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    Description

    Distinctive One Penny Round-the Rarest 1722 Denomination

    Massachusetts June, 1722 One Penny Round PCGS Very Fine 20.
    A severe small change shortage struck the colony in such degree that Governor Samuel Shute issued a proclamation forbidding the willful tearing and cutting of existing Massachusetts Bay notes in order to make change. Government officials also were prohibited from accepting willfully damaged notes. This 1722 issue was an attempt to remedy that shortage as £500 in 1d, 2d, and 3d notes were printed on parchment. Each denomination was of a different shape for easy recognition. The notes were uniface, unnumbered, and unsigned. The One Penny Round is the most intriguing and "coin-like" of the three denominations. Most examples are part of sets. One complete set was offered in auctions of the Eric P. Newman Collection, from which this penny originated. Two of the complete sets of four are beyond the reach of collectors, as one is part of the holdings of the American Antiquarian Society, and another is locked away at the American Numismatic Society. The fourth set was dispersed at the Ford III auction. Besides those cited in sets, the Ford III catalog enumerates the Roper-Altman/Haffner Sale piece and the Rideout example. The recent discovery of a new example brought the total number of pieces available to collectors to six. That discovery piece also let researchers to conclude there are two varieties of this incredibly rare piece, one with a period after the date, and one without. The Colonial Valley Collection, in its breadth of offerings, includes an example of both types, an outstanding opportunity for Colonial Currency specialists.

    The piece in this lot exhibits normal wear for the grade, is slightly "short" at the top, and a bit lightly printed. As there are only five examples for collectors to fight over and one of those looks like it has been lost to time. This is a great opportunity to bid on one of the most distinctive and fascinating American paper currency notes. One must also consider that coin collectors may also pursue the notes of this issue.
    From the Colonial Valley Collection


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    Auction Info

    Auction Dates
    April, 2021
    21st-23rd Wednesday-Friday
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