1652 Ghost Oak Tree Shilling PCGS AU58 CAC. 1652 Ghost Oak Tree Shilling, Noe-10, R6+. This lustrous, near-Uncirculated 1652 shilling from the Massachusetts Bay Colony is the Ghost Oak Tree variety and is the finest known at PCGS and CAC. The silver coin is evenly patinated with highlights of iridescence around portions of the periphery on both sides. Shades of gunmetal gray, tan, silver, and gold are mixed, and it is these colors that affirm the coins originality. The surfaces are remarkably clean with no visible abrasion marks, porosity or other distractions. The planchet is round except for a small straight clip at 3:00 done at the Mint to bring the weight down to the correct weight. The devices are well centered, and the coin is well struck, aside from the tree, with almost full inner beads on both sides. The outer bead circle is incomplete on the lower obverse, as is often the case even on Uncirculated examples. The tree has thin, weak branches, as made. The CAC sticker attests to the premium quality of the coin and indicates that it fully merits the assigned grade.

On most examples of the Noe-10 Oak Tree Shilling, the tree is barely visible. On some specimens no tree is visible at all. Breen called it the Delicate Tree. In January 2002, Michael Hodder renamed the variety the Ghost Tree shilling, and that name seems to predominate. The weakness on the tree is diagnostic for the variety.

The obverse of the coin shows a rather crude stick-figure drawing of a tree surrounded by a circle of beads. The inscription MASATHVSETS IN is around the coin with IN separated by dots. At the periphery is another circle of beads. The reverse of the coin shows the date 1652, with the denomination written as XII under it within a circle of beads separated by a center dot. The inscription NEW ENGLAND AN DOM is around the coin with AN and DOM also separated by dots. At the periphery is another circle of beads.

Oak Tree Coins were issued from 1660 to 1667. Except for the two pence, all Oak Tree coins have the date of 1652 to create the impression that they were struck after the English Civil War when Cromwell was in power. Thus the colonists were not being disloyal to the King; they created the fiction that they were merely using left over coins from Commonwealth days. The two pence coins were dated 1662. In that year the King, who had been restored to the throne, was shown an Oak Tree shilling dated 1652. Rather than ordering reprisals for minting coins that was a prerogative of the crown, he took it in good humor calling the colonists a parcel of honest doggs.

The coins were made to the same weight and measurement standards of the Willow Tree and NE coinage that preceded them, but they were made better. Several theories exist as to how the coins were made. In one a rocker arm press was used with curved dies. The curved face allowed the die to rock back and forth. The image of the coin was engraved on the curved face of the rocker, one for each side of the coin. They would then be mounted face to face in the press and would press against each other using a rolling motion. Another theory suggests a roller press was used. One researcher feels that some Oak Tree coins were made on a standard screw press using octagonal prism shaped dies which were wedged in place to keep them from turning during the minting process. In any case, multiple striking that was characteristic of the earlier Willow Tree coins was avoided. Because die steel was not abundant, the dies in use had to be reground many times to remove cracks, clash marks, rust, and other imperfections. Many of the letters, numbers, and branches of the tree had to be re-engraved, some several times.

There is no documentation for placing the Oak Tree series second in order, but it does make logical sense to do so. First the design of the Oaks and Willows are similar, but the Willows are the cruder representation between the two. Second, both the Oaks and the Willows are inferior in execution to the Pine Tree coins. Third, the Oaks and Willows are similar in size to the NE series which preceded them. The larger planchets are those of the Pine Tree series. Finally the Oak Tree series is scarce and has a small number of varieties. Had it been last, it would have had a much more extensive mintage since coinage continued for another twenty years.

Shillings were struck in much greater quantity than the lower denominations. The Oak Tree sixpence coins were most likely made on an as needed basis. Most depositors would probably have preferred to receive shillings. Of course, a shilling could have been cut in half to make a sixpence, which was a common practice. Since the larger denomination coins were divided in this way, there was not a great need for lower denominations. Consequently, fewer sixpence, threepence, and twopence coins were made.

In 1662 the Generall Court, the Colonial authorizing body, ordered coinage of twopence pieces. These were to be dated 1662. They were to be made for no more than seven years. While there are no official mintage records, researchers feel that 5,000 to 10,000 coins could have been made.

In 1692 the Salem witch panic took place. Many coins are bent, which was a protection from witches. Some have teeth marks as a result of someone attempting to bend them. These coins were used to ward off witches spells.

Three different obverse dies and three reverse dies in six combinations were used for the Oak Tree coins. Sydney P. Noe in his book The Oak Tree Coinage of Massachusetts lists eight varieties, three of which are counterfeits and two of which are recuts. Noe started his numbering with the shillings and continued it through the series. The present coin is one of the IN on Obverse at Bottom variety, Noe-10. It is identified by the thin, shallow engraving of the tree.

Authentication of Oak Tree coinage his highly recommended. (All USRCI coins are certified by one of the major grading services.) In the 1660s and 1670s Oak Tree coins were counterfeited and used in place of regular coinage. In 1848-1875 they were counterfeited and made to sell to collectors.

The Noe-10 Ghost Oak Tree shilling has an R6+ rarity rating. Most researchers feel that there are perhaps 15 pieces in existence, most of which are in lower circulated condition with various problems that collectors tend to overlook because of the coins desirability. According to its population report, the present coin at AU58 is the finest known at PCGS, and as of December 2012, it is the only specimen of this variety confirmed at CAC. In addition its other attributes, the coin has a special provenance. It was part of the Henry Chapman collection of 1914 and the 2005 John J. Ford sale, which spanned a series of 21 auctions over three years.