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By Request: Myddelton Tokens - The Story Behind the Coins
MidLifeCrisis
Posts: 10,519 ✭✭✭✭✭
erickso1 asked me about Myddelton Tokens in another thread and via PM. I'm bumping this thread for him.
_______________________________________________________________________________________
In his work The Early Coins of America, Sylvester S. Crosby paid the Myddelton Token the ultimate compliment:
"In beauty of design and execution, the tokens are unsurpassed by any piece issued for American circulation."
The Myddelton Token is a historically relevant issue, proposed as a circulating coin by Philip Perry Price Myddelton to attract farmers and laborers to settle his large track of land on the Ohio River in Kentucky. Myddelton, an Englishman, planned to form a farming community there and promised steady employment.
The tokens were struck by Matthew Boulton with dies almost certainly engraved by Conrad Küchler. The copper specimens were the intended issue, but for some reason a number of silver pieces (thought to have been 53) were struck first by Boulton on March 8, 1796.
Research indicates that Myddelton originally contracted with Boulton's Soho Mint for copper coins, and in the surviving correspondence there is no reference to the silver pieces. Perhaps these silver pieces were struck for advertising purposes most likely for use by the Soho Mint and Boulton, since Myddelton was scheduled to sail to Kentucky within days of these silver coins being struck and would have had little time to present the silver coins to prospective colonists.
However, Myddelton was arrested for "enticing artificers to emigrate to the United States". Myddelton ended up in Newgate Prison, where his one year sentence lasted over 3 years, when he was finally able to pay the £500 fine and gain his release.
Of the 53 silver pieces struck, 50 were put into Myddelton's account, and shortly thereafter 46 were returned to Boulton's Soho Mint, where they were quietly distributed over the next few years. Boulton feared reprisals from the government and wanted to distance himself from the problems that had entangled Myddelton.
We don't know if Myddelton ever made it to Kentucky, but he did resurface in Britain as the plaintiff in another lawsuit in 1806.
The Myddelton tokens represent one of the pinnacles of die engraving of the period. The complex design elements are rich in minute details and speak volumes in their symbolism.
The obverse shows a youthful Liberty, her right arm outstretched while her left arm holds a pole which supports a loose cap (the Phrygian cap on the pole has been traced back to Roman times when emancipated slaves, who wore such caps, placed their caps on poles to assert their freedom). Behind Liberty is a cornucopia, which is spilling forth fruit symbolizing the abundance of the new colony in Kentucky, and a small Liberty tree or branch, ringed with a wreath of Laurel near her feet (for peace). The image of Hope is on the left, presenting two children (genii, or supernatural spirits which take human form to serve their summoner) that represent the freedom and opportunity of the new colony. The ships anchor perhaps speaks of the long voyage to the new land, and once arriving being anchored to the land, as the anchor rests on the land as opposed hanging from a ship or on deck.
Britannia dominates the reverse, leaning on her shield, her head lowered and weeping, her spear pointed down. The symbols of Liberty - scales of justice, the fasces and Liberty cap - lie in disarray at her feet, suggesting that Britain had become a land devoid of justice and liberty in recent times.
All these elements combine to entice people to move to the new settlement. Interestingly, Matthew Boulton wrote to P. P. P. Myddelton on January 7, 1796 to inquire about Myddelton's request that Britannia be presented in such a manner on his proposed token. "In regard to the device I do not think myself qualified to speak of it, as I do not clearly see what point you aim at, or what passes in your mind, or why you should prefer Britannia weeping over your plantation, as I hope both you & Britain will have cause to rejoice."
Myddelton didn't see it that way, and stuck to his original concept of a weeping Britannia.
Matthew Boulton
Matthew Boulton was typical of the new men of the Industrial Revolution. He combined the shrewdness of the entrepreneur with the foresight of the visionary. In later life he became a Fellow of the Royal Society, and was known as one of the more benevolent industrialists, well known for his philanthropy (he established a theatre in Birmingham in 1807). He died on 17th August 1809, eight months after the ship bearing his coins in the Admiral Gardner came to grief on the Goodwin Sands. He started as a jeweller and brassware manufacturer, making buttons and other small brass goods in his Birmingham premises, the Soho Manufactory, which was established in Smethwick in 1761.
Soho House, Boulton’s home from 1765 up to his death in 1809
James Watt
In 1768 Boulton met James Watt, and because of his need for something to power his factory, he became interested in Watt's invention, the steam engine. Boulton first gained a share in the patent on Watt's steam engine as part payment for a debt from a fellow industrialist who went bankrupt. In 1775 Boulton and Watt became partners in the steam engine business, obtaining a 25-year extension of the patent. One of the first applications of the new invention was to power the pumps to drain the Cornish tin mines.
