Would you like a slice of pie with your token?

coinsarefun · July 23, 2008 11:12AM

Very cool token......At Stacks

Stefanie

NHSBaseball · July 23, 2008 11:41AM

Stefanie,
That is absolutely the coolest- if I had the money I'd be all over that one.

NHSBaseball · July 23, 2008 12:12PM

Here's the pic.

coinsarefun · July 23, 2008 12:29PM

<< <i>Stefanie,
That is absolutely the coolest- if I had the money I'd be all over that one.

>>

This is the absolute sweetest I have seen in a looooooong time

I may have to give it a shot!!

Stefanie

Quarternut · July 23, 2008 12:44PM

They actually have three different examples in the sale. I sure wish I had the extra funds to pursue one myself but I am tapped!

These were made as emergency quarters by the Planters Bank in New Orleans after the war of 1812 ended in early 1815, before the Mint could make and send the ones requested by the bank.

They are an ubber

piece of numismatic American history!

QN

Gemini · July 23, 2008 1:26PM

I have seen this same P.B. stamp years ago referred to as a "Pinch Bien" counterstamp. I have no reall as to what this translates to in English. The closest translation I can get at the French to English site is good piece? Planters Bank is okay with me but I'm a little confused right now. Can anyone add input on Pinch Bien?

Quarternut · July 23, 2008 1:40PM

Gemini,

The P.B. countermarks were previously attributed to "Puech Bein" & Co. by Lyman Low, but have been more recently attributed to the Planters Bank and were recently discussed in Karl Moulton's book "Henry Voight and Others Involved With America's Early Coinage". (Pg. 198)

If we can get Firstmint to post to this thread i am sure he can add more information.

QN

firstmint · July 23, 2008 2:04PM

QN must be well read...

Yes, I outline some of the background information regarding Planter's Bank and the 1815 quarters.

Prior to that time PB had counterstamped cut 8 Reales pieces into sections to equal 2 bits. Remarkably, Planter's Bank actually created and used two different obverse dies.

These pieces were circulated until 1817 after the new 1815 quarters had arrived in early 1816.

I have two of these illustrated in my Henry Voigt book, p.199.

They are very interesting (and neat) little pieces of necessity coinage, with the first examples appearing at auction in 1876.

Gemini · July 23, 2008 2:41PM

Okay I know I saw these tokens listed before and I finally found some information on them in the Garrett Collection auction 1981 catalog number 4 page 116. The following history of them discribed by Bowers: Certainly among the most intriquing of all merchants tokens issued during the early 19th century were the cut and counterstamped advertising pieces of Peuch Bein of New Orleans. James Peuch and John D. Bein, bankers, of New Orleans circa 1812-1835 were engaged by merchants and others to furnish cut sections of silver coin to be used as a medium of exchange in the rapidly expanding territory covered by the Louisiana Purchase. The"commission" for this service were odd clippings and shavings remaining after the finished products were completed.

The Peuch Bein token today is especially significant as it is the only recorded early American advertising token specifically struck on a cut segment of regular coinage, much in the manner that provisional pieces were issued by various countries and entities, particularly innSpanish America, on sectioned eight-reales pieces. He then goes on to add that these pieces have been added to Russell Raulau's recent revision and expansion of the Low Hard Times Token book available for $4.95

firstmint · July 23, 2008 2:44PM

Gemini -

Unfortunately, you are working with outdated and incorrect research in using the Garrett catalogues.

Quarternut · July 23, 2008 3:11PM

Gemini,

If you will look in the latest "Standard Catalog of United Stataes tokens 1700-1900" by Russell Rulau, you will see that they have been relisted as from the Planters Bank. Here is the exact quote from the token book:

P.B. NOUVELLE ORLEANS

Dr. Gregory Brunk and Robert D. Leonard have provided plentiful evidence, and deduction, that the cut quarter segments of Spanish-American 8-Reales counterstamped with P.B., American eagle and NOUVELLE ORLEANS have no connection with Puech Bein & Co. or with the Hard Times period. They were isssued 1811-1817 by Planters Bank of new orleans, a successful financial entity in business 1811-1826.
Lyman H. Low, Edgar Adams, Raymond Byrne and other esteemed authors have always considered these as Hard Times issues, but as early as 1914 Howland Wood argued that they were issued two decades earlier. In 1832 James Puech was a director of City Bank and he had been a hardware dealer since 1823. Puech Bein & Co., hardware merchants, were organized only in 1834 and were never in the banking business.
Since well over 100 years of collectors have considered these P.B. counterstamps as Hard Times issues, we have left them cataloged there, under HT numbers 124, 125, 126 & 126A under Louisiana. they are actually, of course, Early American token issues.

So... Planters Bank they are and Puech Bein & Co. they ain't!

QN

Gemini · July 23, 2008 3:12PM

<< <i>Gemini -

Unfortunately, you are working with outdated and incorrect research in using the Garrett catalogues. >>

Thanks for your input Firstcoin and Quarternut I now am now no longer confused just incorrect and outdated like my material...

GFourDriver · July 23, 2008 3:15PM

It'd make a great door-stop.

firstmint · July 23, 2008 3:15PM

One of the toughest aspects about being a numismatist is having an open mind, the ability to accept new research, and then keeping up with all the changes...

Gemini · July 23, 2008 3:31PM

Very well said Firstmint and the truth has set me free...

Would you like a slice of pie with your token?

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