A fundamentally rare coin is one that had
a very limited mintage. All regularly issued business strike
and proof coins with mintages under 10,000 pieces are fundamentally
rare in any condition obtainable. This category includes
all early gold and silver coinage as well as some copper
and nickel pieces. For example all of the quarter eagles
of 1796 to 1807 are in this category. The largest mintage
was in 1807 with 6,812 pieces. Both PCGS and NGC have certified
254 pieces in all grades, and these numbers do not account
for crossovers or resubmissions. Obviously no more than
254 collectors could have one of these certified coins,
making them always in demand. Yet mintages of other years
are significantly lower. The next highest, 1804, is less
than half at 3,327. Both services have 147 combined including
both 13-Star and 14-Star reverses. All early date quarter
eagles are fundamentally rare and would make an excellent
choice for a box of twenty.
A conditionally rare coin is one that has
a large mintage but saw much circulation and is common in
circulated grades but rare in uncirculated or almost uncirculated
condition. An example is the 1861 half eagle. It had a mintage
of 688,084, making it a fairly common date. In circulated
grades it retails for less than $600. Yet in Mint State
65 it lists for $37,050 and in MS66 a whopping $71,500.
Clearly upper mint state grades of this coin are desirable
because they are conditionally rare. NGC has certified 1456
in total but only 8 in MS65 and 2 in MS66. PCGS has 715
in total with 7 in MS65 and 1 in MS66. While these examples
are sufficient to make the point, there are numerous other
examples one could choose.
Some coins appreciate slowly in value and
others jump up quickly. For example, the 1860-O silver dollar
increased from $5,560 to $6,940 since July 2005; however,
if we look at the 1860-O in MS65, we see an increase from
$16,880 to $35,930 in that same period of time.
The foregoing are isolated examples of the
kinds of changes in value that quality selected coins can
undergo over time, and these examples are taken only over
the past five years. A box of twenty well chosen pieces
held over time will yield some spectacular results, and
the time to begin with your twenty might never be better
than it is now.
CAC
COLONIAL COINS
1724
Hibernia Farthing PCGS AU55 CAC. CAC Population: 1/3 as of
7/07/2015.
Wood's Hibernia Coinage.
The type intended for Ireland
Had a seated figure with a harp on the reverse side and the
word HIBERNIA. Denominations struck were farthing and hlafpennny,
with dates 1722, 1723, 1724. Hibernia coins were unpopular
in Ireland, so some of them were sent to the American colonials.
Numerous varieties exist.
1724
Hibernia 1/2P PCGS AU55 CAC. Wow! this is the only specimen
approved by CAC in AU-55 with only 2 higher.
Wood's Hibernia Coinage.
The type intended for Ireland
Had a seated figure with a harp on the reverse side and the
word HIBERNIA. Denominations struck were farthing and hlafpennny,
with dates 1722, 1723, 1724. Hibernia coins were unpopular
in Ireland, so some of them were sent to the American colonials.
Numerous varieties exist.
1760
Voce Populi Halfpenny. Nelson-4. Rarity-3. PCGS AU53 CAC.
CAC Population: 6/10 as of 7/07/2015.
Hibernia – Voce Populi
Coins
These coins, struck in the year
1760, were prepared by Roche, of King Street, Dublin, who
was at that time engaged in the manufacture of buttons for
the army. Lkike other Irish tokens, some could have found
their way to colonial America and possibly circulated in the
colonies with numerous other counterfeit halfpence and “bungtown
tokens.”
There are two distinct issues.
Coins from the first, with a “short bust” on the
obverse, range in weight from 87 to 120 grains. Those from
the second, with a “long bust” varieties have
the letter P on the obverse. None of the “short bust”
varieties bear the letter P, and judging from their weight,
may have been contemporary counterfeits.
1762-BB
Sou Marque, French Colonies, KM # 500.1, PCGS MS62, CAC. In
its population report, PCGS shows 5 1762-BB sou marque coins
in MS62 condition with 3 better. CAC Population: 4/2 as of
7/07/2015.
The sou marque and the half sou
were coined at almost every French mint, these of Paris being
most common. The half sou of 1740 is the only commonly available
date. Speciments of the sou marque dated after 1760 were not
used in North America.
1766
William Pitt 1/2 Penny PCGS VF35 CAC. CAC Population: 2/13
as of 7/07/2015.
William Pitt, the British politician
who endeared himself to America, is the subject of these pieces,
probably intended as commemorative medalets. The so-called
halfpenny served as currency during a shortage of regular
coinage. The reverse legend (THANKS TO THE FRIENDS OF LIBERTY
AND TRADE) refers to Pitt’s efforts to have the Stamp
Act repealed. The Pitt farthing-size tokens, struck in brass
or copper, are rare.
1783
Unity 1C Washington & Independence NGC XF45BN CAC. CAC Population:
2/9 as of 7/7/15.
WASHINGTON PIECES
Medals, tokens, and coinage proposals in this interesting
series dated from 1783 to 1795 bear the portrait of George
Washington. The likenesses in most instances were faithfully
reproduced and were faithfully reproduced and were designed
to honor the first president.
Many of these pieces were of English origin and were made
later than their dates indicate.
The legends generally signify
a strong unity among the states and the marked display of
patriotism that pervaded the new nation during that period.
We find among these tokens an employment of what were soon
to become the nation’s official coin devices, namely,
the American eagle, the United States shield, and stars. The
denomination ONE CENT is used in several instances, while
on some of the English pieces HALFPENNY will be found. Several
of these pieces were private patterns for proposed coinage
contracts
1787
Connecticut Copper Laughing Head PCGS XF45CAC. M. 6.1-M, W-2820,
R.1.
Authority for establishing a
mint near New Haven was granted by the state to granted by
the state to Samuel Bishop, Joseph Hopkins, James Hillhouse,
and Johyn Goodrich in 1785.
Available records indicate that
most of the Connecticut coppers were coined under a subcontract,
by Samuel Broome and Jeremiah Platt, former New York merchants.
Abel Buell w as probably the principal diesinker.
1787
Massachusetts 1/2C PCGS VF25 CAC. CAC Population: 2/36 as
of 7/07/2015.
The coinage of Massachusetts
copper cents and half cents in 1787 and 1788 was under the
direction of Joshua Witherle. These were the first coins bearing
the denomination cent as established by Congress. Many varieties
exist, the most valuable being that with arrows in the eagle’s
right talon.
Most of the dies for these coppers
were made by Joseph Callender. Jacob Perkins of Newburyport
also engraved some of the 1788 dies.
The mint was abandoned early
in 1789, in compliance with the newly ratified Constitution,
and because it’s production was unprofitable.
