1720 AR Medal Betts-114, John Law MS(PCGS#921995)

August 2023 Global Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

2001

等级

AU55

价格

174,762

详细说明

Original Choice AU Betts-114 Medal An Exquisite Example of this Iconic John Law Type 1720 Louisiana is Both a Bank and a Mint Medal. Betts-114, Adams-7. Silver. AU-55 (PCGS). 44.3 mm. "B 114" (the Betts number) and "6362" carefully penned in India ink and lacquered just inside the reverse rim between 3 o'clock and 5 o'clock. An absolutely exquisite example of this iconic John Law type. Adams places this as the earliest of the John Law satirical medals, as the design "raises issues about the Mississippi system but does not resolve them [and] suggests that the time of striking was early in 1720, well before the debacle that was to occur in July of that year." The obverse shows a standing figure of Law holding a scroll or broadside reading LOUISIANA EST EST BANCO ET MONETA while at the opening of a cave, where a figure representing Envy hides inside. A winged Fame trumpets two messages above: "praise among the stars" and "praise on earth," but the engraver (Christian Wermuth) has imbedded a pun within: the word for praise is "LAVS" or "Laws," just like John Law. The long inscription on the reverse is translated by Adams and Betts; it is a conversation between Envy and Praise ("Laws") that speaks of the "sale of worthless hope" and selling "mountains of gold but you possess only brass." Known in silver and white metal, the silver is probably a bit more common but also more desirable. This one has classic old cabinet toning in subtle shades of blue, gold, and violet. The reverse is lustrous and reflective, the obverse a bit less so but lively and attractive despite some minor contact marks. The obverse is trivially double struck, and the obverse die shows a short peripheral die crack near 2 o'clock. The Ford example showed the same crack. We have not sold an example of this variety since the 2006 Ford sale (where a silver specimen brought $8050). Heritage has never sold an example. This one came from a collection formed in Georgia before 1962 that remained essentially intact until 2013. That collector acquired this piece, among others, from Fred Baldwin in London about 1960. Each of those medals (and there were some superstars among them) was accompanied by a pencil rubbing and each of them also bore an inventory style number (like the one seen here) on either the field or the edge. Some also had attribution numbers, like this one. This example has not been sold at auction in at least 65 years, if ever. While Adams rates this variety Rarity-6, if offerings are a more useful metric than population, none have sold at auction in 18 years in any grade or composition. Provenance: From the Skyler Liechty Collection. Earlier from Fred Baldwin (London) to an American collector, ca. 1960; John Kraljevich, December 2013. collector envelope with attribution and provenance notes included. 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.