GOLDSTEIN AND MCCARTHY ON THE CONTINENTAL DOLLAR

We all know that a frequently repeated theory tends to gain traction over time, often morphing into generally accepted fact. This seems to be the case with the Continental Dollar. But maybe it’s time for a fresh look at the plain facts, which is the intended goal of this article. Stripped bare, the truths behind the creation of these pieces are sure to raise some eyebrows.

Let’s start this exploration by leaving the stand­ard numismatic references on the shelf and heading right for the “primary sources.” These are the original words written, or not written, about the Continental Dollar during the time of its creation and initial availability, taken strictly from those familiar with the coins and the official entity that is supposed to have issued them. As such, these contemporaneous testimonies represent the most credible form of historical information on this subject.

du Simitière died in October 1784 before he could complete his historiographical work. To settle his estate, his vast collection of coins, books and papers, as well as the contents of his private museum of natural history, were sold at auction in Philadelphia. Today, there are significant repositories of his papers at the Library Company of Philadelphia and the National Archives in Washington D.C.

Among the holdings of the latter are two texts of utmost importance to this subject. The first is du Simitière’s chronological list of the coins, medals and paper notes he acquired between August 1775 and December 1783, detailing 137 separate entries. Clearly a voracious and astute collector, du Simitière noted in his memorandum nine pieces of Massachusetts silver, seven Higley coppers and a Lion & Wolf medal, along with other material we’d all kill for.

Most important to our examination, no Continental Dollar was listed. Thus, du Simitière hadn’t acquired one by the end of 1783, more than seven years after their supposed date of striking. Curious, eh?

But wait, there’s more. Du Simitière also had a plan in the works to publish a history of the American colonial period and the Revolution entitled Common Place Book, 1775-1784, illustrated by “Medals, Seals, Coins, Devices, Statues, Monuments, Badges, &c…” Appearing at the end is a list of intended plates, including many familiar treasures like Comitia Americana medals and a Virginia “Happy While United” medal of 1780.

Entry No. 18, though, is of great interest to us:

Are we to believe that a historian and collector of du Simitière’s stature and awareness, with so many ties to the Continental Congress, was unable to collect an example of the pewter (that is, “Type-Metal”) money purportedly issued by that very governmental body? Could he have been so grossly mistaken about the piece’s true origin? How would you like to buy a bridge in Brooklyn?

Directing our attention across the ocean to London, we next delve into the ledgers left by Sarah Sophia Banks. Completed by 1815 and augmented until her death in 1818, these eight volumes detail the 9,000 numismatic items she collected, now fundamental cores of the collections at the British Museum and the Royal Mint Museum. First listed in Banks’ pre-1790 catalogue of acquisitions, the Continental Dollar in her collection was described as

Toward the end of her life, Banks was tidying up the documentation of her legacy and had occasion to mention this enigmatic piece once again in a new ledger, this time adding further fuel to our collective fire. Added to her restatement of what she believed about these pieces, in her own hand, is a tipped-in flyer, measuring 61/8” x 43/8,” carrying these typeset words:

As was customary during the 18th century, certain medals—especially those with allegorical representations that might not have been easily understood on their own—were sold with descriptive flyers. Such was the case with a number of medals struck in Europe that commemorated the end of the Revolutionary War, and the Treaty of Paris. This ephemeral leaflet, carefully preserved by Banks, is perhaps the only surviving explanatory flyer that originally accompanied the sale of one of these “Congress Dollars.”

In light of the above evidence, can we accept these “Continental Dollars” as American-made Revolutionary coins of 1776? What if they are just cheap European commemoratives, privately produced as little more than “for sale” pieces of merchandise? In the near future, we plan to present a follow-up to this article, in which we will look at some of the questionable “facts” that have made it into print regarding this numismatic enigma.

To read earlier E-Sylum articles, see:
NOTES ON THE ORIGINS OF THE CONTINENTAL DOLLAR (http://www.coinbooks.org/v20/esylum_v20n41a16.html)
ONGOING THOUGHTS ON THE CONTINENTAL DOLLAR (http://www.coinbooks.org/v20/esylum_v20n43a12.html)
CONTINENTAL DOLLARS REVISITED (http://www.coinbooks.org/v21/esylum_v21n14a13.html)

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