Anyone familiar with Plantation Tokens?
EXOJUNKIE
Posts: 1,626 ✭✭✭✭✭
Yes, I know this isn't much to look at. In fact, you might think its downright ugly. But I got it dirt cheap and it's mine. Now I'm trying to figure out if its real, contemporary, restrike, or ??? Is there enough meat on it to determine anything? I know nothing about these. Can anyone help?
I'm addicted to exonumia ... it is numismatic crack!
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
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I don't know that much about these except that originals don't come very nice and there are restrikes that come in much nicer condition.
Not sure how to authenticate yours but TPGs do slab them. Here's a PCGS XF details Environmental Damage that sold for $305 at Long Beach last year. Nicer conditions sell for much more.
https://coins.ha.com/itm/colonials/-1688-american-plantations-token-hbrex-environmental-damage-pcgs-genuine-xf-details-newman-1-a-w-1130-r7andlt-/a/1239-3391.s?ic4=GalleryView-ShortDescription-071515
I think these are really cool. I picked up one last year.
Lance.
1688 American Plantations token are the first coinage authorized for the British Colonies in North America.
These pure tin tokens were struck at the Tower Mint in London for circulation in the New England and New York plantation colonies of England. It is believed that six obverse and seven reverse dies were employed. Struck at 50 to the pound, they had a stated value of 1/24 of a Spanish Real.
At some later date they were called "Proclamation Money" and deemed worth 1½ Farthings. In spite of this they traded at double face value in the Colonies.
All examples are rare, and always have rough surfaces. Most specimens have a common "tin pesting" appearance as the tin changes from its shiny metallic form to a brittle gray one.
The following history is courtesy of Ira & Larry Goldberg Coins & Collectibles, Inc.:
"The Plantation Token came about because of the tin price collapse in England during the period of 1679-80 (Breen).
Although tin had been discovered and used since antiquity, being useful in making bronze, the idea of using tin for coinage had not been employed. This is because of the fact that tin turns into dust when exposed to extreme cold almost instantly, more slowly at normal temperatures, with evidence of tin pesting a by product of time and exposure to the elements.
Nevertheless, the tin mine owners of Cornwall and Devonshire had a crisis, their tin mines were virtually worthless, and something had to be done with all that tin. What better solution than convincing the royal authorities under James II to coin the tin into money? Now the tin miners would have a steady source to sell their tin production to at higher prices than ever.
Thus the Tower Mint began producing tin farthings and half pence for British domestic circulation from 1684-92.
King James II's secretary Henry Guy then hatched the idea of making tin coins for the American Plantations, as the Colonies were known at that time, unless the Tower Mint had any objections. Apparently no objections were voiced, and soon the Tower Mint was coining these 1/24th Real coins for export.
Literally within a few weeks of these being struck., James II was ousted during the "Glorious Revolution" which interrupted coinage.
Analysis shows these coins to be 97.5% pure tin, which accounts for the always rough surfaces seen today. A London coin dealer named Matthew Young obtained two pairs of dies from these and restruck several in tin around 1828, these restrikes display a die crack in the right obverse field, and are nearly as rare as the originals."
Took a shot at attributing it - obverse looks like Newman 1- Horsemans head under G, 2nd to last word in the legend is HB, (not HIB). A photoshop overlay of ob and rev would be the definitive way to do it.
Thanks! So, assuming it can actually be attributed in it's poor state, I guess a couple of obvious questions are:
1. Is it worth anything?
2. Is it worth slabbing?
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
Judging from the Heritage coin Zions posted above, this one is the same obverse die variety but lower condition, so worth less. May not be worth the expense of slabbing. PCGS may also not be able to tell if it's real, which they will call a "No Decision" which I think means your get your money back (speaking from what I have heard, that's never happened to me)
Interesting pieces of British/American history. I have heard of these, though never saw one in hand...Being tin, I would think that any 'lost' coins would have disintegrated long ago.... Cheers, RickO