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(1652) New England Shilling VF35 NGC. Noe 3-B, W-80, R.7. ...
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Sold on Aug 15, 2023 for:
$84,000.00
Bid Source: HA.com/Live bidder
Description
(1652) New England Shilling, VF35
Noe 3-B, Late Reverse State
(1652) New England Shilling VF35 NGC. Noe 3-B, W-80, R.7.
69.4 grains. Punch alignment: 180º. An attractive and wholly
original example of this foundational American coinage, with much
to interest variety specialists. Both punches are more boldly
impressed toward the top than the bottom. On the obverse, the NE
fades into the background at the very bottom of the letters,
obscuring the oblique flourish of the N, and the lower margin of
the XII punch is indistinct. The obverse punch is a late state,
with the fine die break within the left curvature of the first
upright of the N, which proceeds upward toward the middle of the
upright from the curved lower serif at the left, deteriorating
further, and with some new recutting of the diagonal crossbar of
the N along the top near the first upright. A chip in the cartouche
can be seen clearly at the middle right margin. The XII punch is
also of a late state, with the linear die break that is usually
seen running from the lower margin of the cartouche to the left
base of the second I having widened to the point where the entire
base of the first I is obscured, spreading into the bases of the X
and second I. This variety is the only known use of this punch,
which apparently could not be salvaged and recut for further
use.Although the Massachusetts mint adopted the sterling alloy, its standard was set at 72 grains of .925 silver to the shilling. This was substantially less than the British standard of 92.6 grains, a difference intended to keep the Boston issues in circulation within the Commonwealth and discourage its exportation. The efforts to limit the circulation of Massachusetts silver outside the Commonwealth failed, however, despite the deliberate overvaluation intended to maintain the circulating money supply. As early as August 22, 1654, the General Court had to specifically prohibit the exportation of the Boston's mint's products, implying that such exportation had begun to cause problems. This would have been at a time when the only Massachusetts coinage was of the NE and Willow Tree types, their earliest and most cursory products. Silver was silver, however, and it recognized no borders. Further prohibitions were passed in 1669 and even in 1697, long after the mint had ceased production around 1682 or 1683. Philip Mossman has reported the circulation of Massachusetts silver in Virginia, New York, New Jersey, West Jersey, and Maryland, and as far afield as Barbados and the Leeward Islands. It may not be a coincidence that John Hull himself conducted extensive trade in the West Indies and owned more than one ship that plied that route. While the coin bears a number of marks and small hairlines commensurate with the grade assigned, the surface quality is good, and it retains a glossy appearance that enhances its eye appeal. The coloration is an attractive mottled gunmetal-gray with lighter highlights and is entirely original. A handsome piece with much to commend it. Listed on page 34 of the 2024 Guide Book.
Ex: Ellis Robison Collection (Stack's, 2/1982), lot 4; Stack's (3/1984), lot 915; Christopher J. Salmon Collection (Heritage Auctions, 8/2022), lot 3241.
From The Del Mar Collection.
Coin Index Numbers: (NGC ID# 2AR9, PCGS# 13, Greysheet# 387)
View all of [The Del Mar Collection ]
Auction Info
2023 August 15 - 20 ANA US Coins Signature® Auction #1364 (go to Auction Home page)
Auction Dates
August, 2023
15th-20th
Tuesday-Sunday
Bids + Registered Phone Bidders: 56
Lot Tracking Activity: N/A
Page Views: 1,753
Buyer's Premium per Lot:
20% of the successful bid per lot.
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