1837 Token HT-32 Illustrious Predecessor, BN MS (PCGS#77374)
August 2019 ANA U.S. Coins Auction Rosemont, IL
- 拍卖行
- Stack's Bowers
- 批号
- 251
- 等级
- MS63BN
- 价格
- 2,541
- 详细说明
- 1837 Illustrious Predecessor. HT-32, Low-18, DeWitt-CE 1838-2, W-11-520a. Rarity-1. Copper. Plain Edge. 28.5 mm. MS-63 BN (PCGS).
Coin alignment. Struck from Bowers' Tortoise with Safe Die 1 / Jackass Die 2. Dominant deep copper and gray-brown patina, although both sides retain plenty of original rose-orange color that is most vivid at the upper and lower obverse borders, upper left reverse border. Well struck with overall sharp detail, the reverse is from a rusty die with numerous tiny pits scattered throughout the center and, especially, through the words OF MY / PREDECESSOR below the jackass. This otherwise available HT number seems underappreciated in Mint State. None of the Ford pieces were better than AU, the two finer of which had been cleaned. Martin Van Buren won the election of November 1836 and on March 4, 1837, was inaugurated as president of the United States. He declared, "I follow in the steps of my illustrious predecessor," launching a series of Hard Times tokens satirizing him. The jackass represented Jackson on this and other varieties. In a message to Congress on September 5, 1837, President Martin Van Buren proposed establishing Sub-Treasury offices in cities to receive and hold federal funds then in pet banks. By that time paper money in circulation included many bills that were completely worthless, some issued by fictitious banks. While Sub-Treasuries would not replace the defunct Bank of the United States, it was thought that they would help restore public confidence.
The Sub-Treasury Bill was introduced in the Senate in October, made its way through two different sessions of Congress, and became law in June 1839 as the Independent Treasury Act. Sub-Treasury branches were proposed for New York City, Boston, Philadelphia, St. Louis, Charleston, and Washington. Certain provisions of the bill were repealed in 1841. The slow movement of funds from pet banks to Sub-Treasury offices was lampooned by a diamondback terrapin carrying a safe.
The currently offered token is a richly original piece with intense satin luster and virtually blemish-free surfaces, and is clearly among the finest known. It has the added appeal of an impressive provenance that includes the Griner, Dice-Hicks, and Bowers collections. Sure to sell for a premium bid.
Provenance: From our (Bowers and Merena's) sale of the Jerome Griner Collection, March 1989 Four Landmark Collections Sale, lot 3025; our (Stack's) sale of the Collections of James E. Dice & M. Lamar Hicks, July 2008, lot 3027. The plate token for the variety in the 2015 Whitman Guide Book of Hard Times Tokensby Q. David Bowers. Collector tag with (partially incorrect) attribution and provenance notes included.
Click here for certification details from PCGS.
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