Feb 18-19, 2002, The Benson Collection Part 2, Sale 13
Lot 16
1787 Auctori Plebis Token.
PCGS graded AU-55. One of the finest graded of this rare and popular
colonial issue. PCGS in their Population Report shows just 1 graded as AU-55
and 1 graded higher as AU-58, no mint state coins are reported, making this one
of the very finest to have come down to us today.
These were struck to
imitate the then current Connecticut coppers on planchets which were too small
to accommodate the reverse die, and the tops of the lettering and bottom of the
date is always missing. The obverse die was weakly engraved so simulate wear,
and thus encourage acceptance. On the reverse, there is a die crack from
Liberty's head extending down to the left. AUCTORI PLEBIS means "by the
authority of the commoners" (Breen) and this has an antiroyalist flavor, the
reverse legend of INDEP. ET LIBER "Independence and Liberty" which was copied
from the Connecticut reverse legend. Most likely these were struck at the
Birmingham mints between early 1788 and July 1789 when the copper panic stopped
profitable business.
Light brown in color, with a few scattered ticks on the
obverse, and one small stain on the B of PLEBIS should help trace the pedigree.
Well struck for the issue, despite the late reverse die state.
Estimated
Value $1,250-1,750.
Lot 17
1794 Franklin Press Token.
PCGS graded MS-65 Brown. This is the finest graded by PCGS, and it
is alone as the sole MS-65 graded as Brown. There are a few Red and Brown
examples graded, but they top out at MS-64. Gorgeous light brown in color on
this one, with some mint red near the devices and no spots or other detracting
marks. If you demand the finest, and want a regal example for your collection,
then here is a boldly struck gem which is second to none. Color photo.
Estimated Value $4,000-5,000.
Lot 18
1795 Talbot, Allum & Lee
Token Cent. PCGS graded MS-64 Red. Here is a significant rarity,
this is the only "red" 1795 Talbot graded by PCGS! Not only that, but the
surfaces of this near gem are quite beautiful and undiminished by marks or
annoying spots. Well struck and preserved, this one must have been tucked away
at the time of issue, and somehow retained most of the original mint color.
Slightly faded, but clearly a very impressive coin for the mint color and
surface quality. The reverse is especially nice in the color arena.
Estimated Value $1,500-2,000.
Lot 19
1783 Georgius Triumpho
Token, Baker-7. PCGS graded AU-58. One of the finest graded of this
rare and important colonial issue. Although little is known about the origin of
the Georgius Triumpho coppers, we do know that there is an unfortunate
resemblance to George III, and many are thought to have been defaced as such.
These are thought to have circulated in the areas that became the states of
Georgia and Florida, and others were exported to Jamaica. It is believed that
no portrait of Washington was available, so an Irish halfpence was loosely
copied for the head of Washington. The reverse design elements depict Lady
Liberty weaving on a frame with 13 vertical stripes for the colonies, and four
fleurs de lys at the corners, a tip to the vast help received from the French
during the Revolution. All seen show a strong reverse die break through the
weaving frame, on the left of the lady weaver. Excellent surfaces for the
issue, with medium to dark brown toning evenly across both sides. One tiny red
spot will identify between TR of TRIUMPHO. Free of handling or circulation
problems.
Estimated Value $1,500-2,000.
Lot 20
1783 Washington Token. Large
military bust. PCGS graded MS-62 Brown. One of the finest graded of
this variety, and the surfaces are nice for the grade assigned. We note a tiny
scrape left of the & on the obverse, and the color is medium brown and free of
problems. Sharp at the centers, but weak on parts of the peripheral lettering
on the left side. Doubling is noted on the dentils on the right, and this one
may be slightly double struck. PCGS has only graded 1 coin as such, with 1
graded higher, as MS-63 Brown, and 1 other as MS-62 Red and Brown for the top
three seen by that service. An important example for the specialist.
Estimated Value $1,800-2,200.
Lot 21
1783 Washington Token.
"UNITY STATES", Vlack 27-W. PCGS graded MS-63 Brown. A stunning and
magnificent example of this Birmingham issue. Note the satiny brown luster on
both sides and this is likely one of the only examples that retains mint color.
