The E-Sylum:  Volume 6, Number 33, August 17, 2003, Article 12

NEW ORLEANS PLANTERS' BANK INFORMATION

  Karl Moulton writes: "In response to Bob Leonard's
  request on the Planter's Bank C/S cut quarters,  I can offer
  the following:

  One of the earliest appearances in any American auction
  catalogue of the Planter's Bank cut and counterstamped 8
  Real quarter pieces can be found in the June 26, 1890
  Lorin Parmelee sale conducted by New York Coin &
  Stamp (Harlan P Smith & David Proskey) lots #290 & #291.
  The first lot is of a genuine piece (which sold for $9.), while
  the second lot contains a piece with an additional stamp
  "Bad" (this lot sold for $4.50).

  Interestingly, Parmelee had 5 different cut Spanish pieces
  with PB counterstamps.  The design, as described in the
  Parmelee catalogue is, heraldic eagle: NOUVELLE
  ORLEANS, P. B. in circle of 16 stars and links.  Although
  they were not considered important enough to include in
  the sale catalogue, there were plates of these five pieces
  taken by Boston photographer Baldwin Coolidge shortly
  before the sale took place.  The one set still extant was
  offered in the March 23, 1995 Armand Champa II sale,
  conducted by Bowers & Merena, lot #1409.

  These pieces were formerly considered tokens, primarily due
  to Lyman Low's incorrect attribution to Puech Bein & Co.,
  approximately 100 years ago.  They are not tokens, but
  rather emergency issued coinage which circulated as "interim"
  American quarter dollars in the Louisiana area between 1811-
  1816.  These unofficial American counterstamped quarter
  pieces were needed to help with the daily commerce and
  exchange of smaller Spanish "bits" which were valued at
  12 1/2 cents.  The reason they stopped circulating was due to
  the arrival of nearly 70,000 pieces of the newly re-instated and
  re-designed 1815 United States quarter dollars from the
  Philadelphia mint aboard the ship Big Free Ocean.

  It was at the insistence of Planter's Bank cashier, Bailey
  Blanchard (as per the board members of the bank), that we
  had the quarter dollar denomination continuing as a circulating
  denomination in the United States.  Production had been
  unofficially discontinued in 1807, after Senator Uriah Tracy
  had re-introduced legislation to make twenty cent and two
  cent pieces.

  There have been various offerings of these Planters Bank pie
  shaped cut and counterstamped pieces scattered throughout
  American coin auction catalogues over the years.  I too,
  would be interested in knowing about the 1863 French book
  which has a reference noting these were American related
  pieces."

  Wayne Homren, Editor

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