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Lot 899

Greenland. Dollar (Piastre), 1777 (Konigsberg mint). Dav-412; Salv-52; Hede Norge 9, Schou 3-4; KM-412.2. 26.92 grams. "ISLAN" variety. Struck by the Danish Asia Company in imitation of the Pillar Dollar design. Crowned arms of Denmark. Reverse: Between two crowned pillars, the arms of Denmark and Norway under royal crown; below, three islands surrounded by sea, and the names: ISLAN, GRÕNLAND, and FERÕ; date between to spiral-shaped florals. Struck only in three years 1771, 1774 and 1777 using only two dates 1771 and 1777, few pieces are known to have survived today. Salvesen notes that five true 1771 pieces, determinable by die combination, are known. About 20 survive from the 1774 mintage, "half in museums." The 1777 with ISLAND on the ground beneath the globes has a population of 3 examples, and Salvesen knew 21 of the ISLAN variety, with no less than 12 in museums. Certainly one of the ultimate classic numismatic rarities, a highlight of any major collection. Toned. Extremely Rare. NGC graded AU-55.

The Danish Asiatic Company (1730-1827) coined a numbe of Piasters for the their trade with China. Issue dates were 1771, 1774, and 1777. The coins are an almost exact copy of the omnipresent, and hugely popular South American pillar dollars that then dominated world trade markets. Although these coins were never intended for the Danish island possessions in the Western Hemisphere, they nevertheless bear the names of Iceland, Greenland, and Faeroe -- which has earned them the moniker of "Greenland dollars." As can be seen above, survivors are exceptionally rare.
Estimated Value $25,000 - 30,000.
Ex Irving Goodman Collection.

Realized $39,100

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