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    (1790) Albany Church Penney, XF Details
    Very Rare No D, W-8495 Variety

    ALBANY PENNY Albany Church Penny, No D, Breen-1169, W-8495, R.7 -- Environmental Damage -- PCGS Genuine. XF Details. The First Presbyterian Church of Albany, New York issued 1,000 uniface copper tokens in 1790, to aid parishioners in finding suitable coins for their offerings. There was a chronic shortage of small change in the newly established United States at the time, as the Mint Act of 1792 would not be signed by Congress for another two years. Circulating coinage consisted of a hodge-podge of coins from all nations and the various states, and often included under-weight or counterfeit specimens. The Albany Church Pennies were issued at the rate of 12 to one shilling and two varieties were produced. This coin represents the W-8495 variety, without the large D that appears above CHURCH on the other variety. The Albany Church Penney began appearing at auction at least as early as lot 2079 of the Second Semi-Annual Sale (W. Elliot Woodward, 4/1863), where the coin realized $18, a substantial price for the time. The other variety, with the large D, was offered in the next lot in that sale and realized $25. Both varieties are very rare today, with less than a dozen examples of each extant. All examples seen are well-worn. Recent sales of the W-8495 include the VF30 PCGS example in lot 3912 of the ANA Signature (Heritage, 8/2015), which realized $30550.

    This impressive specimen shows XF sharpness on the simple design elements, with CHURCH spelled out clearly in print and PENNEY inscribed in cursive underneath. The border remains complete, although weak in some places. The surfaces show some evidence of corrosion and extensive verdigris and the planchet is clipped at 10 o'clock on the obverse. Listed on page 77 of the 2017 Guide Book.

    Coin Index Numbers: (NGC ID# 2B5P, PCGS# 612)

    View Certification Details from PCGS

    Auction Info

    Auction Dates
    September, 2016
    7th-11th Wednesday-Sunday
    Bids + Registered Phone Bidders: 31
    Lot Tracking Activity: N/A
    Page Views: 869

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $19) per lot.

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    I wish to extend our appreciation to you for over $925,000.00 realized from the above subject auction. This amount realized was approximately $110,000.00 more than we anticipated.
    Federal Deposit Insurance Corporation,
    Newport Beach, CA
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