-25,000.

Lot 1387
1786 Vermont Copper. "Vermontensium". VF-20. Struck in pure copper but with a minor planchet flaw on the 8 in the date and the plow above, as well as some other small flaws. Dark brown in the fields, lighter on the devices with the surfaces lightly pitted on both sides. These landscape designs are very popular for the Vermont hills with the Sun rising up over the trees.
Estimated Value $800-900.

Lot 1388
(c.1792-1794) Kentucky Token Cent. Lettered edge, "LANCASTER". PCGS graded MS-62 Brown. These tokens were struck in England about 1792-94. Each star in the triangle represents a state, with the letter K for Kentucky at the top, hence the name "Kentucky" token. Apparently the plain edge pieces were struck for circulation in the United States, and most of these are found in lower grades. The lettered edge pieces, as we have here, were intended for English collectors, and most are found in various mint state grades. Surfaces here are clean for the grade, with hints of mint color in the lettering. A few minor handling marks can be seen, and there is a minute area of planchet roughness on the lower reverse. Perfect for the type collector who desires a Kentucky token.
Estimated Value $600-700.

Lot 1389
1783 Georgius Triumpho Token. PCGS graded AU-50. Always popular with collectors, more and more information has come to light that demonstrates that this issue was struck in the 1780s. The reverse inscription "VOCE POPOLI" translates to "By the voice of the people" refers more to Washington's defeat of the superior British Redcoat forces than George III's triumph. Further, the reverse shows a rendition of Liberty, with 13 vertical stripes in her weaving frame (unity of the states) with the further support of four fleurs de lys, obviously alluding to French aid in obtaining victory for Washington. It is thus likely that the obverse does not refer to George III, but to George Washington, but no portraits were available to work from when the dies were prepared (Breen). Little is known about the engraver, mint or designer. All we do know is that the coin is made of copper, and obviously was struck in the 1780's (New Jersey coppers from 1788-89 are known struck over these tokens).
The obverse is sharply struck and well preserved, but the reverse die broke early during coinage, and shows a sharp die crack just to the left of Liberty, which weakens the central device. Chocolate brown and pleasing, with few surface marks from brief circulation.
Estimated Value $1,100-1,300.

Lot 1390
(1795) Washington "Liberty and Security" Token Penny. PCGS graded MS-64 Brown. One of the finest graded by PCGS, with just 4 in this grade category and only 2 pieces graded higher. And one can see why, the surfaces are pristine for such a large coin, there are two faint planchet lines (probably a defect in the copper planchet) one on either side of George. There are 15 stripes in the shield, probably refering to the number of states at the time of issue. Boldly struck on all but a few of the central reverse stars, and with some hints of original red color remaining in the lettering. A glass will note light hairlines in the fields.
These were designed and engraved by the famous Thomas Wyon and struck in Birmingham. A beautiful and historic issue, and well worth a strong price.
Estimated Value $1,750-2,250.

Lot 1391
1787 Fugio Cent. Pointed rays, cinquefoils, "UNITED STATES". AU-50. Newman 13-X. There is a planchet flaw on the obverse on the left side of the obverse and a smaller one on the left reverse edge. Such flaws are common on these early coins, conditions for their manufacture were primitive, and numerous problems were encountered. Medium brown in color, with minor striking weakness on the left side of the obverse, same location of the reverse. These Fugio cents were the first coins authorized by the United States, and the legends are credited to Benjamin Franklin. Rich in history, to say the least.
Estimated Value $700-800.

Half Cents

Lot 1392
1794 Cohen-2a, Breen-2b, Rarity 3. VF-30. Medium brown in color, but with some minor porosity on the obverse. The reverse cleaner and better preserved. Examination with a glass will note a few tick marks near ED of UNITED, another above the A of HALF. Always popular with collectors, 1794 half cents are rare in high grade, and usually have far more problems than we have here. A coin that a numismatist will long appreciate after it is acquired.
Estimated Value $900-1,100.

Lot 1393
1800 Cohen 1, Rarity 1. AU-53 Brown. A choice coin for the grade, with satiny brown luster in the fields and boldly struck devices. This is a later die state with rim crumbling above LIB on the obverse, forming a partial cud where the dentils should be. Along the upper reverse, the rim is wide, and the coin appears to be struck slightly off-center, and weakly struck on the upper portion. A couple of minor handling marks near the date, and one vertical tick in her drapery above the final 0 in the date. One for the variety collector who needs a nice example of this date.
Estimated Value $500-750.