SUMMER 2024 ROSA AMERICANA SELECTIONS

17. 1773 Virginia Halfpenny. Newman 27-J, W-1585. Period After GEORGIVS, 7 Harp Strings. Rarity-2 as a variety, Rarity-7 with obverse counterstamped R.P.S. About Uncirculated, a lovely coin with just light wear at the highpoints of either side, and exceptionally nice color and surface quality. While an AU Virginia is nothing too special, even one without the heavy spotting seen on many of the higher-grade examples from the famous Cohen Hoard, this coin is made far more special by the initials R.P.S. counterstamped at the center obverse. This counterstamp was done with a logotype punch, not individual letters, and is not found on any coin other than Virginia coppers. In the December 2012 issue of The Colonial Newsletter (now available for free on the Newman Numismatic Portal), Roger Moore and Dennis Wierzba illustrate 9 examples (including this, which is Illustration F on Plate 2), and note the existence of a couple more that they were not able to have photographed. With a dozen or so known to the authors, the existence of a few more pieces is certain, so there are perhaps 15 or so examples of this counterstamp known. All examples seen are in high grade (EF at the minimum), and all have the R.P.S, counterstamp centered on the obverse, punched vertically (a few show more than one punch, and one has the counterstamp rotated so that the R is at the bottom of the coin and the S at the top). There was clearly some care given to the placement of the counterstamp, and that care may have gone into the selection of the host coins as well, as all 9 examples illustrated in the CNL article are high grade, with clean, smooth surfaces, including one that was later holed. The authors discount the possibility of this being a merchant or tradesman's counterstamp and instead propose that these were actually done for use as communion tokens, possibly by the Reformed Presbyterian Synod – R.P.S. – of Pennsylvania. Some of the churches that splintered from that group were in an area that later became West Virginia, and the printed history of those churches mention the use of communion tokens but does not describe them, which certainly adds credence to the theory. Communion tokens were in wide use at the time, and several types are known for North America, the most famous being the Albany Church Pennies. The Virginia halfpennies with the R.P.S. countermark are known on just four varieties – Newman 23-Q. 25-M, 26-Y, and 27-J. The authors also suggest the counterstamps were applied in the 1775-1810 period, on coins pulled from circulation, with the light wear on known specimens from their gentle use within the church. A fascinating and rare issue, we note none were in the Syd Martin collection of Virginia halfpennies.

$900

49. 1787 Excelsior Copper. W-5795. Rarity-6+. Indian / New York Arms. PCGS Graded EF Details--Environmental Damage, an accurate grade. This is the Ted Craige example of this rarity, a coin that was off the market for nearly a half century between the time Craige purchased it as a dealer and when it was offered in the Stack's Bowers March 2013 sale of his collection, as Lot 314, where it was described as:

100.31 grains. Charcoal-gray and brown with fine surface granularity akin to burial patina or fire scale. Some raised metal specks on the obverse are consistent with heat exposure, mostly scattered around the lower half of the obverse. The sharpness is excellent on both sides; centering is typical with a few denticles visible in the upper right obverse. One of the classic rarities of the Confederation era, with the distinctive Standing Indian design and his accompanying motto LIBER NATUS LIBERTATEM DEFENDO or "Born free, I defend freedom." This issue is thought to have been coined as a pattern in one of the efforts to land a state coinage contract from New York; no state contract was ever awarded. John Ford extensively researched this issue and kept a careful census of it; he counted a dozen specimens, though it is difficult to tell which of his entries (if any) matches up with this one. Ford did note that Mrs. Norweb owned a "VG, corroded" specimen, but no such coin ever turned up in the Norweb sales. Did Mrs. Norweb spin it off to Ted Craige via their mutual favorite dealer Richard Picker in the hopes of getting a better one someday? Or did Ford simply see one somewhere and misremember where he saw it? Ford's own piece sold for just $63,250 in 2004, a seeming bargain considering Garrett's brought $21,000 hammer in 1979. Either Garrett's or Ford's would be a six-figure coin today. This one represents a somewhat different price point that should be very attractive to most collectors who seek an example of this famous rarity. Mr. Craige priced this example at $2,500 circa 1970.

