Fugio Newp for 2026
Rittenhouse
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My first purchase of 2026. An NGC63 Fugio, of course. Well, sort of a Fugio. This is a silver strike of the 104-FF die pair, the most common of the so-called "New Haven Restrikes." As the story goes, in 1859 or 1860 (both dates are used in the story) noted amateur archeologist, Horatio Rust, was travelling in the New Haven, CT area when a local coin collector lead him to the JE Bassett hardware store which had the residue of James Jarvis' mint which struck CTs and Fugios. Rust said he saw old Fugio dies lying in the open, some being used as paperweights. Rust purchased the dies and had several hundred copper, 50 silver, and one gold piece struck at an unnamed local factory. He also sold one die pair (105-QQ) to NY coin dealer John Curtis, who had 12 silver pieces struck before the obverse die fractured.
As JD and I pointed out in a 2025 article in Pennywise, the story doesn't make sense. I've said it stinks worse than a bucket of 3 day-old mackerel. First, why would a local collector help an outsider buy what would have at the time easily been the most famous and desirable local artifacts? More to the point, the evidence strongly supports the "local collector" being none other than Charles Wyllys Betts who ,even though he was just 13 or 14 at the time, was not only a well-known and very astute collector but also from a very wealthy family AND his father was also a well-known collector.
To make the story even stinkier, jus 4 or 5 years after Rust starts selling and trading his "New Haven Restrikes," previously unknown Fugio "patterns" begin appearing at auction, bringing $40 to 45, quite a sum for the day, and analysis shows that one of the "pattern" obverses, 103, was created from the same hub that made the 104 and 105 obverses for the commonly known "New Haven Restrikes." Further, the obverse master was created from an actual Fugio die, Newman 5, and then modified.
The evidence strongly supports the conclusion that the New Haven Restrike dies "found" by Horatio Rust were planted fabrications created to provide support for the previously unknown "patterns" being real. In short, the whole thing was a scam. As you read this tale, you can almost hear the soundtrack to "The Sting" playing.
For those who don't have access to PW, attached is a PDF of our article with the whole sordid tale laid out. Enjoy.
Comments
Thanks for the pdf file. I look forward to reading it during the cold snap this coming weekend.
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"stinks worse than a bucket of 3 day-old mackerel"
Great line!
That's my standard line for a story that simply makes no sense. Feel free to use it.