Thirty two years after the Mayflower landed on Cape Cod with 101 adventurous souls, Bostonians began minting silver coins. At this time the American colonies were, of course, ruled by England. And the colonial governments were run according to the charters granted by England’s king. A few of the charters permitted the colonial governments to mint coins, but most did not.

Massachusetts Bay was the first English colony to challenge this prohibition when the Massachusetts General Court in 1652 ordered that silver three pence, six pence and shilling could be struck in the English Americas.

The Massachusetts Bay government was simply trying to fill a huge need for standardized currency. Before this, the New England settlers were using “wampum” as a medium of exchange. Wampum was created from shells ground to the size of a kernel of corn. A hole was drilled through each piece so wampum could be hung on a strip of leather for convenience.

The early mint, located in Boston, was run by Mintmaster John Hull and his assistant Robert Saunderson. The first Massachusetts silver coin designs were simplistic with one side punched with a small NE for New England and the other side punched with the coin’s denomination in Roman numerals. For example, a shilling would show XII.

Surprisingly, the original legislation authorizing these coins required them to be square, not round. However, another subsequent law changed the shape to be round. Soon after, the Boston minters began creating additional varieties known today as the Willow, Oak and Pine Tree series. The Willow Tree silver coins were struck from 1653 until 1660, the Oak Trees from 1660 to 1667 and then the Pine Trees from 1667 to 1682.

These historic silver pieces were struck on handmade dies that were often individually distinct. That created a great number of die varieties for today’s advanced collector seeking levels of rarity. Nonetheless, all of these early colonial coins are scarce to rare today. The Pine Tree coinage survives in larger numbers than the Willow or Oak issues, making them the easiest to source and locate of the group.

Collectors today may find some surviving Massachusetts silver pieces to be slightly bent. At that time, due to superstitions, many of these silver pieces were bent and then straightened back out. Some people believed that bending the coin would ward off evil spirits. Many of these early Massachusetts silver coins were also holed and worn as a pendant for the same reasons.

A group of these 128 rare Massachusetts Colonial coins were sold for $2.9 million in a 2022. The coins were from the collection of numismatic researcher Christopher J. Salmon The top lot was a 1652 Willow Tree Sixpence graded NGC AU 55 that realized $312,000.

If you are intrigued by this story, reach out to a Blanchard portfolio manager today. Some of the early Massachusetts silver pieces are scarce and affordable while others are ultra-rare and costly, meaning a coin from unique and exciting era in early American history could be within your grasp, no matter the range of your investment level.

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If you’ve ever visited the balmy islands of Hawaii, you may have seen a sugar or pineapple plantation during your travels. Just like the “territorial” gold you may be familiar with struck by private minters in California, Oregon, Utah and Colorado, there is a charming subset of territorial coinage known as Hawaiian plantation tokens.

From 1860-1891, plantation tokens were struck for use in company stores on some of the well-known and large Hawaiian plantations. All Hawaiian plantation tokens are rare and highly sought-after today.

The Hawaiian Islands boast a rich and storied history. It was 1778 when British explorer Captain James Cook landed on the Hawaiian Islands. Indigenous Hawaiians had been living on the islands for over 1,000 years, yet there was no established monetary system there.

Hawaiians relied on Cowry shells, certain types of feathers and even sandalwood to use as money before the British arrived. However, in the years that followed, the British and sailors from other countries brought their native currency including British Sovereigns, Dutch Guilders, Spanish Escudos and these were introduced for use in commerce on the Hawaiian Islands.

Hawaii was an agrarian economy dominated by booming activity at sugar cane, pineapple and coffee plantations. In order to fill the currency void, the plantations created tokens from 1860-1891 that could be used as cash at their company stores. Many of these tokens were made in Maui by blacksmiths and were paid to plantation workers. While the plantation tokens were not legal tender, they did circulate as money throughout the Hawaiian Islands in the late 1800s

The exception appears to be the Waterhouse tokens, which were likely created as advertising pieces since they held no value at his stores.

Various tokens issued by several plantations included the Wailuku, Thomas Horton, Waterhouse and Haiku. These Hawaiian tokens are well-known within the advanced numismatic community and remain highly sought after by collectors today.

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Coin collecting is widely recognized as one of the most rewarding pursuits in the world. Once known as the “hobby of kings,” it is now called the “king of hobbies”.  As this review of the five most valuable coins in the world will reveal, it is indeed rewarding both personally and financially.

Coin collecting has its roots in the European Renaissance among wealthy Europeans. By the late 1590s coin collecting had become extremely popular among the nobility and the first known coin auctions were held in 1598 in Holland. Historically, collectors purchased rare coins for their historical significance and beauty, but as these collections fetched significantly higher values, investors began turning to rare coins as a new type of asset class for capital appreciation, diversification, non-correlation to stocks, and as a hedge against inflation.