Provenance: From the Ted L. Craige Collection. Paper envelope included.

The coin sold for a strong $55,812.50 in spirited bidding – understandable perhaps, as it had been some time since a higher-grade example had come up for auction, though in the decade since this one sold more examples crossed the auction block than in the previous half century combined, the result of major collections coming onto the market.

Previous census lists have been woefully incomplete, and we have spent several days updating it. There are 15 examples of this issue now known, with the present coin right in the middle of the census;

1. MS64. Louis E. Eliasberg, Sr. (Bowers and Merena, 5/1996), lot 58 at $143,000. Sold as MS65 in the Eliasberg sale, NGC graded MS64 when sold in the Don Partrick collection (Heritage, 1/2021), lot 3932 for an amazing $204,000. This is likely the J.N.T. Levick coin (Woodward 10/1864), lot 1543 described as uncirculated, portions of the copper still bright, without a doubt the finest existing specimen of this very rare coin. It brought $73 to Putnam.
2. Choice AU. Sarah Sophia Banks (1818); British Museum. Listed as Banks-59 in this author's exploration of the colonial coins in her collection, Journal of Early American Numismatics, June 2020 (Vol. 3, No. 1), p. 105. It was noted there that Miss Banks was aware that this was a pattern issue when she acquired the coin, likely in the 1790s.
3. Choice AU. Lorin G. Parmelee (New York Coin & Stamp Co., 6/1890), lot 457; H.P. Smith (Chapman Brothers, 6/1906), lot 124; Col. James W. Ellsworth; John Work Garrett; Johns Hopkins University (Bowers and Ruddy, 11/1979), lot 601. Graded EF40 in the Garrett sale, we note that Ford called this one VF!
4. AU50 PCGS, lightly cleaned. Eric P. Newman (Heritage, 11/2014), lot 3028, realized $88,125; (Heritage 1/16), lot 1231 at $73,437.50; (Heritage 8/16), lot 3932 at $64,625.
5. AU53 NGC, some notable roughness at top half of the obverse. Harlan P. Smith (S.H. & H. Chapman, 5/1906, lot 124, graded EF, at a strong $130; William Sumner Appleton; Massachusetts Historical Society; ANA Sale (Stack's, 8/1976), lot 72; Baltimore Auction (Stack's Bowers, 10/2018) at $48,000, lot 7090; Dickson (Heritage 8/21), lot 3293, selling for $50,400. Yes, the slab grade is a bit higher than the Newman and Garrett coins above, but those are nicer in every respect, and do not have the rough obverse surfaces that this AU53 has.
6. XF. F.C.C. Boyd Estate; John J. Ford, Jr. (Stack's, 5/2004), lot 312, at $60,500. Oddly, Ford was able to find no previous provenance for this coin.
7. XF. Joseph Mickley (Woodward, 10/1867) at $90; Charles Ira Bushnell (S.H. & H. Chapman, 6/1882), lot 888, described as purple brown color and bringing $105 to Allison W. Jackman, but not included in the H. Chapman sale of that collection 6/1918; possibly traded away: we note that Jackman purchased the George Clinton cent the lot before this in the Bushnell sale as well, but the one sold in his collection was a private sale from Dr. Hall. Later in the Brand Collection. Only the obverse was photographed on the Bushnell auction plates, and the centering does not appear to match any of the above coins.
8. XF Details PCGS, the present coin, ex Ted Craige collection. Likely not the piece thought to be ex Norweb (see number 13 and 14 below). One can debate where in the census it ranks due to the details vs. straight grade. Sold in the Craige sale for $55,812.50.
9. VF30 PCGS. Alexander Bache (Woodward, 3/1865) described as very fine indeed, but little circulated, selling for $77.50; Heman Ely (Woodward, 1/1884), lot 1013 selling for $75. Peter Gschwend (collection purchased intact by William H. Woodin, then consigned for auction to Elder 6/1908), lot 87; F.C.C. Boyd Collection; Boyd Estate to New Netherlands Coin Company on April 25, 1958; John L. Roper (Stack's 12/83), lot 275; Americana sale (Stack's 1/98), lot 198; (Stack's 5/07), lot 521 (at $103,500!); Syd Martin (Stack's 3/23), lot 1083, at $36,000. The Ely plate shows only the obverse, but the centering and strike match.
10. VF20 PCGS John G. Mills Collection (Chapman Brothers, 4/1904), lot 348; John Story Jenks Collection (Henry Chapman, 12/1921), lot 5493; Donald Groves (Partrick) Sale (Stack's, 11/1974), lot 336; Henry P. Kendall Foundation (Stack's, 3/2015), lot 2511, at $58,750; Willis (Heritage 8/17), lot 3828, sold for $47,000. Earlier census listings erroneously called the Mills and Jenks listings different coins, but they are in fact the same.
11. VF details, very flawed planchet. Charles Clay (William Strobridge, 12/1871), lot 89, realizing $27. James Ten Eyck (B. Max Mehl, 5/1922), lot 816. Described as Struck on an imperfect planchet, obliterating LIBER NATUS on obverse, and part of Figure on reverse, otherwise Fine. Ford graded it Good, and said the coin was filed, not weakly struck on a flawed planchet; the surviving detail would likely grade VF today, and it appears the weakness is as struck; it brought $21 in 1922, but has not been seen since.
12. Fine, holed. Matthew Stickney (Henry Chapman, 6/1907), lot 240. Called Good. Bad hole below Indian's feet, it realized $10. The plate shows a coin of near VF detail, the hole quite large and near the lower rim, causing a bulge there. Later W. B. Guy (Henry Chapman, 11/1911), lot 75, realizing $7.50. The coin was later plugged, the bulging edge filed down, and tooled, strengthening some of the lettering at the left obverse; later in New Netherlands Coins 44th Sale (6/54, lot 71), graded VG, with the plug noted. In previous censuses this was called two different coins, but is indeed the same specimen.
13. VG. Henry Dittmer, lightly rough (Heritage 5/11), lot 3687, selling for $20,400. This or the following coin, is likely the piece that Ford said was part of the Norweb collection (called VG corroded), and not the Craige piece offered here, as was surmised in that catalogue – not even Ford would have called the Craige piece a VG!
14. VG8 PCGS (Heritage 8/22), lot 3861, sold for $25,200, later (Heritage 1/24), lot 4001, sold for $22,800 – no prior provenance noted, but could also be the ex-Norweb piece mentioned above.
15. Likely Good or so. Thomas Warner (S.H. & H., 6/1884, though erroneously listed in previous censuses as the Mrs. Warner sale of 7/1891), lot 2094. Graded Poor, word NATUS not visible. While a couple of the pieces listed above have NATUS weak, it is visible on all of them, so this likely represents an example that has not been seen in over a century.

