1652 Shilling Pine Tree, Large Planchet, Pellets MS(PCGS#45369)

Spring 2019 Baltimore U.S. Coins Auction

拍卖行

Stack's Bowers

批号

288

等级

AU58

价格

104,568

详细说明

Classic Noe-1 Pine Tree Shilling 1652 Pine Tree Shilling. Large Planchet. Noe-1, Salmon 1-A, W-690. Rarity-2. Pellets at Trunk. AU-58 (PCGS). 63.58 grains. This is a simply outstanding example of one of the most famous and eagerly sough varieties in the entire Massachusetts silver series. Fully original and bathed in handsome mauve-gray patina, the surfaces are also expertly preserved with not even a single detracting mark or flaw. Direct lighting calls forth considerable satin luster, overall sharp detail to the devices further contributing to this coin's claims to Mint State status. The obverse is drawn ever so slightly to 6 o'clock, the lower border flush to the top of the letters MA in MASATHVSETS and N in IN. The reverse is better centered and, indeed, most Noe-1 shillings are centered in this manner. Jagged, albeit mostly straight planchet clip at 12 o'clock, shallower straight clip just before 6 o'clock relative to the obverse. Interestingly, many Noe-1 Pine Tree shillings have been clipped in a decorative fashion, as is the case with some of the 1642 to 1643 Irish "Inchiquin" and "Ormonde Money" pieces associated with the Irish Rebellion that began in October of 1641. Middle to Late Die State, as defined by Christopher J. Salmon in the 2010 reference The Silver Coins of Massachusetts. Coinage was scarce in the Massachusetts Bay Colony in the middle part of the 17th century. What few coins were available were a mixed bag of heavily worn Spanish Colonial silver coins, British small denomination silver coins, the occasional Western European silver piece, and local wampum. Every day commercial business was hampered because of the non-standardized monetary system. Silver coins were not forthcoming from Great Britain, so the colony's legislative body, the General Court, took matters into their own hands and passed the Mint Act in May of 1652 establishing a mint to coin silver under the leadership of John Hull. Gradually over the next several years, the minting process was perfected at Hull's mint from the basic NE coinage to the much more elaborate Pine Tree series. The Pine Tree coins were first struck in 1667 (though retaining the date of the original Mint Act, 1652) and would continue in production until the mint's closure in 1682. Immensely popular, the coins circulated not only in New England, but have also been often found in archaeological contexts in the Mid-Atlantic region. The Large Planchet shillings are among the most popular of the Pine Tree coins in part due to the ample real estate afforded by the large thin planchet and the overall decent quality of striking. While not the first of the issues to be struck, the Noe-1 shilling is widely considered the "poster example" of the entire series, as Q. David Bowers notes in his Encyclopedia of Colonial and Early American Coins. Planchet manufacture at this stage was still best described as rustic: hand cutting from sheets of silver using heavy shears. The inconsistency in planchet shape and size plus the occasional flaw made the issue prone to clipping, so in 1675 the Large Planchet gave way to a smaller and thicker module that would be used until 1682. The most evident diagnostic marks for the Noe-1 are the two pellets flanking the base of the tree trunk, visible on most specimens. Because of their extended time in circulation, the Noe-1 shilling is often found in very low grade with planchet defects, weak strikes, and even evidence of burial. Even so, a handful of truly magnificent AU and Mint State examples are known, the present coin included. A highlight of this sale, and sure to have no difficulty finding its way into an advanced cabinet of early American coinage. Provenance: From the Greenway Collection. Stack's paper envelope with attribution notation included. PCGS# 45369. NGC ID: 2ARU. Click here for certification details from PCGS.