Here is a list of the five most valuable coins in the world.

1. 1794 Flowing Hair Silver Dollar: $10 Million

In 2013, a legendary PCGS SP66 Flowing Hair dollar sold for $10,016,875. Some experts believe this coin, considered to be one of the greatest American numismatic specimens ever, could be the very first silver dollar ever struck. This coin featured an earlier die state than any other known specimens and is the only one with proof-like fields.

The Act of April 2, 1792, authorized the silver dollar and also established the United States Mint to create our nation’s coinage. The authorization of the silver dollar was extremely significant historically as it was the standard unit on which the United States monetary system would be based. All other coins struck at the United States Mint represent either fractional parts of the dollar or multiples of that unit.

2. 1933 Saint-Gaudens Gold Double Eagle: $18.9 Million

In 1933, the U.S. Mint struck 445,500 Saint-Gaudens Gold Double Eagles with a face value of $20. After these coins were produced in 1933, President Roosevelt, took the United States off the gold standard in an effort to help the American economy out of the Great Depression.

All but 10 of these beautiful coins were lost to the melting pot. They never circulated. One of these stunning coins mysteriously landed in Egypt and into the collection of King Farouk, a voracious coin collector. When the renowned Farouk collection, totaling over 8,500 medals and coins, was sold in 1952, the 1933 Double Eagle went missing.

This extremely rare and infamous coin did not resurface until 1996 in the U.S. and was seized by the U.S. Secret Service. The coin was returned to the United States Mint as a result of the Department of Justice’s settlement of a forfeiture action and, in that landmark legal settlement, this one coin became the only 1933 Double Eagle that is legal to own in a private collection.

3. The 1787 Brasher Doubloon: $7.4 Million – placed by Blanchard & Co.

In 2011, Blanchard and Company made numismatic history by placing the famed Brasher Doubloon for a record $7.395 million with a Wall Street investment firm. The identity of the buyer was not disclosed. The coin, dated 1787, was graded AU50 by PCGS and has a green CAC sticker.

This historic rarity was minted by Ephraim Brasher, a goldsmith, and neighbor of George Washington. The 1787 Brasher Doubloon is the first American-made gold coin denominated in dollars. The U.S. Mint in Philadelphia didn’t begin producing coins until the 1790s, and in our nation’s earlier years, it was common to use foreign coins in everyday transactions. The beautiful coin contains 26.66 grams of gold — slightly less than an ounce.

At the time of the sale in December 2011, CAC founder and Blanchard partner John Albanese hailed the coin as one of the most iconic pieces in all of the numismatics and the holy grail of all collectible gold coins. And it still is. Only seven Brasher Doubloons in all survive, and the one placed by Blanchard is the sole specimen with the initials of its maker, EB for goldsmith Ephraim Brasher, punched across the breast of the eagle depicted on the coin. The other six specimens feature EB on the bird’s right wing.

Ahead of the sale, at Blanchard’s New Orleans headquarters, the doubloon sat sealed in a protective case on an office table surrounded by three armed guards. Elevators were shut off to the 19th floor of a downtown office building housing Blanchard’s offices, and doors inside the office were locked, CBS News reported at the time. The coin, which is smaller than a half dollar but heavier, was to be delivered by armored vehicle to the buyer over the weekend.

Blanchard & Co. remains proud of its part in the transaction: The Brasher doubloon indeed falls into the rarefied strata of coin collecting and remains one of the most valuable coins in the world today.

The Brasher Dubloon made history again in January 2021, when another specimen sold at auction for a mind-blowing $9.36M.

4. The 1343 Edward III Florin: $6.8 Million

This coin is 679 years old and is thought to be one of only three of the same coins to have survived the centuries thus far. Two specimens of this extreme rarity are housed in the British Museum in London, both of which were found in the River Tyne in 1857. The third coin was found by a prospector with a metal detector in 2006 and was sold at auction in the same year. It’s now estimated that the coin is valued at around $6.8 million.

The front of the coin reveals King Edward III on his throne with two leopards’ heads on either side, while the reverse shows the Royal Cross inside a quatrefoil. Because of its design, the coin is also known as the Double Leopard.

5. 1913 Liberty Head Nickel – Morton-Smith-Eliasberg: $4.56 Million

The renowned Morton-Smith-Eliasberg Liberty Head Nickel sold $4,560,000 dollars at auction in 2018. One of only five known specimens, this version is considered to be the finest known example. It was owned by Louis E. Eliasberg a legendary Baltimore banker and American coin collector. In 1950, Eliasberg completed his collection of every coin ever minted by the United States dating back to 1792. His sons eventually sold his famed collection for about $45 million.

Parting Thoughts

Wondering about the advice Blanchard gives to coin collectors and investors? Always acquire the highest quality coin that fits in your budget and you will never be disappointed.

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