1712-AA 15 Den XXX Error, Vlack-13b MS(PCGS#905860)

Winter 2022 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

1043

等级

AU58

价格

135,597

详细说明

Extraordinary 1712-AA “XXX DENIERS” Demi-Mousquetaire The Ford Specimen Finest of Three Known 1712-AA French Colonies 15 Deniers, or Demi-Mousquetaire. Metz Mint. Vlack-13b. XXX Error. Rarity-7 (actually Rarity-8). AU-58 (PCGS). French Colonies in America. 1712-AA 15 Deniers or Demi-Mousquetaire. Metz Mint. Vlack-13b. XXX error. Rarity-7 (actually Rarity-8). AU-58 (PCGS). 18.6 grains. The pride and joy of Syd’s collection of this material, this piece brought a staggering $23,500 as lot 31 in the 2006 Ford XIII sale. Perhaps the most notable die engraving error in the whole realm of early American numismatics, this piece is entirely misdenominated, with the reverse die engraved XXX DENIERS instead of the proper XV DENIERS. Just three of these are thought to be known, of which Ford’s (though probably discovered first) was the second one auctioned. The final example discovered was first offered in 2020. In something of a departure of our usual cataloging practice, we reprint below the first known auction description of this variety, from Paul Bosco’s landmark 18th sale of August 1997. No cataloger before Paul, nor any after him, will match his style or panache. (Note: the Bosco description is of the other known specimen but is included here because of its correctness and historical value.) “1712-AA. 1/2-Mousketaire of XXX Deniers. Type missing from the Redbooks. Excessively rare. “Designs exactly as the full Mousketaire, but size and planchet of the XV-Denier Half Mousketaire. Presumably the die-cutter, who would have engraved more XXX-Denier dies than dies for the scarcer XV-Denier type, suffered a lapse of attention. As 1712 is not the first date for the XV-Denier, and as the coin is well-used, a die-cutter’s error seems a far more likely explanation than pattern/trial status, and it stretches credibility to suggest an attempt at revaluing these billon coins, which circulated heavily in both the colonies and metropolitan France. “Nonetheless, the eyes do not lie, and here we have a coin smaller than, and half the eight of, the known coins bearing the denomination — a new type. That it probably owes its existence to the drowsiness (or tipsiness) of a mint worker reduces its importance and likely its value, but it still belongs in a U.S. Colonials collection. “Although not listed in the first Gadoury-Droulers catalog of 1610-1789 French coins (by date & mintmark), Droulers’ subsequent independent catalog included it, probably based on an appearance in a French dealer’s fixed price list (from the ‘30s?) It was unknown to Robert Vlack, who has studied this area more than probably anyone, until he saw this coin, and Breen did not know it. “I forgot to photograph this lot, but I’ve shown it to people for the entire 15 years it’s taken me to get around to auctioning it, so everyone has seen it, or will by the end of ANA. If you collect colonials and aren’t coming to ANA in New York, please be advised that New York is where most colonials were made, imported, or circulated, and today we have the best zoo in the hemisphere. “Prospective bidders should bear in mind that whatever number this important coin brings, it will be a bargain; if I had any brains I’d’ve given this coin to Bowers, where it’d realize twice as much.” Syd viewed that specimen in 1997 but did not buy it. He mentioned it in his inventory when he acquired the lot below (the XV over XXX error) as an explanatory note of how that related variety, which Syd discovered, could exist. “Note: There is a piece that is definitely a 15 deniers (in size), but marked "XXX DENIERS"; though probably an error, it can be considered another variety. It is thought to be unique; it sold at auction for $4100 (Paul J. Bosco, Auction #18, 4 August 1997. Lot 702). It has a date of 1712-AA, and grades VG-F. SFM saw this coin at the 1997 ANA, and inspected it -- it appears absolutely correct.” Years after the 1997 Bosco sale, and after his 1998 discovery of the XV over XXX variety, Syd watched this coin sell to Tony Terranova in the Ford XIII sale. By then, it had been included in the Vlack reference, listed as Rarity-7 even though there appear to be just two. When Syd acquired Tony’s French Colonies collection in 2008, he finally acquired this coin. It’s the finest example by nearly 20 points, widely surpassing the NGC EF-40 in the Heritage August 