17. 1773 Virginia Halfpenny. Newman 27-J, W-1585. Period After GEORGIVS, 7 HarpStrings. Rarity-2 as a variety, Rarity-7 with obverse counterstamped R.P.S. AboutUncirculated, a lovely coin with just light wear at the highpoints of either side, andexceptionally nice color and surface quality. While an AU Virginia is nothing too special, evenone without the heavy spotting seen on many of the higher-grade examples from the famousCohen Hoard, this coin is made far more special by the initials R.P.S. counterstamped at thecenter obverse. This counterstamp was done with a logotype punch, not individual letters, and isnot found on any coin other than Virginia coppers. In the December 2012 issue of The ColonialNewsletter (now available for free on the Newman Numismatic Portal), Roger Moore and DennisWierzba illustrate 9 examples (including this, which is Illustration F on Plate 2), and note theexistence of a couple more that they were not able to have photographed. With a dozen or soknown to the authors, the existence of a few more pieces is certain, so there are perhaps 15 or soexamples 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 showmore than one punch, and one has the counterstamp rotated so that the R is at the bottom of thecoin and the S at the top). There was clearly some care given to the placement of thecounterstamp, and that care may have gone into the selection of the host coins as well, as all 9examples illustrated in the CNL article are high grade, with clean, smooth surfaces, includingone that was later holed. The authors discount the possibility of this being a merchant ortradesman's counterstamp and instead propose that these were actually done for use ascommunion 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 WestVirginia, and the printed history of those churches mention the use of communion tokens butdoes not describe them, which certainly adds credence to the theory. Communion tokens were inwide use at the time, and several types are known for North America, the most famous being theAlbany Church Pennies. The Virginia halfpennies with the R.P.S. countermark are known onjust four varieties - Newman 23-Q. 25-M, 26-Y, and 27-J. The authors also suggest thecounterstamps were applied in the 1775-1810 period, on coins pulled from circulation, with thelight wear on known specimens from their gentle use within the church. A fascinating and rareissue, 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 GradedEF 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 firescale. Some raised metal specks on the obverse are consistent with heat exposure, mostlyscattered 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 classicrarities of the Confederation era, with the distinctive Standing Indian design and hisaccompanying motto LIBER NATUS LIBERTATEM DEFENDO or "Born free, I defendfreedom." This issue is thought to have been coined as a pattern in one of the efforts to land astate coinage contract from New York; no state contract was ever awarded. John Fordextensively 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 notethat Mrs. Norweb owned a "VG, corroded" specimen, but no such coin ever turned up in theNorweb sales. Did Mrs. Norweb spin it off to Ted Craige via their mutual favorite dealer RichardPicker in the hopes of getting a better one someday? Or did Ford simply see one somewhere andmisremember where he saw it? Ford's own piece sold for just $63,250 in 2004, a seemingbargain considering Garrett's brought $21,000 hammer in 1979. Either Garrett's or Ford's wouldbe 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 pricedthis 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 hadbeen some time since a higher-grade example had come up for auction, though in the decadesince this one sold more examples crossed the auction block than in the previous half centurycombined, 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 thecensus;

1. MS64. Louis E. Eliasberg, Sr. (Bowers and Merena, 5/1996), lot 58 at $143,000. Sold asMS65 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 It brought $73 to
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; JohnsHopkins University (Bowers and Ruddy, 11/1979), lot 601. Graded EF40 in the Garrett sale, wenote 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 thoseare 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 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 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 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 StoryJenks 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

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

X1. Likely EF or better. McCoy (Woodward 5/1864), lot 1763, described as realizing $82.50, selling to Given the grade this may be the Mickley coinor 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. Describedas It brought $30, just $5 less than what adecent 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 and realized $22. Likely offered again by Woodward(12/1865), lot 1732 where it was described as

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 pastlacked it in any grade whatsoever. Amazingly, nine of the fifteen known examples have crossedthe auction block in the last 20 years, a quantity coming up for sale in a short period of time thathas not been matched since the 1865-1885 era. Rarities like this tend to get locked up in majorcollections, and are off the market for decades - and when one appears after a long dry spell, thebidding can be furious! Such was the case for this example, which brought under 10% less thanthe much nicer Ford coin, sold just nine years earlier - but it was also the only example offeredat auction in that time, and that created great collector interest. Prices fell as a few more cameout, but it will likely be some time before another example is offered - and if there is a long waitbefore that happens, the bidding will be furious. With more recent auction records of muchlower-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 thisexact 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 notedon his envelope which accompanies the coin. When sold as Lot 1272 of the 2023 C4 sale, thiswas catalogued by Stack's Bowers as:

Though dated 1781, the North American token is thought to actually date to the 1810-1820period, as evidenced by ca.1820 Canadian tokens of similar design and fabric as well as punchlinkage (discovered by Doug Winter, now known as a U.S. gold coin specialist) to Irish tokensfrom the second decade of the 19th century. Winter also theorized that the 1781 datecommemorated Cornwallis' surrender at Yorktown, though we find this strange for a tokenwhose chief circulation was in Canada, the land to which loyalists escaped the Revolution! Thisis 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 theSydney F. Martin Collection. Earlier ex the Lawrence R. Stack Collection, November 2006.

A common token, in decidedly uncommon condition. While neither grading service has certifieda fully Uncirculated one, this and a few others known that have been graded AU do not show anyactual wear, just a bit flatness of strike on the seated figure's head - detail which is never foundfully struck up. The highest grade example slabbed is a PCGS AU58 that brought nearly $4,500in a 2017 Heritage sale - and that piece was distinctly weaker than this one, which shows moredetail in the seated figure's gown, and the hull and sails of the ship - certainly a candidate forregrading! An AU58 in brass, in the same firm's July 2006 auction brought a similar price and ittoo was far weaker than this specimen. The fact that Syd considered this a full Unc., and had theresources to upgrade if he saw a nicer one, speaks volumes. This is the finest North Americantoken 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 originalhandwritten 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)