A rare 1776 continental dollar coin, which was thought to be a mere copy, is set to fetch a remarkable sum at an upcoming auction. This coin, one of the first pattern coins ever struck for the United States, has ignited excitement among collectors and historians alike due to its historical significance and rarity. Here’s a deeper look at its fascinating story and the auction details.
The Discovery of the Coin
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The coin was discovered among a collection brought to Wotton Auction Rooms, an auction house based in Gloucestershire, England. The collection, housed in a toffee tin, contained several 18th and 19th-century items, but the continental dollar coin was one of the last pieces to be examined. Initially, the coin appeared dull and unimpressive, leading auctioneers to question its authenticity. While everything else in the collection seemed to be of high quality, the coin didn’t immediately stand out.
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Authentication of the Continental Dollar
Given the coin’s questionable appearance, Wotton Auction Rooms decided to send it to the NGC (Numismatic Guaranty Corporation) for authentication. The results were astonishing: the coin was confirmed to be a genuine 1776 continental dollar. This was a monumental discovery, as the continental dollar is considered one of the earliest pieces of U.S. coinage and an important part of American history.
A Glimpse into U.S. Coinage History
The 1776 continental dollar was designed during the American Revolution as a symbol of the fledgling nation’s independence. It is believed to have been created by Benjamin Franklin, although engraver Elisha Gallaudet is credited with producing the coins. These early dollars were struck at a makeshift private mint in New Jersey, with both silver and pewter versions issued.
The Rarity and Value of the Continental Dollar
The continental dollar is one of the rarest and most sought-after American coins. Only two silver versions are known to exist, and they are considered some of the most valuable coins in American numismatics. While pewter versions are more common, they still hold substantial value, especially in mint condition. For example, a pewter continental dollar sold for a record $264,500 in 2008.
Silver versions, however, are even more coveted. In 2015, a silver continental dollar sold at auction for an astounding $1,527,500, setting a new record for this type of coin. The recently discovered coin, being a silver version, is expected to fetch between £20,000 ($26,360) and £30,000 ($39,540) at its upcoming auction on October 3.
The Coin’s Impressive Legacy
The 1776 continental dollar is not just valuable for its rarity; it represents a crucial moment in American history. The coin was minted during the early years of the United States and reflects the nation’s struggle for independence from Britain. With only a handful of surviving examples, the coin serves as a reminder of the country’s formative years and its drive for self-sufficiency.
What Makes This Coin Special?
Aside from its age and historical importance, the 1776 continental dollar is a rare artifact of early American currency. The silver coins, in particular, are extraordinarily difficult to find, making them highly desirable for collectors. The coin’s significance is further amplified by its association with renowned figures like Benjamin Franklin, who is thought to have designed the coin.
The Upcoming Auction
The continental dollar coin will be auctioned at Wotton Auction Rooms on October 3. With a price estimate of £20,000 to £30,000, it is expected to attract attention from numismatists, historians, and collectors alike. The auction is expected to be highly competitive, with bidders eager to own a piece of American history.
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Conclusion
This rare 1776 continental dollar coin is not only a collector’s dream but also a historical treasure. Its recent discovery and subsequent authentication have brought it to the forefront of numismatic interest, and it is expected to achieve a significant price at auction. As one of the first coins ever struck for the United States, this artifact is a tangible link to the nation’s founding, making it an extraordinary addition to any collection.