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Lot
3008

1776 $1 Continental Dollar, CURRENCY, Pewter AU55 PCGS. Newman 2-C; W-8455, R.3. ...

2012 July 12-15 US Coin Summer FUN Signature Auction - Orlando #1172

 
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Auction Ended On: Jul 12, 2012
Item Activity: 9 Internet/mail/phone bidders
4,855 page views
Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:

1776 Continental Dollar, AU55
Newman 2-C
CURRENCY Spelling
1776 $1 Continental Dollar, CURRENCY, Pewter AU55 PCGS. Newman 2-C; W-8455, R.3. Little evidence exists of the history of the Continental Currency coins, although it is certain that they were struck in 1776 as the date suggests. They were almost certainly produced in New York, and Michael Hodder believes they were minted in the late summer, just prior the British capture of the city in September. It is thought that these pieces were made to replace the paper dollar, and in fact, the New York paper money issue of August 13, 1776, omitted that denomination.
Although a few silver and brass impressions are known, nearly all surviving examples are pewter pieces. There was little silver available for coinage at the time, so most likely the pewter pieces were intended as dollar coins, equivalent to the Spanish Milled dollar. A proposed copper coinage was also rumored, according to an article in the June 27, 1776, issue of the New York Journal. The article was part of a "Letter from Philadelphia, Dated 25th June 1776:"

We hear it is proposed, that after three months, the currency of all Copper Coin made of base metal, or wanting in weight, is to be totally suppressed, and that the rest is to pass at the rate of 15 for an eighth part of a Dollar. And if it shall appear that there is not a sufficiency for common use, that it will be all called in, and a new impression struck of Continental Copper Coin, of a larger size, twelve of which is to pass for an Eighth of a Dollar, after which no other Coppers are to pass current.


This Choice AU specimen is an outstanding representative of the 1776 coinage issue, with medium gray surfaces and lighter gray luster in the protected areas. A few scattered marks are expected, given the grade and age of this historic piece. A tiny planchet crack is noted at 3 o'clock on the obverse and at 7:30 on the rotated reverse. Listed on page 85 of the 2013 Guide Book.
Ex: Barrington Sale (Kingswood Auctions, Bowers and Merena, 8/1990), lot 6149; Dr. Joseph M. Seventko Collection; Atlanta Signature Sale (Heritage, 8/2001), lot 5111. (PCGS# 794)

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