Lot 1485
1776 Continental Currency. "CURRENCY". Pewter. PCGS graded EF-40 PQ. Old green holder. Gun Metal grey. A few marks but generally choice, historic, and attractive. Pop 4; 40 finer (PCGS # 794) .
The Continental Currency unit is the first large, dollar-size coin proposed for the United States. A private issue, whose types derive ultimately from designs popularized by Benjamin Franklin, its place of minting and ultimate coinage purpose remain obscure. Silver specimens, which are very rare, appear to have been struck to a close approximation of the value of a dollar on the New York standard ($1 = 8 shillings). Specimens struck in metal de cloche may have served some currency purpose, perhaps passing as pence (again, on the New York standard, at 12 pence to the shilling). The tin specimens, which are the most often encountered today, can have only a conjectural purpose. Possibly, they were intended as tokens, although it would be difficult to understand why they should be accepted in trade in lieu of good weight (or even, for that matter, no weight) halfpence, both royal and counterfeit. Possibly they were pattern strikes, as has been proposed elsewhere, but in this case, the number of patterns surviving surpasses the number of pieces struck with a currency intent. Another suggestion holds that with the shortage of copper early in the Revolutionary War, the metal necessary for the casting of cannons, the issue originally intended in metal de cloche was replaced by an issue in tin. At present, none of these questions is absolutely answered. Studies of the Continental Currency tend to point to New York as the place of minting.
Estimated Value $20,000 - 24,000.
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| Realized $27,600 |
