1783-95 John Burger Regulated $4-2/3 5 DWT 6G. G. BRITAIN 1734 GUINEA,( KM # 573.3), NGC VF20. This gold guinea of 1734 probably circulated in the American Colonies and then was regulated after the American Revolution by John Burger. The host coin is a guinea of George II King of England. It more than meets the grading requirements for the VF20 assigned by NGC. It is slightly clipped and plugged JB, in a script monogram, for John Burger across the bridge of the Kings nose, which is the usual place that Burger put his plug. The hallmark is strongly impressed and covers the entire plug. The plug and small clip regulate the coins value to $4-2/3. The weight is correct for the 1784 New York 5 dwt standard used at the time by the Bank of New York.

Coins from Brazil, Portugal, Spain, France, and England all circulated concurrently in early America. However, each had a different weight and fineness making trade extremely inconvenient. The problem was first dealt with in colonial times, when coins were regulated. This practice continued after Independence. A goldsmith or silversmith would drill a coin and add gold in the form of a plug to increase its weight. If it was then overweight, he would clip and/or file its edge. Thus, coins were regulated to certain standards. The plugs that were added were then stamped with a hallmark indentifying the regulator who guaranteed the gold content of the piece. Regulators, who were also jewelers and highly thought of members of the community, included John Bayley, John Burger, John David Jr., Lewis Feuter, Myer Myers, Thomas Pons, Thomas Underhill, and William Hollingshead. However, none was so prominent and famous in numismatic circles as Ephraim Brasher.

The host coins obverse shows a left facing portrait of King George II of England. He reigned from 1727 to 1760. Inscribed around the portrait are his name and title with the date below. George was the last British monarch to have been born outside of Great Britain. He was famous for numerous conflicts with his father and later with his son. He was also the last British king to lead an army in battle. The reverse shows the crowned coat of arms.

Usually numismatists are concerned about a coins pristine quality. In fact, today a perfect coin is given a grade of Mint State 70. Coins that are holed, clipped, filed, plugged, and counter stamped have considerably diminished value to most collectors. Most coins in these categories are considered undesirable and would not be certified by any of the major grading services except in the details category. However, in the realm of regulated gold coins, all of the previous notions of quality and appeal must be abandoned in favor of a different set of assumptions. Even counterfeit coins have been regulated and are highly collectible today. Obviously a regulated coin cannot be in Mint State condition. The host coin must be described in detail and, if possible, graded separately from the plug or plugs.

Regulated coins have been found in collections of famous collectors and numismatists. These include Virgil M. Brand, Louis Eliasberg, John J. Ford Jr., John Work Garrett, Waldo Newcomer, and John L. Roper. Edward Roehrs had an excellent collection of regulated coins that was auctioned in 2010 at the ANA Boston Worlds Fair of Money.

It seems unusual to modern sensibility that colonists and citizens of the early republic would have silver tankards, beakers, and porringers; however, it should be noted that these items represented a persons surplus wealth. Since there were no banks where a colonist could keep hard money, they took all their surplus coins to a silversmith and had them melted and made into useful objects. Since paper money often depreciated, savings were safer if invested in silver plate where they could also be useful in the home. In case of a theft, silver could easily be identified by the hallmark and engraving and recovered. If cash were needed, the silver could be taken to a silversmith and be reconverted into money. The silversmith had to be a man of highest integrity because he was expected to turn a certain quantity of silver plate into coin or the opposite.

John Burger was a New York silversmith who also regulated coins for the new government. In 1786 his address was listed as 207 Queen Street in New York City.

Although the grading services do not list regulated coins in their population reports, one can assume that this coin is rare if not unique. In a national auction on August 12, 2010 the coin was uncertified and listed as a Fine. Subsequently it was submitted to NGC where it was conservatively graded VF20.