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1652 Mass Bay Colony Pine Tree Sixpence. Noe-33. Rarity-3. Pellets at Trunk

Started by leeg,

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leeg

leeg

Posted
Posted

I've always wanted to own a real piece of Early American History and now I do. :grin: Won this piece in the B&M Auction in Balt. It's graded PCGS VG10. It's the lowest graded six pence example at PCGS, no matter to me. Only 52 total six pence are graded at PCGS, 60 three pence, and over 400 shillings.

 

B&M's image of the coin:

 

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B&M Description:

 

A wavy planchet and off-center obverse impression are diagnostic of the Noe-33 variety. The reverse is much better centered on the flan, and the overall detail on that side is suitably bold in the context of the assigned grade. The obverse is quite soft, although the trunk of the tree and the word IN are both clearly discernible. Closer inspection also reveals the obverse pellets flanking the trunk. Dominant antique-gold patina with deeper copper-russet highlights around the devices.

 

PCGS# 22.

From our sale of the Princeton and Charles W. Ingle Collections, September 1986, lot 659.

 

I will provide my image when the coin arrives.

 

Now the history lesson: :)

 

 

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New England Map of 1707

 

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Massachusetts Bay Silver 1652-1682: General Introduction

 

 

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The Origin of the Mint

In the first years following the establishment of Massachusetts Bay in 1630 much local trade was conducted either by barter or with the use of commodity money or wampum. By the early 1640's the colony was trading with the Dutch in New Amsterdam and with the English and Spanish colonists on the Islands of the West Indies (as Bermuda, the Bahamas, Jamaica and Hispaniola), thus foreign silver coins began to enter the Massachusetts economy in significant numbers. On September 27, 1642 the General Court passed an act regulating the value of the Holland "ducatour" of the three guilders at six shillings, while the "rix" dollar and the Spanish American eight reales cob coins were valued at five shillings each. The act stated:

 

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This Cort [court] considring the oft occasions wee have of trading wth [with] the hollanders at the Dutch plantations & otherwise; do therefore order that the holland ducatour being worth 3 gilders shalbee currant at 6s in all paymts wthin or iurisdiction [payments within our jurisdiction], & the rix doller being 2 1/2 gildrs shalbee likewise currant at 5s. & the ryall of 8: shalbee also currant at 5s. (Crosby, pp. 29-30)

 

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The exact identification of the ducatour is not certain. Clearly it cannot refer to the Silver Rider ducatoon of 63 stuivers minted in the various provinces of the United Netherlands, as those coins were not issued until 1659, nor could it be the Lion dollar as that coin was less valuable than the rix dollar and the Spanish dollar. Possibly the ducatour was the three guilder Dutch silver coin of 60 stuivers minted 1544-1558 (and then again after 1681) or, more likely, it referred to the ducatone, a similar size silver coin issued in the Spanish Netherlands (in Brabant and Tournai) starting in 1618 and continuing into the 1700's. The ducatone was valued at 60 sols (equivalent to three guilders, that is 60 stuivers). The rix dollar mentioned in the legislation, refers to the rijksdaalder of 2 1/2 guilders or 50 stuivers issued by the various provinces of the United Netherlands for domestic use [For more information on these coins see the section on Dutch coinage in the America colonies].

 

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Although Dutch guilders were often encountered, the most prominent foreign coin was the Spanish American eight reales (the piece of eight), called the "Spanish dollar" by the colonists. This coin, along with its smaller fractional denominations of four, two and one real coins, was minted in Mexico and Peru and found its way to Boston through the lucrative trade with the West Indies. These Spanish dollars were crude "cobs" struck out of a clump of silver, without even a standard shape. The Spanish minted cobs as quickly as possible, primarily as an easy way of inventorying and marking refined silver to be shipped to Spain where it would be melted down for various uses. The cobs had not been designed to be used as circulating currency. However, in the colonies these crude silver coins filled a serious economic void and were regularly used. Unfortunately, because of their irregular shape, many holders of these coins would clip a small piece of silver off the uneven edge of the coin to sell at a later date and then pass the coin off for its full value. As these coins circulated from one person to another they became lighter and lighter. The irregular shape not only encouraged clipping but it also made counterfeiting easier. Of course, counterfeiters would include as much alloy as possible so that the coin would contain less than the minimum required silver content (i.e. fineness).