2020 world sale, with good luster in protected areas and displaying a blend of lively light silver gray and more mellowed deep gray. The planchet is lightly striated and granular, but it’s quite attractive. A bit of spotting is noted on the reverse. Both sides are well centered and boldly detailed, and the error denomination is crisp and complete. This example’s return to auction represents an important opportunity for collectors of important early American rarities, as this coin’s desirability exceeds the narrow confines of the French Colonial specialty. Additional information pertaining to this lot: The 1709 - 1713 Mousquetaires and Demi Mousquetaires of Lyon and Metz From Mobile Bay to Montreal, the billon 30 deniers or mousquetaire was a staple of small change across Nouvelle France. Along with its 15 deniers half fraction, the type - nicknamed for similarity of its cross to that found on King Louis' Royal Musketeers - was adopted into American collecting somewhat later than other related issues. In his 1892 Histoire Monétaire des Colonies Françaises d'après les Documents Officiels, Ernest Zay noted that Canada was "abundantly provided with 30 deniers coins of 1710, those with the two addorsed Ls, called mousquetaires." As accurate as his statement seems to have been, based upon archaeological discoveries throughout Canada, the Gulf Coast, and the Mississippi Valley, Zay provides little documentation for his statement, and he is among the authors who seems to conflate the "old sols," which were almost certainly the hammered issues counterstamped in 1640 and recoined beginning in 1692, with other later billon issues. American collectors were slow to collect the mousquetaires alongside their brethren. Albert Frey mentioned them as Canadian in his 1916 "Dictionary of Numismatic Names," published in the American Journal of Numismatics, citing Zay as his source. Zay was also the inspiration for a correspondent to B. Max Mehl's Mehl's Numismatic Monthlyin January 1917 who noted Zay "gives a place in the Canadian series to a coin I have for a long time suspected of being entitled to such a place. It is a thirty deniers of 1710." The correspondent noted he had seen only one of these coins, decades earlier. The mousquetaires were not listed in Wayte Raymond's Standard Catalogue of United States Coins, despite Walter Breen's affection for the type and his important role in the book's 18th (and best) edition. Perhaps inspired by R.C. Willey's excellent series of articles in the Canadian Numismatic Journal entitled "The Numismatics of the French Regime Re-Examined," Breen was incorporating the mousquetaires into New Netherlands Coin Company advertising by 1970, when a company ad in The Numismatistlisted a low grade mousquetaire ("VG or better) and a similar demi-mousquetaire ("VG .. miserably struck on a granular, rough planchet") as "very rare" and "rarer." The types became a staple of the Guide Book of United States Coinsand thus an important part of a Red Book type set shortly thereafter. They have been broadly collected in the United States and Canada ever since. The series is short and simple: two denominations, two mints, five dates for the 30 deniers and three for the 15 deniers. While the demi-mousquetaire is clearly the more elusive denomination, and the concept of rarity is a construct that only has meaning in the context of demand, it's tough to call these coins rare. That stated, most are wretched. The Syd Martin Collection includes some of the best examples of this series extant: superb condition, exciting and rare varieties, and pattern piedfort strikes. Few collectors endeavor to complete a date and mint set of these issues (even Ted Craige didn't), and fewer still pursue the series as fervently as Syd. For the collector who seeks to build a collection of these fascinating issues, Vlack's An Illustrated Catalogue of the French Billon Coins in the Americasoffers the roadmap. Current valuations for typical specimens offer a low barrier of entry to an advanced collection. The opportunity to acquire coins of the quality of those offered is, however, very scarce indeed. Provenance: From the Sydney F. Martin Collection. Earlier ex John J. Ford, Jr. Collection; our (Stack’s) sale of the John J. Ford Jr. Collection, Part XIII, January 2006, lot 31; ex Anthony Terranova Collection; John Agre and Dave Wnuck (Coin Rarities Online), via Mike Wierzba, January 2008. PCGS# 905860. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA.