The rarest coin I own . . .

Singapore · April 23, 2003 8:15AM

. . . might be this one:

MrEureka · April 23, 2003 8:19AM

I can't pronounce it, but I'd certainly buy it!

fcloud · April 23, 2003 8:21AM

you have a beauty there, could you share a little history lesson on it for us?

Singapore · April 23, 2003 8:37AM

I'm slightly embarrassed to say that while I am an avid collector of such pieces, I am not much of a numismatic historian on them. I don't know much more than would be found in, say, the Redbook.

I do know that it is a Rhode Island Ship Medal, circa 1779 / 1780. These are not often found in high grade, though you will see a couple of Mint State examples a year in the various auctions and what not for $5K, give or take, depending on the grade.

99% of those that you see are brass or copper - very, very rarely you will see one struck in pewter, and they will typically be dull gray in color with some spots and tin pest. Once every 213 years you will see a very nice pewter example and I am pleased to say that this time is right now, and the coin is right up there above Eureka's dog's head.

JA

cosmicdebris · April 23, 2003 9:18AM

Only 882 minted:

jadecoin · April 23, 2003 9:32AM

Darn it, singapore, how dare you! You never cease to tease and torment fellow board members with your unparalleled numismatic treasures. And, for the record, singapore is way beyond, umm, let's say, the Red Book, in terms of "numismatic history".

Thanks for sharing. How much?

ConstellatioCollector · April 23, 2003 9:36AM

Very nice coin Singapore!!!

I emailed you!!!

BigE · April 23, 2003 9:40AM

Very interesting-it looks like the guys in the three ships are fighting the indians in 13 canoes--------------------BigE

dpoole · April 23, 2003 9:44AM

Wonderful, sharp detailing on that, Singapore! What can you tell us about the design and the symbolism, on the reverse in particular? May I presume the thirteen boats have something to do with the newly-freed colonies? And if so, what accounts for the 19 (soldiers?) on the (hat?) in the center, and the three ships to the left? Fascinating!

jadecoin · April 23, 2003 10:01AM

If anyone has Breen's Encyclopedia of U.S. and Colonial Coins, check page 125 for a wonderful explanation of the Rhode Island Ship Tokens. If you don't have Breen's landmark work on American coinage, then I will offer this abbreviated version of Breen's research:

These tokens are satirical pieces and may be explained, according to Walter Breen, as follows: "The Americans had to run away in 1778; now there goes Adm. Howe the same way in 1779." The token is a satire on a revolutionary naval battle regarding the island of Conanicut.

Everyone should own a copy of Breen's best work. Then you will be able to learn more about this numismatic treasure and many other coins that are often neglected in coin publications.

Singapore's coin is extremely rare and probably the Garrett specimen of this elusive colonial type coin. Might I add: less than 10 known to exist.

Singapore · April 23, 2003 10:17AM

I'll try to answer the questions (in no particular order):

I think the 'hat' is actually a representation of Rhode Island.

As I said, I don't know anything more than whats written in the various guide books, so it would be slightly disingenuous for me to then to transcribe them here verbatim and act like I knew it. Breen has a whole passage about them, but occassionally Breen's accuracy was later questioned by others so I don't know if he was right on these pieces or not.

I am aware that these medals have an odd claim to fame in that apparently a rendering of one of these (though not this specific one) appeared in a Japanese numismatic book in ~1785. I have no idea why, who or how, but it is pretty neat. As such it is tempting, maybe, to go buy a medal detector and shoot over to Hokkaido and see if you can dig one up. Or not - its up to you.

As for the how much, well, its a matter of public record that it was about $19K at a Goldberg auction in 2002. Too much, in my opinion, but I knew at the time that the chance to buy a comparable piece wasn't going to come again anytime soon. This same coin had sold at Goldberg's Benson 1 sale in 2001 for $11.5K or so, at which time I was an underbidder saving his money for some later lots. A similar piece sold at a Bowers 1997 Rarities Sale for that same $19K which was going to be my limit.

I wise experienced collector taught me something last week when I met him for dinner which holds true for this coin - which was 'sometimes the opportunity to buy such a coin is actually rarer than the coin itself'.

And I am diggin' that Britannia piece.

Singapore · April 23, 2003 10:59AM

Actually, this not the Garrett coin - the Garret specimen is not as nice - I know because that one was offered to me a while ago and I would say its about an AU50 or 53.

This coin was ex-Dr. Benson apparently purchased in 1945 - it would have been off the market through all of the major sales from 1950 through 2000 until it showed up at Goldberg in February 2001.

Two other uncs. I'm aware of - the Bowers coin I mentioned before, and one in a Stack's sale in the early 1990s. The rest I am aware of are lesser grade.