Regarding damage on coins, few post-striking impairments are more
interesting than counterstamps and chop marks.
Chop marks are most often seen on Trade dollars while counterstamps
are most often placed on a coin by a merchant as a form of
advertising. The presence of a counterstamp or intriguing chop marks
can sometimes increase the value of a coin by adding historical interest.
protect the coin hobby from predatory sellers?: Inside Coin World:
“Should the numismatic community ‘police’ the sellers of coins,
medals, and related objects, even those dealers who fall outside of
the mainstream dealer network?”
Heritage’s auction held during the February Long Beach Expo and a
pre-expo auction by Ira and Larry Goldberg Auctioneers both featured a
few great examples of coins where individuals intentionally stamped
the surfaces to convey messages or test value.
Here is one of three we profile in this Market Analysis:
1798 Draped Bust, Heraldic Eagle dollar, Very
Fine 25, Obverse Counterstamp
Merchants would often counterstamp coins in the 19th century with
their business names to help promote their goods and services. On Feb.
12 the Goldbergs sold a 1798 Draped Bust, Heraldic Eagle silver dollar
graded by PCGS as Very Fine 25, Counterstamp, for $2,115. The early
dollar has even wear and attractive toning at the rims.
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The name W. BEATTY & SON is prominently double-stamped across
the obverse, with corresponding flatness resulting on the reverse.
William Beatty was among the more prolific edge-toolmakers working in
Pennsylvania in the 19th century, especially well-versed at producing
broad axes. The counterstamp seen on the dollar is also seen on other
metalwork produced during the 19th century.
Bust dollar: Pick up one of the nation's first silver
dollars – whether it bears the Flowing Hair or Draped Bust design –
and take measure of its heft: This is a substantial coin! It's big
(39.5 millimeters in diameter) and heavy (26.956 grams). How much
are Draped Bust dollars worth?
William Beatty’s business was continued by his sons after his death
around 1843. It is probable that this mark was stamped on the dollar
decades after the coin was struck at the Philadelphia Mint, and dating
the countermark based on its contemporary use on tools could provide a
solid research question for the curious buyer.
Keep Reading About Coins With Chop Marks and Counterstamps:
Once shunned, Trade dollars with
Asian chop marks now have a market:
In 2003 PCGS began certifying Trade dollars with chop marks, and
today these Trade dollars are valued by collectors.
Does this 17th century
silver coin have a chop mark or a counterstamp? Hard to tell:
A 1662 Massachusetts Oak Tree twopence provides an interesting
quandary: what is the difference between a chop mark and a counterstamp?