The E-Sylum:  Volume 7, Number 30, July 25, 2004, Article 5

THE ENIGMATIC "E" AND "L" COUNTERSTAMPED QUARTERS

  The July 2004 issue of the John Reich Journal, official
  publication of the John Reich Collectors Society, features
  an extensive two-part article by Ted McAuley detailing his
  theories on the unusual "E" and "L" counterstamps found on
  the obverse of many 1815 and 1825 U.S. quarters.  He
  makes a very interesting case for the coins' origins with the
  Harmony Society of Economy, Pennsylvania, source of the
  famous Economite Hoard of early 19th-century coinage
  dispersed beginning in 1881.  He writes:

  "I believe that the "E" and "L" countermarked quarters of
  1815 and 1825 originated at the Harmonist Community of
  Economy, Pennsylvania.  The dates of 1815 and 1825 were
  highly symbolic for a community whose daily religious
  underpinnings relied heavily on symbolism, and represented
  the founding dates of their last two settlements (Harmony-
  on-the-Wabash and Economy).  Dates would symbolically
  distinguish between "veteran" (1815) and "novice" (1825)
  membership in the Society during the Great Schism of 1832."

  "I believe the "E" represented either "Economite" or "Economy",
  while "L" represented either "Leonite" or "Leon".

  "The coins probably served as voting tokens during the
  pivotal "showdown" recalled by Jacob Henrici - a vote that
  determined whether the loyalists (Economites) or the
  seceders (Leonites) commanded the allegiance of the majority
  of Harmonist members."

  [The journal has published several articles on these interesting
  coins over the years, at a level of detail only a specialty
  publication can provide.  If you collect early U.S. coins, a
  subscription is a must.  See jrcs.org for more
  information. -Editor]

  Wayne Homren, Editor

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