1783-95 Regulated John Burger $4 2/3, 1773, KM # 600, English Guinea PCGS XF45. This gold guinea probably circulated in the English colonies, perhaps shortly after the time of its issue in 1773. After the American Revolution it was regulated by John Burger. The host coin is a guinea of King George III. It is clipped and plugged JB in a script monogram in a round cartouche across the bridge of the Kings nose and covering his eye, which is where Burger usually placed his plug. The hallmark is strongly impressed and covers much of the plug, which is flat on the reverse. The plug and large clip regulate the coins value to $4 2/3. The weight is correct for the 1784 New York 5 dwt, 6 grains standard used at the time by the Bank of New York. A brownish-gold colored encrustation is present on both sides of the coin, which is predominantly yellow gold. Otherwise the surfaces are clean and free of marks worthy of individual description.

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, Ephraim Brasher, John Burger, John David Jr., Lewis Feuter, Myer Myers, Thomas Pons, Thomas Underhill, and William Hollingshead.

The coin shows the third laureate profile bust of King George facing right. The inscription GEORGIUS III DEI GRATIA, which means George III, by the grace of God, is separated by dots and surrounds the portrait. The reverse shows the crowned quartered shield of arms. The reverse legend is F D B ET L D S R I A T ET E M B F ET H REX, which means King of Great Britain, France and Ireland, Defender of the Faith, Duke of Brunswick and Luneburg, Arch-Treasurer and Elector.

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 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 1783-95 Regulated John Burger English Guinea is rare if not unique. In a national auction on August 12, 2010 the coin was uncertified and listed as a Choice VF. Subsequently it was submitted to NGC where it was graded XF45.