Colonials Historical but Often Snubbed
Question: I have a coin with an Indian on one side. He has a bow in his right hand pointed upward. There is a star above it. An arrow, pointed downward, is in the left hand. The word common is on the left side and on the right is the word wealth. On the other side is an eagle with Cent across his chest. Massachusetts is written around the top and side of the coin. The date on the bottom is 1788. The coin appears to be copper. Could you give me any information about it?--D.M.
Answer: Your coin is an example of the earliest U.S. coinage. Massachusetts cents and half cents were issued in 1787 and 1788. These were the first coins to bear the cent denomination. There are many varieties of this early American piece. Interestingly, many of the other states also issued authorized coinage. These, along with Washington tokens and medals fall under the broad heading of Colonial coins.
Many of the Colonial pieces circulated widely into the 1800s. But collectors, for some reason, have to a large extent ignored the copper coins of Vermont, Connecticut, Massachusetts and New Jersey, along with the silver coins of the Massachusetts Bay Colony and coins honoring George Washington and similar issues.
It’s too bad too, because numismatics often delves into history, and the Colonial pieces are among the most historical of all U.S. coinage.
Many Colonial coins are underpriced compared to later issues. Colonials are a good area to collect, but the lack of profit potential keeps many collectors away. Your 1788 Massachusetts cent, for example, is probably only in the $25-to-$150 range, due to collector disinterest.
Coin News
Those unable to attend the Hong Kong International Coin Exposition in person Sept. 4-5 can still participate by mail bid in the auction being conducted by the Money Co. of Woodland Hills. Mostly foreign material is featured in the catalogue, including an extensive number of pieces from Nazi Germany. For a catalogue contact the Money Co., 19900 Ventura Blvd., Suite 200, Woodland Hills, Calif. 91364; telephone (818) 883-4496.
Belgium is the first country to issue coins denominated in the European Currency Unit with the release of a 5-Ecu silver coin and a 50-Ecu gold coin. The silver Ecu, released four months ago, has sold out. The gold Ecu is just becoming available. Both coins feature an effigy of Charles V, Holy Roman emperor from 1521 to 1558. Also, the Belgian Mint will issue a proof set of the gold and silver Ecu coins in September. For information, contact Manfra, Tordella & Brookes, 30 Rockefeller Center, Mezz. Office 50, 59 West 49th St., New York, N.Y. 10112.
More than 2,000 coins are being offered in the United States Gold, Silver and Copper Coins sale featuring selections from the L.S. Ruder collection. The auction, being held in conjunction with the Greater New York Numismatic Convention on Sept. 9, 10 and 11, is being conducted by Stack’s. For a catalogue, contact Stack’s at 123 West 57th St., New York, N.Y. 10019; telephone (212) 582-2580.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.