A rare Colonial silver coin, the 1652 Massachusetts threepence, recently made headlines after selling for an incredible $2.5 million at auction. Struck in 17th century Boston, this small yet highly valuable coin was discovered in an old cabinet in Amsterdam and is believed to have ties to the Quincy family of Boston, a notable political dynasty. The coin’s sale price far exceeded expectations, surpassing the previous world record for early American coins.
This discovery not only highlights the rarity and historical significance of Colonial silver coins but also demonstrates the ever-growing interest in rare American numismatic treasures. In this blog, we explore the fascinating history of the 1652 Massachusetts threepence, the significance of the Boston Mint, and the auction that broke records.
Historic Sale of 1652 Massachusetts Threepence Coin
A rare 1652 Massachusetts threepence coin minted in 17th century Boston has recently sold for an astounding $2.5 million. This small silver coin, about the size of a modern nickel and weighing just 1.1 grams, contains silver valued at only $1.03 based on today’s market prices. The sale price far surpassed the previous record of $646,250 for an American coin struck before the American Revolution. It also set a new record for any non-gold U.S. coin minted before the establishment of the U.S. Mint in 1792.
Record-Breaking Auction Price for Rare Coin
The $2.5 million auction price for the 1652 Massachusetts threepence shattered expectations, exceeding the in-house presale estimate by more than three times. This incredible result has made it the highest price ever paid for a non-gold U.S. coin struck before the founding of the U.S. Mint.
The Significance of the 1652 Massachusetts Threepence
The 1652 Massachusetts threepence is one of the rarest examples of early American coinage, as it was struck just weeks before the first U.S. mint opened. This coin and others minted at the Boston Mint played a crucial role in the Massachusetts Bay Colony’s economy, providing businesses with a reliable form of currency during a time when gold and silver were scarce in the colonies.
Boston Mint and Its Historical Context
The Boston Mint was officially established on May 27, 1652, to provide the Massachusetts Bay Colony with much-needed currency. England had been reluctant to send gold and silver coins to the colonies, creating a shortage.
The mint was created with the permission of local authorities, and two settlers, John Hull and Robert Sanderson, were tasked with striking silver coins, defying the crown’s authority in the process.
Rarity of NE 1652 Coins
Coins minted at the Boston Mint are exceptionally rare, with silver threepences, sixpences, and shillings all struck in four distinct designs between 1652 and 1682. The most well-known of these coins are the Pine Tree shillings, which were produced during the final decade of the mint’s operation.
The NE 1652 coins, marked with “NE” for New England and their value in pence (III, VI, or XII), are especially valuable, with the threepence being the rarest of them all.
Discovery of the Coin in Amsterdam
This particular threepence coin was discovered in an old cabinet in Amsterdam around 2016. It is believed to have come from the Quincy Family of Boston, a prominent political dynasty that included Abigail Adams. Her husband, John Adams, served as U.S. ambassador to the Netherlands in the late 18th century. Abigail’s great-grandfather, who was the stepbrother of John Hull, the mint’s creator, likely had ownership of this coin.
Connection to the Quincy Family and John Hull
The Quincy Family has deep roots in American history, and Abigail Adams’ connection to John Hull through her great-grandfather further ties this coin to an influential political dynasty. John Hull, who was responsible for minting the 1652 Massachusetts coins, was a key figure in early American numismatics.
PCGS Authentication of the NE Threepence
Extensive testing by the Professional Coin Grading Service (PCGS) confirmed that this coin is an authentic NE threepence, further increasing its value and historical significance.
Stack’s Bowers Galleries Auction Results
John Kraljevich, Director of Numismatic Americana at Stack’s Bowers Galleries, expressed being “very pleasantly shocked” by the final auction price, which greatly exceeded the presale estimate. The buyer’s identity remains undisclosed.
Other High-Value Items Sold by Stack’s Bowers Galleries
In addition to the 1652 Massachusetts threepence, two other examples of the 1652 New England shilling were sold at the same auction for $60,000 and $192,000, respectively. Stack’s Bowers Galleries is also known for handling other high-value collectibles, including the 1936 Nobel Peace Prize medal and rare pieces of paper money, which have sold for over $1 million.
Conclusion
The sale of this Colonial silver coin for $2.5 million has captivated the numismatic world, setting a new benchmark for rare American coins. Its remarkable discovery, rich historical background, and connection to the Quincy family further increase its value. This auction reminds us of the fascinating stories behind rare coins and their enduring appeal to collectors and historians alike.
FAQs
What is a Colonial silver coin?
A Colonial silver coin refers to coins minted in America during the colonial era, typically before the U.S. Mint was established in 1792.
Why was the 1652 Massachusetts threepence so valuable?
Its rarity, historical significance, and connection to the early American Mint made it a highly sought-after collector’s item.
Who discovered the 1652 Massachusetts threepence?
The coin was found in an old cabinet in Amsterdam around 2016, believed to have been part of the Quincy family’s collection.
What other items have sold for over $1 million at auction?
Stack’s Bowers Galleries has also sold rare items like the 1936 Nobel Peace Prize medal and historic paper money for over $1 million.