This example first appeared in public auction in 1952 during New Netherlands' section of the ANA auction, described as: “Absolutely the finest specimen of this rarity we have ever seen.” It was acquired by legendary dealer Wayte Raymond and sold as part of his estate. It next appeared at auction on May 11, 2004, in the John J. Ford, Jr. Collection, Part 2 sale. Described again as “one of the finest seen,” it realized a record price for the issue, $48,300.

The North West Company was established by Montreal fur traders in 1779 and rapidly expanded across North America and into Oregon Country. With great success, North West’s agents bought animal furs and beaver pelts from trappers and natives. Gradually, competition and territorial disputes with its rival, Hudson’s Bay Company, wore on North West, forcing the two companies to merge in 1821. To satisfy the requirements of its Royal Charter, Hudson’s name was retained.

Perhaps prompted by its financial position, in its final year of operation under its name, North West Company issued tokens redeemable in trade goods with the value of one beaver pelt. They were struck in England in both brass and copper and issued with holes for suspension. Their obverse shows a draped laureate bust of King George IV of England and the date 1820. On the reverse, a well-rendered beaver is surrounded by the company’s name.

To read the complete article, see:

	NBS (coinbooks.org) Web