How widely did the various State coppers circulate after 1793?
MrEureka
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The copper pieces issued by NJ, CT, VT, NY and MA in the mid to late 1780's tend to be heavily worn, so they must have circulated well past the introduction of US copper coinage in 1793. Same goes for Fugios and other copper issues of the 1780's. What do we know about how long these coins actually circulated and how easy it was to spend them?
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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This is an excellent question. I seem to remember a discussion about the topic on this forum several years ago. My own suspicion is that these coins remained in regular use for at least 40 years after they were struck. It would also be interesting to know if the state issues were accepted outside of the states where they were issued. Just how far afield did the state issues travel?
It is common to see state coppers dug by metal detectorists in "other" states. For example, Mass. and Conn. coppers show up in Vermont, New York, and New Hampshire on a regular basis. The NJ coppers also seem to have traveled quite a distance, based on metal detecting recoveries. Keep in mind that King George coppers circulated widely and were accepted as currency for many years, likely after 1793, and they are not even American coins. In the 1790s, it's unlikely that the small mintage of U.S. half cents and cents was enough to satisfy the demands of daily commerce in the whole country, and I think that many non-Federal copper coins persisted in circulation until after 1800.
Considering the heavy wear seen on many surviving specimens, it wouldn't surprise me if they circulated until the end of the large cent era especially in rural areas.
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Interesting discussion.... I would think, based mainly on what I know from MD'rs, that circulation was widespread around the Northeast. Likely well into the 1800's. Cheers, RickO
The people used whatever they could get. You might think that the copper coins produced by the first mint took charge after they were introduced, but that was not true. Neither the large cent nor the half cent circulated all that well, and mintages were not large enough to replace all of the other coins that had circulated previously.
It has been well known that there were more foreign coins circulating in a American than U.S. pieces. It’s been stated in the introduction in “The Red Book” that there were more people in the United State than U. S. coin in circulation when the first mint closed on January 1, 1832. Congress didn’t demonize the Spanish silver until 1857. There is no reason to think that the copper coins were any different.
Excellent opening question!
Agree with the others, especially rhedden’s logic.
Would also add that they were likely needed to purchase necessities, and couldn’t afford to be collected or kept as novelties by most of the people at that time.
There's actually plenty of evidence that these coppers circulated right up until large cents disappeared from circulation, probably by the Civil War.
People tend to save old coins as they become obsolete in circulation. The 90% silver hoards today tend to be what was pulled from circulation from roughly 1966-72, as silver disappeared. Very few silver hoards contain uncirculated Mercury dimes or higher grade Barber coinage. They weren't in circulation as late as 1966-72.
Now consider groups of old large cents, many likely pulled from circulation late 1850s-60s. Quite common (beside damaged and corroded large cents) among them will be English half pennies and the occasional colonial. There's not a lot of copper from other countries in circulation, but more silver. So, yes, these were very likely a few of these (perhaps 2 or 3 per 100) colonials still in circulation around 1857.
The fact that the mint would refine your foreign precious metals but not the copper probably impacted the amount of foreign copper finding it's way into the U.S.
From Whitman's Encyclopedia of Colonial and Early American Coins by Q. David Bowers:
"Got a flaming heart, can't get my fill"
It appears that almost anything round and copper could pass for a copper coin at the time.
Here's an interesting article about coins circulating in Canada in the 19th century.
Most of the article deals with a British East India coin. However one tourist who was a coin collector reported receiving ancient coins in change.
"East Meets West: An East Indian Coin in the Western Colonies" by Kiara Beaulieu1
International Journal of Historical Archaeology, volume 20 (2016)
Internet link:
https://link.springer.com/article/10.1007/s10761-016-0371-4
This practice may account for some of the ancient coins that metal detectorists find in America.
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As others have said the various state coppers circulated long after US Mint coppers were initially struck, as long as merchants accepted them, and probably a copper was a copper to most merchants. When they stopped circulating was when they became collectibles - when the numismatic value became higher than commerce value. We have seen similar action with silver to clad, and to some extent wheat cents.
I find that period in US numismatics fascinating, when collectors realized the rarity of coins such as 1796/97 half dollars and 1794 dollars. The first US coin price guide (~1860? posted here long ago) had the small eagle halves as initially among the most valuable coins.
Good article and in line with my thinking.
I was guessing 1860s as that's when private coinage was outlawed.
As long as they are legal, why not use them?
What few realize is that England ceased shipments of coin to the colonies and deeply hampered Spanish or other monies from arriving in an effort to weaken the unruly militant militia. Mints in the northern colonies, primarily those in Massachusetts and Vermont were target to prevent coining for commerce. So what little existed most certainly circulated heavily. For this reason, the Continental Congress began issuing paper script in large quantities to make up the shortcomings and finance an army. Even after the Treaty of Paris in 1783 England was slow to supply needed coinage to the Americans. Again, further circulating as the population grew.
A great question, which we may not be able to answer until somebody perfects the Wayback Machine.
It is a shame that the Mint apparently ignored them when logging in worn and uncurrent coinage received for recoinage. I imagine that if they were received in from the banking system they were just recorded as scrap copper or the like, so that the Mint would not be expected to replace it at face value.
Some years ago I did a story for COINage about the numbers of obsolete U.S. coinage types received back during the 1920's and 30's, and duly recorded in the Mint reports for most years. You would be amazed at the numbers of large cents that turned up, as well as a few half cents.
Speaking of half cents, I hereby idly speculate if some of the lighter state coppers, including Virginia halfpennies, might have circulated in the new Federal coinage system as Half Cents rather than full Cents. I base this speculation on nothing other than an idle mind.
TD
P.S.: I would bet you that the Massachusetts Cents and Half Cents circulated at full face value.
It's fairly easy and straightforward to picture, right up through the 1850's, change for a quarter or 2-real sized silver coin being given in whatever combination of smaller silver and copper change that was available, primarily based on size.
This would include dimes & 1 real coins and their counterparts from other regions, half dimes and half reals, and cent and half cent sized coppers of wide variety. These similarly would be readily tendered and accepted based on size and weight.
Larger silver and gold coins would obviously receive more scrutiny before being accepted, and of course also were valued by mass, with markings taken as guidance.
Same principle of mass holds for hard times and civil war tokens.. and copper/ bronze ancients, too
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it would be weird to get a colonial copper in change in Canada in 1920