There are also a couple coins that have not been firmly traced, but which are likely examples listed above, with these early links of their provenance chains now lost.

X1. Likely EF or better. McCoy (Woodward 5/1864), lot 1763, described as of extreme fineness, realizing $82.50, selling to Dunbar. Given the grade this may be the Mickley coin or any of the ones listed above it, save for Miss Banks's specimen.
X2. Unknown Grade. Jeremiah Colburn (W. Elliot Woodward, 5/1863), lot 2053. Described as not in fine condition, but good for so rare a colonial. It brought $30, just $5 less than what a decent Higley copper realized. This is probably the same coin that was offered in Woodward's sale of his own collection five months later (10/1863), lot 2627, where it was described as in ordinary or rather poor condition and realized $22. Likely offered again by Woodward (12/1865), lot 1732 where it was described as from the Haines collection; not in fine condition, but still a desirable piece), where it only brought $12; this is likely Ferguson Haines who may have purchased it at the second auction noted. Haines conducted a sale of his own collection in 1877, and consigned to other auctioneers in the 1880s and 1890s; he was married in June 1865 and one wonders if he needed to sell some coins to please his new bride, consigning the piece back to Woodward, but getting barely half what he paid for it two years earlier. This is likely one of the final three pieces listed above, though as it was unplated in any of these Woodward auctions, it is unknown which one.

