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1837 1c Feuchtwanger PCGS/CAC MS64 for sale here ***SOLD***

3 posts in this topic

whats the story behind this? is it a US coin?



This may help explain a few things



Also, this the ONLY token that PCGS grades and it is also CAC'd


There was a discussion ATS as to what or if this was legal tender

and one member replied BillJones



"The 1837 feuchtwanger coins were not legal tender, but it seemed that the Federal Government gave them a wink and nod for use in the economy. It has been the view of many collectors that the Federal Government was looking at the feasibility of a nickel coinage, and these were sort of circulating prototypes.


An interesting fact is that large cents and half cents didn’t have legal tender status either. They were coins of convenience for everyday transactions.


Legal tender had more to do with weather or not you could use coins or paper money to pay your taxes and other debts to the government. It was also connected with legal recognition of paying debts. Using a few cents to buy some groceries was not a big deal. Trying use a few hundred of them to pay a debt was something the debtor could legally decline.


There are sill limits on the legal tender status of cents today. You can't get back at someone to whom you owe money by dumping a truck load of cents in their front yard and saying that you have paid the debt. The debtor has a perfect right to decline that payment. "



And another member Ambro51 commented



"And O yes, they were legal tender (in the sense that Bill has stated) and saw extensive circulation. Within New York, Dr. feuchtwanger was well known, and given the estimated coinage of over a million, and the population of NYC at the time...they were no doubt well known and in heavy use. There tends to be three groups of survivors, a lot in the low XF to AU range, a small number in AG into VG...and then the sweet survivors with claims to MS.


Personally, I think the largest circulation was during the Hard Times era, but I feel that as the coins wore on, especially in areas away from NYC, they took on a new life as an old thin dime. A surprisingly large number of circulated one cent pieces (not three cent) have been carefully scratched, usually on the reverse, no doubt to try and figure out if they were silver..or WHAT they were."

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