|
Sale 17
|
|
press UP arrow key to increase the zoom ratio.
press DOWN arrow key to decrease the zoom ratio.
press RIGHT arrow key to increase the zoom window size.
press LEFT arrow key to decrease the zoom window size.
|
|
Lot 15
1776 Continental Currency - "Pewter" (Tin), inscribed "CURRENCY" Newman 2-C. PCGS graded MS-61 Currency, Pewter. Light steel gray in color with the obverse very clean for the grade, on the reverse the color is also well matched, and we note a couple of trivial marks on some of the chain links. As expected, the strike is sharp throughout, with no weakness whatsoever. There are scattered lumps of tin pesting on both sides, but primarily on the reverse, as often seen on coins of this metallic content. For more than the last century, these were thought to have been struck in pewter, but they are actually tin, although similar, not quite the same alloys. Keeping with this numismatic tradition, PCGS notes on their insert "Pewter". PCGS has graded only one as such, with a dozen graded higher. Most are found in circulated grades.
The American Continental Congress anticipated a loan of silver for coinage from their friends in France, and hence unknown intermediaries contacted New Jersey engraver Elisha Gallaudet to make dies, employing his popular renderings of the sundial and chain with each state engraved one to a link. Coinage began in secret, pending the hoped for loan of silver from France, these were struck primarily in tin, a few in brass, copper and even a silver example or two are known. As a new nation, the United States needed to exercise its sovereign right to coin money, and further it was hoped that these coins would help prop up the rapidly deflating Continental Currency then in circulation. In theory, the Continental notes would then be redeemable in silver coin, supporting the notes stated value.
Many tin coins circulated, and their popularity remains high with the date 1776 emblazoned on the obverse, and the strong chain of the 13 original colonies linked on the reverse, with the bold statement WE ARE ONE at the center. The design elements had been sketched by Benjamin Franklin, and were seen on a few Continental currency notes attributed to Elisha Gallaudet by Eric Newman (see the Continental Currency chapter, issue of February 17, 1776 Resolution fractional notes). These notes were clearly copied for the coin herein, and misspellings of "currencey" are seen on both the notes as well as a few of the coins!
The true denomination is not known, although they are approximately the size of later dollars, and hence that name has stuck. Perhaps they were meant to be Pence, or something closer to a cent in circulating value when struck in tin. Highly popular with collectors, the design elements employ the medieval symbols of the Sun with Face (God or Time personified), while the sundial with FUGIO refers to Time or the Sun which is fleeing, so one must use Time or daylight hours, wisely. The motto, MIND YOUR BUSINESS means just that. On the reverse, each state is noted or abbreviated on a chain link, thirteen of which encircle the reverse, with the center circle surrounded by glory rays with AMERICAN CONGRESS surrounding WE ARE ONE at the very center. The original dies were modified from beaded links (2 examples known in brass), and this variety is thought to have been the first large group struck, and most show evidence of circulation. Apparently struck using medal turn (flip side to side, not top to bottom), the reverse had rotated about 40 degrees clockwise when this one was struck.
One of the most historic and desirable of all the colonial coins issued, and certainly a highlight of the Norris collection.
Estimated Value $15,000-UP.
From the Paul Arthur Norris Collection.
|
| |
| Realized $24,150 |
|