 

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As the number of lightweight Spanish silver coins in circulation increased, the Massachusetts General Court issued an order, that unfortunately no longer survives, requiring silver coinage to be counterstamped with a true value based on the coin's current weight. Clearly this measure was insufficient as it did not address the problems of the purity of the silver in the coin and clipping that took place after the coin was counterstamped. Further legislative discussion resulted in an entirely new approach to the problem.

 

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Since a method of guaranteeing a standard weight and value of these cobs coins could not be found the General Court took a bold new step. Legislation was drafted authorizing the establishment of mint where foreign silver coins would be melted down to produce local coins denominated in shillings and pence. In the preface to the draft of this minting act we learn about the problems with the previous order concerning the counterstamping of foreign coins. The preface stated the earlier order did not have broad public support and that it was, "...full of difficulties and unlikely to take effect in regard no persons are found willing to try and stamp the same." [i.e. stamp the foreign silver coins]. Luckily the draft of the mint act survives, as this preface, which is our only information on the earlier order, was deleted from the final act. The minting act was passed by the House of Magistrates on May 26, 1652 and on the following day an almost identical act was passed by the House of Deputies (together the two houses are known as the General Court). The act authorized a mint house in Boston where silver bullion and foreign silver coins could be melted down to produce silver coins of a standard weight and fineness in the denominations of threepence, sixpence and one shilling. John Hull, a twenty eight year old Boston goldsmith, was appointed mintmaster and a legislative committee of Richard Bellingham, William Hibbins, Edward Rawson as secretary, John Leveritt and Thomas Clark was formed to proceed with the process of establishing the mint. Click here for the text and transcription of the original draft of the 1652 mint act. Click here for the transcription of the May 27, 1652 mint act, as passed by the House of Deputies.

 

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With coining legislation approved by the General Court the mint committee went to work immediately, showing some results within two weeks. They met with Hull who requested his friend John Sanderson be appointed to assist with the mint. By June 10th the committee had composed an oath of office. On that date the General Court appointed Hull and Sanderson as minting officers for the colony and on the same day Hull swore the oath to faithfully and diligently perform his minting duties. According to a marginal note added to the written copy of the oath, Robert Sanderson was officially deposed on August 19th (Crosby p. 41). On June 20th the committee drafted an action for erecting a minting house sixteen feet square and ten feet high and approved the acquisition of all necessary minting tools and implements. In the same document they also requested an increase in the minting fees to be paid to Hull from what had been proposed in the original May act (from a 1s fee per 20s minted to a 15d fee per 20s minted plus a 1d per ounce allowance for waste, see Crosby p. 40). On the 22nd of June the committee agreed to set up the mint house on land owned by John Hull (to be purchased from Hull when he left the position of mintmaster) and selected Isacke Cullimore to supervise the construction of the house (Crosby p. 42). Presumably the building was soon erected and minting implements were obtained.

 

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Clearly other issues were decided by the committee but only one other committee related document survives, an undated order stating the coins should be round rather than "square" as was stated in the original act (Crosby p. 43). Most probably other portions of the May 26th act that were not implemented (as the use of privy marks) were also modified by the committee. Although the committee was authorized to implement most of their decisions immediately, approval for the minting fee increase had to be brought to the General Court, this modification was approved by both houses on October 28th.

 

John Hull left two small diaries, one about personal and family matters the other about politics, business and public affairs. Unfortunately there are very few comments directly on the mint in these books. In his personal diary Hull included the following passage under 1652:

 

After, when the town divided their one military company into four, I was chosen to be (and accepted) a sergeant, upon the 28th of 4th month, 1652. [that is June 28th, as the new year began March 1st]

 

1652. Also, upon occasion of much counterfeit coin brought in the country, and much loss accruing in that respect (and that did occasion a stoppage of trade), the General Court ordered a mint to be set up, and to coin it, bringing it to the sterling standard for fineness, and for weight every shilling to be three pennyweight; i.e., 9d at 5s per oz. And they made choice of me for that employment; and I chose my friend, Robert Sanderson, to be my partner, to which the Court consented. [from, John Hull, Diaries. pp. 145-146.]

 

Minting must have begun during the summer with the stamping of NE coinage. Clearly, a fair number of coins were in circulation by October as on October 19, 1652 the General Court issued an order revising the design of the coin to prevent trimming or clipping silver from the edge.

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rbrown4

rbrown4

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Posted

As others have expressed such an interesting coin and the History is amazing. Thank you for taking the time to post this information. It is so informative to all of us.

 

Rey

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