Soho Works, Birmingham and the automatic coin press
In 1786 Boulton applied steam power to his coining presses in the Soho works. Up until that time, coins had been produced by hand processes, which basically meant that blanks were placed into a press by workers who then had to screw down the machinery by hand to produce coinage. This was a laborious and time consuming process, made worse by the fact that the blanks were roughly cut out in the first place and often had to be hammered flat first to fit in the machine.
Boulton's coining press
The Soho Mint (Soho Manufactory)
The Principal Building of the Soho Manufactory photographed shortly before the demolition crews moved on-site in 1863
Sources:
Richard Margolis, The Colonial Newsletter, December 1999
www.CoinFacts.com
Ira & Larry Goldberg Coins & Collectibles, www.goldbergcoins.com
Matthew Boulton and James Watt, http://www.eicships.info/ships/s815/boulton.htm
Boulton And Watt: First Duo On The £50 Note,
( http://news.sky.com/skynews/Home/Business/Jenny-Uglow-On-The-New-Faces-Of-50-Note---Matthew-Boulton-And-James-Watt-Of-Soho-Manufactory/Article/200906115293770 )
PCGS Coin Guide - Diverse Early American Tokens, http://www.pcgscoinguide.com
The Soho Mint information website, http://sohomint.info/index.html
Encyclopedia Brittanica, www.britannica.com/EBchecked/topic/458396/Phrygian-cap
_______________________________________________________________________________________
In his work The Early Coins of America, Sylvester S. Crosby paid the Myddelton Token the ultimate compliment:
"In beauty of design and execution, the tokens are unsurpassed by any piece issued for American circulation."
The Myddelton Token is a historically relevant issue, proposed as a circulating coin by Philip Perry Price Myddelton to attract farmers and laborers to settle his large track of land on the Ohio River in Kentucky. Myddelton, an Englishman, planned to form a farming community there and promised steady employment.
The tokens were struck by Matthew Boulton with dies almost certainly engraved by Conrad Küchler. The copper specimens were the intended issue, but for some reason a number of silver pieces (thought to have been 53) were struck first by Boulton on March 8, 1796.
Research indicates that Myddelton originally contracted with Boulton's Soho Mint for copper coins, and in the surviving correspondence there is no reference to the silver pieces. Perhaps these silver pieces were struck for advertising purposes most likely for use by the Soho Mint and Boulton, since Myddelton was scheduled to sail to Kentucky within days of these silver coins being struck and would have had little time to present the silver coins to prospective colonists.
However, Myddelton was arrested for "enticing artificers to emigrate to the United States". Myddelton ended up in Newgate Prison, where his one year sentence lasted over 3 years, when he was finally able to pay the £500 fine and gain his release.
Of the 53 silver pieces struck, 50 were put into Myddelton's account, and shortly thereafter 46 were returned to Boulton's Soho Mint, where they were quietly distributed over the next few years. Boulton feared reprisals from the government and wanted to distance himself from the problems that had entangled Myddelton.
We don't know if Myddelton ever made it to Kentucky, but he did resurface in Britain as the plaintiff in another lawsuit in 1806.
The Myddelton tokens represent one of the pinnacles of die engraving of the period. The complex design elements are rich in minute details and speak volumes in their symbolism.
The obverse shows a youthful Liberty, her right arm outstretched while her left arm holds a pole which supports a loose cap (the Phrygian cap on the pole has been traced back to Roman times when emancipated slaves, who wore such caps, placed their caps on poles to assert their freedom). Behind Liberty is a cornucopia, which is spilling forth fruit symbolizing the abundance of the new colony in Kentucky, and a small Liberty tree or branch, ringed with a wreath of Laurel near her feet (for peace). The image of Hope is on the left, presenting two children (genii, or supernatural spirits which take human form to serve their summoner) that represent the freedom and opportunity of the new colony. The ships anchor perhaps speaks of the long voyage to the new land, and once arriving being anchored to the land, as the anchor rests on the land as opposed hanging from a ship or on deck.
Britannia dominates the reverse, leaning on her shield, her head lowered and weeping, her spear pointed down. The symbols of Liberty - scales of justice, the fasces and Liberty cap - lie in disarray at her feet, suggesting that Britain had become a land devoid of justice and liberty in recent times.
All these elements combine to entice people to move to the new settlement. Interestingly, Matthew Boulton wrote to P. P. P. Myddelton on January 7, 1796 to inquire about Myddelton's request that Britannia be presented in such a manner on his proposed token. "In regard to the device I do not think myself qualified to speak of it, as I do not clearly see what point you aim at, or what passes in your mind, or why you should prefer Britannia weeping over your plantation, as I hope both you & Britain will have cause to rejoice."
