Adding More Controversy to the Unique Brasher “Half Doubloon”- A Hamilton Pedigree--Maybe? Long
JCH22
Posts: 359 ✭✭✭✭
THE COIN
Brasher's Doubloon was meant to emulate the Spanish doubloon of eight escudos –which was colloquially referred to in the Colonies simply as a "Doubloon.”
The Unique Brasher "Half Doubloon" is held by the Smithsonian:
For additional photos and info, see, https://americanhistory.si.edu/collections/object/nmah_1095000
According to Coinfacts....:
“The Brasher Half Doubloon is stuck from the same dies as the New York Style Brasher Doubloon but on a planchet that weighs half as much as the full Doubloon. The weight of the Doubloons range from a high of 26.66 grams to a low of 26.36, while the unique Half Doubloon weight is 13.2 grams. It seems that Brasher was intent on making these earliest of American gold pieces usable in commerce and the thought of multiple denomination is proved by this unique coin.
The only reason the Half Doubloon is not talked about as one of the most expensive coins ever sold is because it has never been sold at public auction and was last privately sold in the 1950’s. In all probability this coin will never again be offered for sale since it is now in the collection of the Smithsonian, part of the collection of Josiah K. Lilly collection that it acquired in the 1960’s.
The Brasher Half Doubloon was not known until 1928, some 140 years after its date of issue and its pedigree is as follows: David Proskey, F.C.C. Boyd, Col. E.H.R. Green, Frank Smith, Major Ball, Josiah K. Lilly, Smithsonian Institution.”
https://www.pcgs.com/coinfacts/coin/1787-1-2-db-brasher/489#sectionNarrative
Note, the only authority for the weight of the "Half Doubloon" was Breen. As with most things Breen, no specifics are provided on how that weight was obtained—just Breen stating something……. I have found no source which refers to the specific results of any test to objectively determine its weight.
CONTROVERSY SINCE ITS DISCOVERY:
Whether the coin was struck as a “half doubloon” has been a long standing controversy since it came to light in 1925 as illustrated by some of the below exchanges of correspondence between E.H. Adams and Newcomer.
The controversy continued thereafter. Questions were raised in the 1960s whether the coin may have been clipped, and perhaps further clipped as it changed hands between its discovery, and donation to the Smithsonian.
AN ALEXANDER HAMILTON PEDIGREE?
In 1791, Hamilton wrote to Treasury Cashier Seton requesting an assay of a Brasher piece sent to him by a Treasury employee
To William Seton
[Philadelphia, June 17, 1791]
Dr Sir
A considerable time since Mr. Francis Cashier of the Bank of North America delivered me the inclosed piece of Metal which has Mr. Brasiers [spelling in the original] stamp and is alleged to be less valuable than the Stampt piece of equal weight to which it was intended to correspond by 8/10 Pa. Currency.
This estimate is formed according to the specific gravity of the piece as ascertained by the Hydrostatic Ballance.
In the hurry of business I misplaced the piece and it has only turned up within a few days. As the circumstance is worthy of attention I now send it forward with what has been alleged. When you have made the proper investigation you will please to return it.
With great regard
I remain Your Obed Servamt
A Hamilton
Philadelphia June 1791
Seton replied:
From William Seton
[New York] 15 Aug. 1791
Sir
…. Mr Brasher the Goldsmith begs that I will hand to you the Letter he has wrote to me upon the subject of the Dublon. I wish it may exonerate him in your opinion, for I am convinced he is a thorough honest Man. I return the piece of Metal enclosed agreeable to your desire and have the honor to be with the greatest respect
Sir Your Obedt Hum Serv
Unfortunately, Brasher’s referenced enclosed letter is unknown today.
DOES THE MATH FAVOR A HAMILTON PEDIGREE?
According to Hamilton, his example was light by 8/10 of a Pennsylvania Pound (8 shilling, 10 pence). It has proved difficult to nail down the value in gold of 8s/6p of the Pennsylvania pound in 1791. When enacted, the value of a shilling of a PA Pound, differed the English pound ( 9p per shilling as opposed to the English 12p). Some articles indicated the PA. Pound traded at par, others at a 75% discount. Gold was said to be traded at $19.39 an ounce during this time period.
If anyone has more concrete info on the gold value of 8s/10p of “PA Currency in 1791", it sure would would be appreciated.
Although unlikely “half weight” Hamilton’s example was far off the standard of other examples, of “full weight Brashers”--- by a considerable margin. Given the 1) unverified weight of the example in the Smithsonian, 2) questions as to if the coin was clipped, and if so, when, and how often; and, 4) how far off standard Hamilton’s example was from other Brashers--- it does raise a question whether Hamilton’s example is the the “Half Doubloon .” It also raises the subsidiary questions whether the Half Doubloon is really just a clipped Brasher --as well as its whereabouts between 1791 and the 1920s).
Comments
Very interesting!
Referencing specific gravity makes it highly doubtful- the issue would be the fineness of the gold. Perhaps a regulated foreign piece.
It would be interesting to compare the thickness of a full Brasher and the half brasher. Assuming the weight provided by Breen is correct, all we need is an overlay of the two pieces, to make sure the two images are scaled properly.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
How does the bifurcations of the letters and devices differ between the Half Doubloon and the full Doubloons, comparing an area that is close to the edge on the Half Doubloon and a ways in from the edge on the full Doubloon, such as (but not limited to) the tops of the word EXCELSIOR? This might, repeat might, indicate whether the piece was struck on a smaller planchet or struck on a larger planchet and then cut down.