Bluntly struck, as are all, with the tops of the peripheral letters and devices
poorly struck up. The surfaces are exceptional for the moderate grade, and no
signs of spots or discoloration of any size are present. PCGS in their
population report show that this coin is the finest graded and alone as the
sole MS-63. There are four others graded just below as MS-62. We can scarcely
imagine a nicer example, with such lovely color, surfaces and rich
history.
For many years, the origins of this token were unclear. As so often
is the case in numismatics, years of research and analysis of minute details
has solved this riddle. The dies are believed to have been engraved by Thomas
Wells Ingram, of the Soho Mint around 1820. Other dies from this same maker are
signed with a small "I" on Washington, and one seen has TWI, which linked this
colonial to the Soho Mint around 1820. The date "1783" refers to the Treaty of
Paris and the ending of the Revolution. It is apparent from the reverse that it
was copied from the Large cents of 1796-1807, and these tokens were intended to
circulate along side still scarce Philadelphia Mint regular cent issues. As
copper coins were not legal tender in the United States, there were no laws
against the import and circulation of copper tokens. As we know, the
Philadelphia Mint could scarcely keep up with demand, and many areas still
lacked small coins to make change. Hence merchants could order kegs of these
tokens, and give them out as change without violating any laws. The copper coin
shortage came to a head during the 1815-1817 period, when large cents were far
more expensive to purchase compared with these tokens, which could be had for
much less than one cent each, and given out as cents in change. The monetary
history of the United States is rich with dozens of tokens and other stop gap
measures that have been employed to keep the wheels of commerce turning when
other coins were not available. An outstanding coin that will enhance even the
most advanced collection. Color photo.
Estimated Value $3,000-3,500.
Lot 22
(c.1783) Washington Token
Double Head Cent. PCGS graded MS-62 Brown. One of the finest graded
of this important coin, PCGS has seen only 4 this high, with none graded
higher! Mottled brown in color, with areas of darker shades near the rim and on
the devices. All Washington colonials are scarce and have been popular since
the time they were made. A timeless classic.
Estimated Value $1,800-2,200.
Lot 23
(c.1783) Washington Token
Double Head Cent. PCGS graded AU-50. Choice light brown colors in
the fields, with darker areas hugging the devices. Sharply struck and well
preserved. Ever popular and always in high demand.
Estimated Value
$500-600.
Lot 24
1791 Washington Token Cent.
Large eagle, Baker-15. PCGS graded MS-65 Brown. Designed and
engraved by John Gregory Hancock, Sr. (1775-1815) the child prodigy of
Birmingham who became one of the finest engraving artists in the rich history
of British diemaking. This particular work was done by Hancock at the ripe old
age of 16. Washington is portrayed in elegant fashion, copied from a French
period engraving of the time (see Breen's Encyclopedia). On the reverse we see
a robust eagle, wings outspread and form fitting to the restrictions of a round
planchet. In his beak a ribbon reads UNUM E PLURIBUS with ONE CENT above. Even
the eagle's tail shows seven feathers, and this issue would arise in 1878 when
Morgan dollars suffered an excess tail feather until some sharp eyed coiner
noticed the offending feather and had it removed from future dies. Hancock also
employed the lucky number 13 in both the number of leaves and arrows,
representing the colonies that had banded together at that time. Why was such
effort paid to small details, well, the American Congress was meeting to decide
if they should contract out coinage, or have it made at home. This coin was one
of Hancock's proposals for contract coinage. As the need for coinage was great
at the time, the approximately 2,500 large eagle cents sent to America entered
circulation, with just a few held back as mementos. Today, we have the benefits
of hindsight, and know that soon a mint was established in Philadelphia by
1793, and contract coinage proposals were scrapped. PCGS, in their population
report note that this is the finest "Brown" coin graded, alone in the MS-65
category, and there is only a single coin graded this high as "Red and Brown".
