1652 Massachusetts Bay Colony Pine Tree Shilling Realizes $76,375 | Silver Coins

1652 Massachusetts Bay Colony Pine Tree Shilling Realizes $76,375

On August 15 Stacks-Bowers sold one particular of the finest Massachusetts Pine Tree Shillings in existence. Certified NGC MS-65+, the example that was becoming supplied was a huge planchet assortment, with pellets at the trunk of the pine tree on the obverse, also recognized as Noe-1. While not specifically uncommon as a range, this distinct coin’s exquisite state of preservation makes it one of the absolute finest recognized examples of this 17th century coin. Dated 1652 but in reality struck circa 1667-1675 it is a prime representative example of the earliest coinage minted in what is now the United States. It realized $ 76,375 including purchasers premium, and not with out purpose, as any gem uncirculated survivor of a 17th century coin kind is a main rarity.

Pine Tree Shilling

In Colonial America, coinage (mostly in the form of gold and silver) was scarce in commerce, leading to complications in day-to-day trading. Coins that did circulate have been typically very worn, frequently examples of colonial Spanish coins in addition to many problems struck in Europe. Needless to say this was a circumstance far better to be avoided, and shortly after the Massachusetts Bay Business established their colony and what later would grow to be the city of Boston (in 1630) there have been calls for the issuance of their personal currency.

It was a bold move to concern neighborhood currency and it would be a single of the earliest actions that would at some point lead to independence in 1776. Government in England did not approve such independence from the colonists, and the Mint in New England would often be shrouded in mystery. A lot more on that in a small bit.

The legislation in New England known as the General Court passed the Mint Act in May possibly of 1652 and began striking coins shortly thereafter. Silver was sourced from the devalued Spanish Colonial and European coins in circulation. The initial coins have been extremely straightforward, getting blank planchets of a variety of sizes with “NE” stamped on one side and the denomination in Roman numerals per penny (with a shilling becoming 12d) on the other side. These coins were very easily clipped (a method of which portion of the silver is filed off for individual achieve) and had been soon replaced by the Willow Tree coinage. This was followed by the Oak Tree Coinage and at some point by the Pine Tree Coinage, all bearing practically identical styles except for the tree on the center of the obverse.

A single of the attributes that did not change at all was the date. Although the earliest (now recognized just as New England Silver) did not feature any date, all subsequent Massachusetts silver was dated 1652. The causes for this are not specifically recognized. Specialists have argued that it could be in commemoration of the Mint Act of that year, but it is also possible that the date had a lot more political motives. At the time, for a short period, England was a Republic, as King Charles I was beheaded in 1649 and England would be without a king till 1660 when Charles II. Without a king, the colonists might have argued, England had no jurisdiction over the colonists and the New England coinage was issued legally.

All Massachusetts silver coinage was considerably in demand all through the American Colonies, and quickly Boston was depleted of their silver coinage, a scenario equivalent to the complete purpose why there was a colonial coinage in the 1st spot. The coins remained common for several years to come and are now treasured collectibles with numismatists, and even the common public usually has a little bit of understanding about these historical pieces.

The NGC MS-65+ specimen has a pedigree that goes back over a century, adding to the significance of the piece sold by Stack’s-Bowers at the ANA auction. It was previously in the collection of F.C.C Boyd and the John J. Ford Jr. collection, in whose sale it was incorporated in Component XII, sold in October 2005. Noted specialist and author of the standard reference on Massachusetts silver coinage Sydney P. Noe chose this exact coin in his reference when it was published in 1952 to represent the Noe-1 assortment. Without having a doubt the sale represented a major coin in American colonial numismatics and an supplying that is not repeated very easily.

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