Insights

$47,000 the winning bid at Eric P. Newman auction for 1652 Pine Tree shilling from Massachusetts

Portion of Market Analysis Column from June 16, 2014, issue of Coin World
By , Coin World
Published : 06/02/14
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The following post is pulled from Coin World editor Steve Roach’s Market Analysis column in the June 16 issue.

Heritage Auction’s fourth sale of the varied numismatic collections of St. Louis numismatist Eric P. Newman took place in New York City on May 16 and May 17. In total, the two days of auctions realized more than $11 million.

The Market Analysis column in the June 9 issue looked at three pieces at the $100, $500 and $1,000 levels. 

This coin is among three fascinating pieces from Newman IV that each sold around the $50,000 level. 

The coin: 1652 Pine Tree shilling, Large Planchet, Mint State 63, $47,000 

The story: Massachusetts Pine Tree shillings are among the textbook Early American coins. 

This Mint State 63 example is of “superlative quality” as noted by Heritage, which adds, “The irregularly shaped planchet displays a crisp and well-centered strike, with the majority of the designs present and exhibiting strong definition. Beautifully toned, with hues of champagne, gold, blue-green, pink, sea-green, and lavender.”

The design is uncommonly beautiful for the series with asymmetrical tree branches. 

Though carrying the date of 1652 on the reverse, Pine Tree shillings on large planchets (ranging from 27 to 31 millimeters in diameter, as opposed to small planchets of 22 to 26 millimeters in diameter) were struck circa 1667 to 1682. 

The large planchet was utilized to put the Massachusetts pieces in line with contemporary English coins, but the weight was kept at a standard 72 grains. At 73.8 grains, this Mint State example weighs slightly more than that.

Read the rest of Roach's Market Analysis column:

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