The surfaces are pristine, the color and even brown with hazy brown luster
beneath. One tiny planchet streak above the second 1 in the date will help to
identify this coin, as well as a short lint mark hanging off the top left of
the N of PRESIDENT. Thus, we can state that this is certainly one of the finest
known examples of this ever popular and beautiful Hancock proposal for contract
coinage.
Estimated Value $3,000-4,000.
Lot 25
1791 Washington Token Cent.
Small eagle, Baker-16. PCGS graded MS-66 Brown. Tied with a total of
4 coins as the finest graded by PCGS for this important issue. The surfaces are
simply outstanding, with light to medium brown color throughout, and hints of
original red clinging near the devices. Fully struck by the dies, with
excellent details on the epaulet and ruffles. These issues were no doubt
examined when the time came to strike the first regular issues in Philadelphia,
as certain design elements were employed, like the arc of clouds above the
eagle, instead of the full circle as seen on the Great Seal. Certain to please
the most advanced collector of Washingtonia. Color photo.
Estimated Value
$5,000-6,000.
Lot 26
1792 Washington Copper
Token. Eagle with stars on reverse, Electrotype of Baker-21. (no grade,
host coin about EF). An impressive electrotype example of this extremely
rare coin. As was the practice in the last two centuries, when a collector
could not obtain an original example of a rare coin, a copy might be made from
a friends collection or from a willing museum that had an example desired. Such
is the case here, this coin is made from a cast of the obverse and reverse of
an original out there somewhere, and the two halves are fused together. Rare
and seldom offered in any grade, this glossy tan example makes for a nice
filler until a real one is offered again.
Estimated Value $200-250.
Lot 27
(1792) Washington Token
Copper Cent. "WASHINGTON BORN VIRGINIA", Baker-60. SEGS graded EF-40
holed, repaired and expertly plugged. * holder. Our grade Sharpness of
Extremely Fine, net grade Fine-12. As noted on the SEGS "*" holder, this
coin has been holed, plugged at 11 o'clock on the obverse and expertly
repaired. Dark patina from slightly rough surfaces that have been carefully
smoothed and this work is scarcely detectable. As to the hole, the letters in
that area are not as crisp as on the rest of the coin, but this work is very
well done and hardly noticeable. This is an example of Breen's second die
(B-1239). In the PCGS Population Report we note that only 9 have been graded of
this rare coin, 7 in grades of VF or below, and 2 in AU, with none graded in
mint state. A rare and seldom offered coin, and one that should be considered
by any specialist in the series despite its problems.
Estimated Value
$2,000-3,000.
Lot 28
(1792) Washington Token
Cent. "WASHINGTON PRESIDENT", plain edge, Baker-59. SEGS graded Fine-15
"*" holder. Light Roughness. A very rare issue that is seldom found at all.
PCGS has yet to grade an example of this colonial. While the surfaces are not
perfect, with a minor bend along the left side of the obverse and reverse, and
surface marks located on the central reverse. Dark brown in color, with an old
spot on Washington's coat, and another behind his shoulder. The coin continued
to circulated after the surface marks, so the wear is not even on the reverse,
with many words only partially legible. Not bad for what it is, and worth a
decent bid.
Estimated Value $1,500-2,500.
Lot 29
1793 Washington Token
Halfpenny. Ship reverse, lettered edge, Baker-18. PCGS graded MS-62
Brown. Although the mintage is unknown, we do know that PCGS has graded 105
of these according to their recent Population Report. Of the 105 only 3 have
been graded in mint state, one in each grade MS-60, 61 and this coin alone as
MS-62. There are none graded higher. Breen speculates that these ship tokens
were imported for circulation, and were not made for the collecting public in
England, which accounts for their rarity in high grades. This is an early die
state, when the overdate is still present under the 3, and the die had not yet
clashed and started to rust as seen on a great many examples. Reddish brown in
color, and very well preserved. The surfaces show no troubling spots or other
signs of contact. Washington is fairly well struck with most of the details on
the epaulets and on his curls. The ship too, is outstanding, with full rigging,
sails and flags above. If you demand the finest, then here is one that
certainly may qualify of this rare Hancock-Washington issue. Color photo.
Estimated Value $4,000-5,000.