US Coins

Early American auction features Pine Tree shilling

Early American Auction’s 302-lot sale April 21 features a silver 1652 Massachusetts Pine Tree, Large Planchet, No Pellets at Trunk shilling that is attributed as Noe 2 in The Pine Tree Coinages of Massachusetts by Sydney P. Noe.

Offered as About Uncirculated, the coin carries an estimate of $10,000 to $12,000.

According to the auction lot description, the shilling weighs 61.5 grains.

“This coin is well centered with most of the legends well defined and some of the peripheral letter tops off the flan as is typical for the type. The Noe-2 Pine Tree Shilling variety was struck from an engraved die with a very weakly defined tree, as exhibited on this example,” the lot description reads.

Among other lots featured in the auction are an Osage Indian peace medal in brass and a 5-cent encased postage piece issue by merchant Pearce, Tolle & Holton.

Osage peace medal

In choice prooflike Uncirculated condition, the medal carries an estimate of $3,500 to $4,000.

The medal’s obverse depicts a portrait of Osage Chief Wah-she-hah. The reverse is an adaptation of the U.S. Mint-produced Indian peace medals featuring crossed tomahawk and peace pipe above a pair of hands grasped in friendship.


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The 38-millimeter medal was presented in 1911 by trader Edward Knox Elder to the Osage Indian tribe of Pawhuska, Oklahoma. Five examples were struck in silver for presentation to leading chiefs, 25 in brass, 25 in German silver and 15 in copper for lesser chiefs in the hierarchy, and 400 in aluminum for braves and their wives.

The dies for the medals were sold in a Stack's Jan. 16 to 17, 2007, sale.

The recipient of the medal offered in the auction, Wah-she-hah, Star-That-Travels, was also called Bacon Rind.

Encased postage

One of a purported five to 10 examples known, the Pearce, Tolle & Holton encased postage stamp is identified as in choice Extremely Fine to About Uncirculated condition.

The 5-cent postage stamp under the mica cover on the obverse features a portrait of Thomas Jefferson. The encased postage piece is attributed as EP-89.

Pearce, Tolle & Holton were wholesale purveyors of dry goods in Cincinnati, Ohio.

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