(1652) SHILNG New England Shilling, XF40 PCGS Secure. Noe 3-A, W-70, Salmon 3-B. R.7....

Click the image to load the highest resolution version.

Sold on Jan 4, 2018 for:

$108,000.00 Bid Source: HA.com/Live bidder

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

(1652) NE Shilling, XF40
Noe 3-A, High R.7
The Finest Known Example

(1652) SHILNG New England Shilling, XF40 PCGS Secure. Noe 3-A, W-70, Salmon 3-B. R.7. 66.20 grains. Die alignment:180°. A lovely example of this iconic early American coin. The Noe 3-A is among the rarest varieties of NE shillings. Indeed, Christopher Salmon's 2010 study of Massachusetts silver coinage had to use an enhanced halftone illustration of the Eliasberg-Partrick example to illustrate it, as he was unable to locate an example to photograph. This piece was struck on an unusually clean planchet, with a few very small depressions but without the pitting sometimes seen on these early Massachusetts productions. It has developed an attractive gunmetal gray patina over the centuries and has not been subjected to cleaning or any attempted "improvements" by previous caretakers. The planchet is a bit taller than it is wide (with dimensions of approximately 29 by 28 mm), which is not unusual. Two old furrows crease the surface, the first on the obverse running to the left of the NE cartouche and the second on the reverse running into the right side of the XII.

The Obverse 3 punch is actually the previous Obverse 2 punch that has been re-engraved. Both punches show a thin, curved die crack extending from the E down to the long flourish of the N. The lowest horizontal stroke of the E has been recut and is thicker to the left of the crack and thinner to the right. The NE coinage was not struck with engraved dies like most coins. Instead, punches were used, much like the punches used by silversmiths for hallmarks and for decorative devices -- which should come as no surprise since these coins were produced by silversmiths John Hull and Robert Sanderson, Sr. The punches consisted of a length of steel that was thick where it was to be struck by a hammer and thin at the tip comprising the actual punch, which would be engraved into a small flat surface (visible surrounding the NE or XII lettering). They would wear down more quickly than most dies and required regular re-engraving. The reverse punch on this variety had been in use for quite a while by the time this shilling was produced. The die break at the top of the X has grown to connect both of the top arms of the letter as well as extend down the left side and reach up toward the top margin of the cartouche. Tiny additional die breaks extending upwards from both I's, mentioned by Salmon but not visible in his photo, are quite clear on this example.

The NE coinage plays an important role in the history of the Massachusetts Bay Colony. The colony authorized Hull to establish the mint on his property on May 26, 1652. While production began almost immediately, it was halted on October 19 of the same year by the General Court, which ordered that the designs be changed to what is today known as the Willow Tree type. The NE coinage was struck for only seven weeks or so, and yet their status as foundational American coins remains unrivaled.

Our current census of Noe 3-A NE Shillings is as follows:

1. XF PCGS. Gable Collection (S.H. Chapman, 5/1914), lot 147; C.H. Stearns Collection (Mayflower, 12/1966), lot 3. In an earlier version of this census published in our January 2015 catalog of the Donald Groves Partrick Collection, we had estimated the grade of this example as Fine, based on the low-quality halftone illustration published in the 1966 sale. As it turns out, the coin is substantially better than that and is in fact the finest of the five known specimens. The present coin.

2. XF, estimated grade. Massachusetts Historical Society. The Noe plate coin (Plate I, No. 6). This is ranked No. 1 in the census published in the August 2010 issue of the Colonial Newsletter, but appears to have a crimp at 3 o'clock.

3. Scratches -- NGC Details -- VF. Louis E. Eliasberg, Sr.; Eliasberg Estate (Bowers and Merena, 5/1996), lot 1; Anthony Terranova; Jon Hanson (5/20/1996); Donald Groves Partrick (Heritage, 1/2015), lot 5516.

4. VF, estimated grade. Dr. Phillip Nelson; C.A. Watters (Glendining & Co., 5/1917), lot 197; Mabel Brady Garvan Collection; Yale University.

5. VF, with pitting. Essex Institute (Stack's, 2/1975), lot 1; VIP Sale (Amwest Numismatics, 11/1981), lot 3; Wyatt Collection (Superior, 9/1985), lot 1.

While the finer details of grading are subject to disagreement -- especially the effect of problems on a coin's overall grade -- it is clear that if we remove from consideration the two examples of Noe 3-A that are permanently impounded in institutional collections, the present coin is unquestionably the finest known in private hands. Listed on page 39 of the 2018 Guide Book.
Ex: Gable Collection (S.H. Chapman, 5/1914), lot 147; Stearns Collection (Mayflower, 12/1966), lot 3.

Coin Index Numbers: (NGC ID# 2AR9, PCGS# 13, Greysheet# 387)

View Certification Details from PCGS