Some of numismatics' most celebrated rarities - including a 1787 Brasher doubloon and the Rosenthal specimen of the 1804 Draped Bust dollar - are displayed in an exhibit open to the public at the Federal Reserve Bank of New York.
The exhibit, "Drachmas, Doubloons and Dollars: The History of Money," presents more than 800 of the American Numismatic Society's most valuable holdings.
"For numismatics, this [exhibit] is a blockbuster," ANS Curator Robert W. Hoge said.
The exhibit's opening was celebrated Jan. 16 with a reception, ribbon-cutting ceremony and remarks by Chairman of the Federal Reserve Alan Greenspan.
Greenspan revealed that he had been interested in coins since his childhood and that had he saved his Indian Head cents, his "assets would rival those of the Federal Reserve Bank of New York."
Greenspan delivered a short lecture on the history of money, beginning with gold and silver and extending to today's fiat money, in which notes have no precious metal backing.
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1776 HALF DOLLAR Continental note is an early paper money issue of the United States on view at the ANS exhibit. The linked chain represents the original 13 Colonies.
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"The history of money is the history of civilization, or, more exactly, of some important civilizing values," he said. "Its form at any particular period of history reflects the degree of confidence or the degree of trust that market participants have in the institutions that govern every market system, whether centrally planned or free."
Upon the conclusion of Greenspan's remarks, the chairman joined ANS President Donald Partrick and New York Federal Reserve Bank President William McDonough to cut the ribbon officially opening the new exhibit.
The exhibit is situated in a 5,000 square foot area of the bank that was once used for bond trading.
The cathedral-like ceilings provide a stately setting for the numismatic displays, which begin with Greek coinage, follow through the medieval and Renaissance periods, and conclude with modern U.S. and world coinage.
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KUSHAN KING HUVISHKA issued the second century gold dinara show above the 5-cedi note of Ghana. The Kushan Empire ruled parts of what today are northwest India, Pakistan and Afghanistan. Both items are on view at the ANS exhibit.
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"For so long we have had these wonderful coins in a vault," Partrick said, commenting that it was exciting to present the coins to the public.
Cases displaying New York City tokens, the future of money and current paper money are also included in the exhibit. Other numismatic highlights consist of a model for Victor David Brenner's Lincoln cent, a short film and a replicated 19th-century mint, complete with a coin screw press appropriate to the era.
Among the items on display is the society's 1861 Confederate half dollar, one of four struck by the Confederate government at the New Orleans Mint.
The exhibit will be available for public viewing 10 a.m. to 4 p.m. Monday through Friday through 2007 at the Federal Reserve Bank of New York, 33 Liberty St., New York City. Admission is free. Telephone (212) 720-6130 to arrange a guided tour.
For more information about the exhibit, telephone the ANS at (212) 234-3130, e-mail wright@amnumsoc.org or visit www.amnumsoc.org.
