Lot 56
1796 Myddleton Token - Silver. PCGS graded Proof 64. One of the most beautiful and coveted of all the colonial issues, the rare Myddelton patterns always create quit a stir among collectors. Perhaps a dozen are known in silver, even fewer in copper. PCGS has only graded 1 coin this high, this specimen, and of course, none have been graded higher. It is likely that no finer example exists than the present specimen, although one can never be absolutely certain of such claims. The dies were prepared and engraved by Conrad Küchler and struck at the technologically advanced mint of Boulton & Watt in Birmingham. Philip Parry Price Myddelton managed to acquire a large parcel of land in Kentucky. In order to make use of this land, Myddelton convinced hundreds of farmers and laborers to emigrate to his land with the promise of steady employment and possible abundance in the new country. He then had these patterns struck, perhaps as advertising tokens, or for circulation in Kentucky. Before long, the treasonous devices landed Myddelton in the horrible Newgate Prison, and his property was no doubt confiscated. A handful of these tokens remain, this is the finest graded of the silver pieces, according to PCGS. Beautiful antique silver color with deeper blues around the periphery, and free of handling marks. Examination will note minor hairlines, but they are light and not distracting.
One can only imagine the horrors of the King when this token was struck, England is depicted on the obverse, head hung low in defeat, staring at the upstart cap of Liberty at her feet. The military might of England had been defeated at Yorktown, hence the spear Liberty holds is point down, and her fasces and scales of justice are dropped onto the ground near her feet. On the reverse, Hope gently nudges two children towards Liberty, with the branch and wreath between (symbol of Myddelton's new colony), and the cornucopia spilling forth Kentucky's vast wealth behind. The engraving and design elements are stunning, and this is one of the most beautiful of all colonial issues. Further, they were struck in proof, and what few are known tend to be well preserved, with this particular one the finest seen by the grading services.
We recently offered two examples of this rare pattern, one in copper and one in silver in our June, 2001 sale, the silver example was PCGS graded PR-63 and realized $14,950 and the copper slightly more. This higher grade silver coin should sell for more, and presents an unusual opportunity to purchase one of the most sought-after rarities of the colonial series.
Estimated Value $15,000-UP.
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| Realized $17,825 |
