NEWMAN CHALMERS THREEPENCE, SIXPENCE AND RINGS

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V17 2014 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 17, Number 39, September 21, 2014, Article 24

Maureen Levine kindly forwarded me text and images for several headline lots in the upcoming Heritage sale of Part V of the Eric P. Newman collection. Here are three that particularly caught my eye - some very rare examples of Chalmers coinage. I don't think I've ever set eyes on examples of these. -Editor

1783 Chalmers Threepence AU50 NGC. CAC. Breen-1018, W-1760, R.5. 10.8 grains, 94% silver, 5% copper, per NGC metallurgical tests. John Chalmers of Annapolis issued silver threepence, sixpence, and shillings dated 1783, likely to alleviate a shortage of coinage, and as a response to the refusal of the local population to accept lightweight Spanish bits that were literally cut from Spanish milled dollars. Who could blame the citizens when unscrupulous individuals would cut five "fourths" or nine "eighths" out of a single dollar?

Judging from the condition of most survivors, the Chalmers silver coins were well-received and circulated extensively, despite the estimated 8% profit that Chalmers earned on the venture, according to numismatic researcher and author Philip Mossman. Perhaps his reputation as a community leader and former Continental Army captain aided the circulation of the Chalmers silver coins.

Annapolis, Maryland, planned in 1694, was an upper-class town of brick mansions and polished society, according to an 18th century British official. The town was also a political center that served briefly as home to the U.S. Congress in late 1783 and the first half of 1784. John Chalmers operated his silversmith business in that setting, having an interest in politics and economics. That was the environment of his silver coinage. Will Nipper writes in his book In Yankee Doodle's Pocket: "They may have been advertising pieces, political statements or simply a means of satisfying his customers' need for coinage. The exact reason for their existence is unknown."

The threepence are clearly rarer than the shillings, but they are seen more frequently than the sixpence. This example has splendid pewter-gray surfaces with light silver devices and traces of peripheral champagne toning. The strike is imperfectly centered, although most of the obverse border details are visible.

1783 Chalmers Sixpence, Large Date AU55 NGC. CAC. Breen-1013, W-1765, R.7. 29.3 grains, 91% silver, 9% copper, per NGC metallurgical tests. A period, actually part of the ornamentation, divides the date on this rare Chalmers sixpence variety. The Chalmers sixpence are possibly the least understood issues of the Annapolis silver series. The denomination is rarer than either the threepence or shilling, the four recorded varieties are often confused, and the rarities of each are frequently misstated. The Whitman Encyclopedia of Colonial and Early American Coins lists four distinct varieties of the Chalmers sixpence. The combined rarity ratings as published there suggest a total surviving population of 38 to 68 pieces.

The W-1765 variety is recorded in the Whitman reference as "URS-2 or 3 (?)" suggesting that two to four examples are known. It is our opinion that the actual population ranges from eight to 10 pieces, based on several auction appearances, including some possible misattributions. Two of the three examples illustrated at the PCGS Coin Facts website are from this die pair.

This extraordinary example is the finest Chalmers sixpence that we have handled, and it is finer than any others that have appeared in recent times, to the best of our knowledge. The next finest sixpence that we are aware of is an XF45 PCGS example of this same variety that is illustrated at PCGSCoinFacts.com. The present sharply detailed piece has exceptional silver-gray surfaces with blue and gold accents.

The clasped hands at the center of the cross are nicely delineated. This remarkable Chalmers sixpence may qualify as one of the finest surviving representatives of the rare denomination.

1783 Chalmers Shilling, Rings--Holed--NGC Details. AG. Breen-1010, W-1795, R.7. 52.5 grains, 91% silver, 8% copper, per NGC metallurgical tests. There are only five known examples of this extremely important Chalmers variety, including this example, the Lauder coin that is plugged,, one from the Norweb Collection (donated by the family to the Smithsonian Institution), the Garrett piece, and the Mickley-Ford example that was the only one known to Crosby, who wrote: “The shilling first to be described is supposed to be unique. … At the sale of the Mickley collection (No. 2527,) it brought fifty dollars: as its present owner is unknown to us, no further particulars regarding it can be given.”

The obverse of the Rings shilling has the central cursive inscription “Equal to One Shi” above clasped hands, with the date and peripheral legend I. CHALMERS ANNAPOLIS. The reverse has a circle of 12 intertwined rings with a 13th ring inside the circle at the bottom. Stars appear inside 11 of the 12 outer rings, with a Divine Eye, a Liberty cap on a pole, and two additional stars at the center.

Ex: "Colonel" E.H.R. Green; Green Estate; Partnership of Eric P. Newman / B.G. Johnson d.b.a. St. Louis Stamp & Coin Co.; Eric P. Newman @ $25.00; Eric P. Newman Numismatic Education Society.