Myddelton didn't see it that way, and stuck to his original concept of a weeping Britannia.
Matthew Boulton
Matthew Boulton was typical of the new men of the Industrial Revolution. He combined the shrewdness of the entrepreneur with the foresight of the visionary. In later life he became a Fellow of the Royal Society, and was known as one of the more benevolent industrialists, well known for his philanthropy (he established a theatre in Birmingham in 1807). He died on 17th August 1809, eight months after the ship bearing his coins in the Admiral Gardner came to grief on the Goodwin Sands. He started as a jeweller and brassware manufacturer, making buttons and other small brass goods in his Birmingham premises, the Soho Manufactory, which was established in Smethwick in 1761.
Soho House, Boulton’s home from 1765 up to his death in 1809
James Watt
In 1768 Boulton met James Watt, and because of his need for something to power his factory, he became interested in Watt's invention, the steam engine. Boulton first gained a share in the patent on Watt's steam engine as part payment for a debt from a fellow industrialist who went bankrupt. In 1775 Boulton and Watt became partners in the steam engine business, obtaining a 25-year extension of the patent. One of the first applications of the new invention was to power the pumps to drain the Cornish tin mines.
Soho Works, Birmingham and the automatic coin press
In 1786 Boulton applied steam power to his coining presses in the Soho works. Up until that time, coins had been produced by hand processes, which basically meant that blanks were placed into a press by workers who then had to screw down the machinery by hand to produce coinage. This was a laborious and time consuming process, made worse by the fact that the blanks were roughly cut out in the first place and often had to be hammered flat first to fit in the machine.
Boulton's coining press
The Soho Mint (Soho Manufactory)
The Principal Building of the Soho Manufactory photographed shortly before the demolition crews moved on-site in 1863
Sources:
Richard Margolis, The Colonial Newsletter, December 1999
www.CoinFacts.com
Ira & Larry Goldberg Coins & Collectibles, www.goldbergcoins.com
Matthew Boulton and James Watt, http://www.eicships.info/ships/s815/boulton.htm
Boulton And Watt: First Duo On The £50 Note,
( http://news.sky.com/skynews/Home/Business/Jenny-Uglow-On-The-New-Faces-Of-50-Note---Matthew-Boulton-And-James-Watt-Of-Soho-Manufactory/Article/200906115293770 )
PCGS Coin Guide - Diverse Early American Tokens, http://www.pcgscoinguide.com
The Soho Mint information website, http://sohomint.info/index.html
Encyclopedia Brittanica, www.britannica.com/EBchecked/topic/458396/Phrygian-cap
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Comments
Boulton of Soho also supplied us with copper planchets for minor coinage ca. late 18th c.
great write up MLC! (that token would make a nice avatar, huh?)
www.brunkauctions.com
I was born in a small town on the Ohio River in western Kentucky, so that connection is obviously interesting to me. Plus I think these are simply beautiful coins.
Greg
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Very interesting MLC -
JA
TD
I always drop my jaw when I see 200+ year old coins, particularly pre-1800, that survived in such condition!
And, that's a lot of cool background you have dug up on everything regarding it.
I don't think you found it all in 1 place.....
You planning to do that for each piece you have? I know you are very selective (unlike some of us
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
AB
- Jim
Spectacular post...thanks
hrh
I enjoy doing research and putting together posts like this one. I would welcome your suggestions for future topics.
In honor of the memory of Cpl. Michael E. Thompson
<< <i>Absolutely terrific post that was truly interesting reading. I do have one question that might be viewed as picky, but I am genuinely curious. The writeup states that in Roman times slaves would place the Phrygian cap on the end of a pole to assert their freedom; would this be that former slaves did this or did those who were currently slaves do this? Truly, I am not attempting to be picky, just curious. >>
According to Encyclopedia Brittanica, in Rome the Phrygian cap was worn by emancipated slaves as a symbol of their freedom.
I have corrected the post.
So beyond just the Myddelton's this thread is highly informative!
<< <i>Awesome Midlife! Your Myddelton is still one of the finest pieces I have seen on this here board, Thanks for posting. >>
Yes i'm quoting myself as it bears repeating. Fantastic thread, thanks for bringing it up again Midlife.
Collecting:
Conder tokens
19th & 20th Century coins from Great Britain and the Realm
I appreciate your sharing.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
There are a dozen or so copper pieces known. I'm not sure if I have any information about how many were actually struck.
The Myddelton token is part of the Early American Coins and Tokens Basic Design Set (1616-1820) . I haven't seen many for sale lately.