This Rare Coin Was Minted In 1652 In Colonial Boston And Sold For Over $2.5 Million Dollars
A small silver coin was found in the back of a cabinet in Amsterdam eight years ago. It is about the size of a nickel and has a silver value of $1.03.
However, it was also minted in 1652 in colonial Boston, more than a century before the 13 colonies declared independence from Britain.
It was stamped with the initials “NE,” which stands for New England. The silver coin represents a rebellious act by the 13 colonies against the royal overlords who tried to control them.
Very few of these coins have survived until now, which makes this coin a rarity. It was sold at auction for over $2.5 million, setting a new record for an American coin created before the Revolution.
The coin was discovered in 2016 in an antique cabinet belonging to a homeowner in the Netherlands. It was next to a note that read, “Silver token unknown / From Quincy family / B. Ma. Dec 1798.”
At first, the discoverer was unaware of the coin’s history. After working with the Professional Coin Grading Service (PCGS), more information was revealed.
They found that the note was written in 1798, but the coin was much older. It had been made at the Boston Mint in 1652.
At the time the note was written, such coins were already considered a rarity. Furthermore, the coin’s link to the Quincy family was confirmed.
By producing its own coins, the Boston Mint challenged the British crown’s authority, representing New England’s determination to separate itself from British rule and regulate its own economy, according to the Massachusetts Historical Society.
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In 1781, Boston Mint coins were highly sought after by collectors. That same year, an English coin collector named Thomas Brand Hollis wrote to John Adams, the future president, and then-ambassador to the Netherlands, for help in obtaining one of the Boston Mint coins.
Adams asked his wife Abigail for assistance since her great-grandfather was the stepbrother of John Hull, the silversmith who was responsible for minting the coins.
So far, it is unclear whether the recently auctioned coin was shipped across the Atlantic by Adams, but the auction house thinks it is likely.
The only other known threepence coin of this type is housed in the Massachusetts Historical Society’s collection.
“As the very first American coins, NE shillings, sixpence, and threepence see a high level of demand and sell for dramatically high prices to well-heeled, historically minded collectors,” said Vicken Yegparian, the vice president of Stack’s Bowers Galleries.
“The record for an NE coin is $646,250, but we expect this piece to handily exceed that level.”
During the bidding, which lasted for an intense 12 minutes, the coin’s price steadily increased and ultimately sold for $2.52 million.
It became the most expensive non-gold U.S. coin that was created before the U.S. Mint was founded in 1792.
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