A very rare coin in any condition, and one that is always in demand by advanced collectors – and, a perusal of the above detailed census list will show that many famous collectors of the past lacked it in any grade whatsoever. Amazingly, nine of the fifteen known examples have crossed the auction block in the last 20 years, a quantity coming up for sale in a short period of time that has not been matched since the 1865-1885 era. Rarities like this tend to get locked up in major collections, and are off the market for decades – and when one appears after a long dry spell, the bidding can be furious! Such was the case for this example, which brought under 10% less than the much nicer Ford coin, sold just nine years earlier – but it was also the only example offered at auction in that time, and that created great collector interest. Prices fell as a few more came out, but it will likely be some time before another example is offered – and if there is a long wait before that happens, the bidding will be furious. With more recent auction records of much lower-grade and rough specimens at over $20,000 (see coins 13 and 14 above), and a straight- graded VF at nearly $60,000 (coin 10), and a previous prices realized of over $55,000 for this exact coin, some lucky collector may get the bargain of the year at our price of only……

$20,000

In the PCGS slab as pictured.

59. "1781" (ca. 1820) North American Token. W-13980. Rarity-2. PCGS Graded AU-53, though really any grade up to MS63 would have been warranted. This is Syd Martin's example, the nicest that he was ever able to find = and he considered it a full Uncirculated pieces, as noted on his envelope which accompanies the coin. When sold as Lot 1272 of the 2023 C4 sale, this was catalogued by Stack's Bowers as:

Though dated 1781, the North American token is thought to actually date to the 1810-1820 period, as evidenced by ca.1820 Canadian tokens of similar design and fabric as well as punch linkage (discovered by Doug Winter, now known as a U.S. gold coin specialist) to Irish tokens from the second decade of the 19th century. Winter also theorized that the 1781 date commemorated Cornwallis' surrender at Yorktown, though we find this strange for a token whose chief circulation was in Canada, the land to which loyalists escaped the Revolution! This is a superior example of the type, with luster and golden-brown patina, and though graded AU-53, it compares favorably to examples in the AU-55 to AU-58 range.

Provenance: From the Sydney F. Martin Collection. Earlier ex the Lawrence R. Stack Collection, November 2006.

A common token, in decidedly uncommon condition. While neither grading service has certified a fully Uncirculated one, this and a few others known that have been graded AU do not show any actual wear, just a bit flatness of strike on the seated figure's head – detail which is never found fully struck up. The highest grade example slabbed is a PCGS AU58 that brought nearly $4,500 in a 2017 Heritage sale – and that piece was distinctly weaker than this one, which shows more detail in the seated figure's gown, and the hull and sails of the ship – certainly a candidate for regrading! An AU58 in brass, in the same firm's July 2006 auction brought a similar price and it too was far weaker than this specimen. The fact that Syd considered this a full Unc., and had the resources to upgrade if he saw a nicer one, speaks volumes. This is the finest North American token we have ever seen, and would comfortably fit into the finest colonial collection

$1,750

In the special Syd Martin PCGS holder as pictured, accompanied by Syd's original handwritten envelope where he calls this Unc., and the original round ticket from Larry Stack.

To read the earlier E-Sylum article, see:
SUMMER 2024 ROSA AMERICANA FIXED PRICE LIST (https://www.coinbooks.org/v27/esylum_v27n30a21.html)

	NBS (coinbooks.org) Web