A Little Numismatic Knowledge I Picked up Along the Way
melvin289
Posts: 3,019 ✭
Kranky inspired me with his post on the first map of The USA.
Richard Rush, a lawyer and diplomat, was sent to England by President Andrew Jackson in 1836 to secure the John Smithson legacy. The proceeds of his legacy became the Smithsonian Institute.
John Smithson, of England, left his estate to his nephew provided he had children. He died heirless and Smithson’s will then left the estate to The United States to establish in Washington, D.C. an institution for the “Increase and diffusion of knowledge among men.” Smithson had never visited the United States and his reasons for the bequest are unknown.
Rush, son of Benjamin Rush, a physician and signer of the Declaration of Independence spent two years in England selling off Smithson’s belongings. They amounted to $508,318.46, about 12 million dollars in today’s money. Rush refused to take the money in anything but newly minted English Sovereigns. There was no wear on them, they weighed more. The Sovereigns were brought to America and turned over to the Treasury and melted down and turned into mostly 1838 Five Dollar gold coins. All were melted but two Sovereigns and they remain a part of the collections of The National Museum of American History. If you own, or have held an 1838 $5 gold coin it was probably part of what Smithson left to the United States.
On a side note Benjamin Rush, the father, was one of the authors of the DSM, the Diagnostic and Statistical Manual of Mental Disorders, and still in print today as the DSM IV. This book is used by psychiatrist in the treatment of mental patients.
Ron
Richard Rush, a lawyer and diplomat, was sent to England by President Andrew Jackson in 1836 to secure the John Smithson legacy. The proceeds of his legacy became the Smithsonian Institute.
John Smithson, of England, left his estate to his nephew provided he had children. He died heirless and Smithson’s will then left the estate to The United States to establish in Washington, D.C. an institution for the “Increase and diffusion of knowledge among men.” Smithson had never visited the United States and his reasons for the bequest are unknown.
Rush, son of Benjamin Rush, a physician and signer of the Declaration of Independence spent two years in England selling off Smithson’s belongings. They amounted to $508,318.46, about 12 million dollars in today’s money. Rush refused to take the money in anything but newly minted English Sovereigns. There was no wear on them, they weighed more. The Sovereigns were brought to America and turned over to the Treasury and melted down and turned into mostly 1838 Five Dollar gold coins. All were melted but two Sovereigns and they remain a part of the collections of The National Museum of American History. If you own, or have held an 1838 $5 gold coin it was probably part of what Smithson left to the United States.
On a side note Benjamin Rush, the father, was one of the authors of the DSM, the Diagnostic and Statistical Manual of Mental Disorders, and still in print today as the DSM IV. This book is used by psychiatrist in the treatment of mental patients.
Ron
Collect for the love of the hobby, the beauty of the coins, and enjoy the ride.
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Comments
Not really looking for much these days but if I were, it might be a toner.
<< <i>Thanks for posting this Ron! Yes, I am bumping an old thread from last year. It's a good one though!
I missed it the first time around, so I thank you for bumping it, good sir!
Good story!
AB
<< <i>Interesting history, Melvin, thanks for sharing. I have one small correction, though-- Dr. Rush, often referred to as the "father of American Psychiatry," did not help author the DSM, which is a modern book that is used to diagnose and classify mental illness. >>
Are any posters here mentioned in the book? Some could probably fill whole chapters!
<< <i>A minor correction: it was James, not John, Smithson. >>
OOPs and I thought I did well.
Ron
<< <i>I would take $500k in 1836 over $12M today ... in an instant. >>
And give up all the modern stuff like internet porn.... Not I Sir
<< <i>Well at least we know you didnt cut and paste it from Wikipedia
I might shouldn't ought to tell this here on the Forum but I learned of Richard Rush and his connection to the Smithsonian while taking Abnormal Psych at college. Can I talk about Abnormal Psych here?
Ron
<< <i>Can I talk about Abnormal Psych here?
Ron
It is entirely on topic here, maybe even a required topic.
By the way, here are some pics from the Smithsonian site of one of those 1838 Half Eagles and here is their link with more info. Thought I read somewhere that when the top experts got to view some of the collection that this or another 1838 $5 was considered to be an MS-67 or 68.
1838 $5 Smithsonian info - http://americanhistory.si.edu/collections/object.cfm?key=35&objkey=712
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin