A rare silver coin minted in 1652 in colonial Boston has made headlines after selling at auction for a record-breaking $2.52 million. This coin, about the size of a nickel, was found eight years ago in an antique cabinet in Amsterdam. Despite its modest silver value of just $1.03, its historical significance and rarity propelled its value into the millions.
A Rare Find With an Incredible Story
In 2016, a homeowner in the Netherlands stumbled upon the coin while sorting through an old cabinet. The coin was accompanied by a note dated 1798, which read, “Silver token unknown / From Quincy family / B. Ma. Dec 1798.” At first, the coin’s significance was unclear, but after expert analysis by the Professional Coin Grading Service (PCGS), its remarkable backstory came to light.
The coin, stamped with the initials “NE” for New England, was minted at the Boston Mint in 1652. Its production was a bold act of defiance by the American colonies, symbolizing their desire to break free from British control and assert their economic independence.
Historical Context: Coins of Rebellion
The Boston Mint, where this coin was made, challenged the authority of the British crown by producing currency without royal approval. According to the Massachusetts Historical Society, these coins were more than just currency—they were a statement of New England’s determination to govern its economy and destiny.
At the time, such coins were already rare, making their discovery even more remarkable. By 1781, they had become prized collector’s items. English coin collector Thomas Brand Hollis even reached out to John Adams, who was then the U.S. ambassador to the Netherlands, in hopes of obtaining one. Adams turned to his wife, Abigail, whose great-grandfather was the stepbrother of John Hull, the silversmith who minted the coins.
While it’s uncertain if this particular coin was sent overseas by Adams, the connection adds to its allure. The only other known coin of this type, a threepence piece, resides in the Massachusetts Historical Society’s collection.
Record-Breaking Auction
The auction, held by Stack’s Bowers Galleries, was highly competitive, lasting an intense 12 minutes. The coin shattered previous records, becoming the most expensive non-gold U.S. coin minted before the establishment of the U.S. Mint in 1792.
According to Vicken Yegparian, vice president of Stack’s Bowers Galleries, coins from the Boston Mint are among the most sought-after by collectors. “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,” Yegparian explained.
Legacy of the NE Coin
The auction highlights the enduring legacy and historical significance of the Boston Mint coins. These coins symbolize not just the ingenuity of early American colonists but also their resistance against British rule. The recently sold coin has now set a new benchmark for pre-Revolutionary American numismatics, solidifying its place in history as a valuable relic of the nation’s early struggle for independence.
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