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    Description

    (1860) Waterhouse Token, AU58
    Early Hawaiian Issue, M. 2TE-1

    (1860) TOKEN Waterhouse AU58 PCGS. M. 2TE-1. John T. Waterhouse opened an import (mostly dry goods) business in Honolulu , Hawaii in 1851. It is believed that he issued the first tokens in the islands, circa 1855-1860. These large white metal pieces feature the likeness of King Kamehameha III, but the inscription reads Kamehameha IV. It seems likely that the token was designed during the reign of the first monarch, but only issued after his nephew assumed the throne in 1855. Changing the inscription was a simple matter, but changing the bust would have been problematic.

    The Waterhouse tokens are scarce issues in today's market, rarely found in grades above the XF level. The soft white metal alloy caused prominent features, like the king's nose, to blunt easily, and almost all examples seen show some softness in this area. This attractive near-Mint example is sharply detailed in all areas except the nose, and the lightly abraded surfaces retain traces of original mint luster. Altogether, a handsome example of this sought-after early token. Listed on page 414 of the 2016 Guide Book. Population: 2 in 58, 2 finer (7/15). (NGC ID# 2UBK, PCGS# 600500)


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    Auction Dates
    September, 2015
    17th-20th Thursday-Sunday
    Bids + Registered Phone Bidders: 12
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