It was one of the boldest campaigns in history: the conquering of the mighty Inca Empire.

And who led it? An illiterate man born in poverty, the illegitimate son of a soldier and a servant. What drove him and his men was an insatiable desire for gold.

The Incas called gold “the tears wept by the sun,” and they used it for ornamentation. The golden temple of Coricancha, for example, was filled with gold, with one room containing a giant sun disc that reflected sunlight to illuminate the rest of the temple. The disc was even aligned so that during the summer solstice, it illuminated a place where only the emperor was allowed to sit. When the Spanish took Cusco, they destroyed most of Coricancha and melted down the gold plating and sculptures to send back to Spain.

From that and mints in the New World, the Spanish sent gold back to Europe in quantities the continent had never seen. And on those voyages, one of the treasures that pirates risked their lives for was the gold cob: coin of an empire.

All known examples of this coin came from the shipwrecks of the Santa Margarita and the Nuestra Señora de Atocha. Both sailed with the 1622 treasure fleet and sank off the coast of Florida.

Today we bring you a beautiful specimen of one of those cobs: a 1622 gold escudo. This 1622 gold escudo was the first gold coin struck in the New World. Gold escudos were introduced by Spain in the 16^th century and became the nation’s primary gold currency. They were minted in Madrid and Seville, as well as in several of Spain’s colonies.

Cobs are coins that were struck and trimmed by hand. When you handle a gold cob, you thus hold in your hand the handiwork of a 17^th-century minter: someone who struck your coin 400 years ago.

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What an embarrassment.

Americans used to use foreign money because we didn’t have our own.

In early America, we had no official coinage, and so we used a variety of foreign coins, including Spanish dollars.

In the 1780s, many prominent Americans began calling for the creation of a national mint. After the Constitution was ratified (giving Congress the power to coin money), Congress began reviewing the country’s monetary system and coinage and deciding what to do next. Treasury Secretary Alexander Hamilton recommended modeling our dollar on the Spanish dollar, and that’s what we went with.

In 1791, Congress authorized a mint. Three years later, engraver Robert Scot began working on the design for the dollar, which had Liberty on one side and an eagle on the other, as mandated by the Coinage Act. Extra care was taken with engraving the dollar compared to other denominations, because the U.S. knew this large coin would be heavily scrutinized when released and used abroad. This coin would represent our fledgling country, and we wanted it to do a good job.

However, the “Flowing Hair” design by Scot was short lived, as there were problems with the striking process … and a lack of enthusiasm for the design.

It’s actually kind of quaint. A relic of a bygone era, if you will (literally) …

The Flowing Hair Dollar was only minted for two years, making it quite rare.

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“Before there was a nation, before there was a symbol of this young nation — a flag, a constitution, a national seal — there was Washington. Even when in the course of revolutionary events a flag did appear and a Constitution, they did not have a long tradition behind them. But Washington was there, steadying the symbols, lending strength to them instead of drawing from them.” -Garry Wills

After a long, hard-fought Revolutionary war, the United States and Great Britain signed the Treaty of Paris in 1783. British troops finally left New York City in November, 1783 and in December George Washington resigned as Commander of the Revolutionary Army. America was free to chart its own course as an independent nation, no longer subject to the British monarchy.

Americans and many British sympathizers adored George Washington and wanted to pay homage to the man who wrested control of American away from the British and won freedom for his nation.

Born on February 22, 1732 in the state of Virginia, Washington was a Founding Father of the United States of America, a distinguished military commander who helped win the war by leading troops to significant victories against the British, and our nation’s first President.

“The ultimate significance of George Washington’s life lies in the fact that he singlehandedly redefined our traditional idea of greatness. To his everlasting credit, George Washington was ambiguous about power. The man who could have been king insisted that sovereignty lay with the people, however imperfect their judgment. At the end of the war and again at the end of his presidency, he calmly walked away from power.” – Richard Norton Smith

The Washington pieces were coined from 1783 through 1795 and quickly became popular with both British collectors and Americans. This category includes a variety of coins, tokens and medals, some were even produced in Britain, denominated with a half-penny or cent value.

Most of the high grade examples of each type that have survived were carefully preserved by British collectors. Meanwhile, the many well-worn surviving coins actually circulated in America.

Today, these colonial coins are all very rare and highly sought after by numismatics. Many included patriotic slogans and designs like eagles, shields, and stars, features that eventually were used on coins minted by the U.S. Mint.

Some, like the 1783 UNITY STATES and the 1793 Ship Halfpennies are fairly common. While others such as the Roman Head, dated 1783 and feature a left-facing bust of Washington wearing alternately a Roman toga or a military jacket are extremely rare and highlight sought after.

Collectors still actively seek out the 1791-dated copper tokens denominated ONE CENT. These tokens reveal a flattering and fairly accurate portrait of Washington facing left, dressed in a military jacket. There are two major types of the ONE CENT 1791 token, each display an eagle with a shield upon its breast. The first features the eagle with inverted wings, while the second and rarer type highlights a smaller eagle with its wings raised. Both show the eagle carrying an olive branch in its right claw and a bundle of arrows in its left.

Another popular item are brass tokens featuring the words “SUCCESS TO THE UNITED STATES” on their reverse. The tokens feature a right-facing bust of Washington, in military dress, and they are known in two sizes. Even today, they are generally discovered with little, if any wear, which implies these tokens were sold as souvenirs.

At Blanchard, we’re proud to offer our customers a fine selection of rare, historic coins. We’re confident we can help you find exactly what you’re looking for. Give us a call anytime!

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It seems rather conventional at first glance, but then you look at it: is that Lady Liberty wearing a Native American headdress?

This coin is as unique as its design. First, it’s an unusual denomination: $3. Second, the reason it was made is more than a little odd.

In 1851, the postage rate of a local prepaid letter was lowered from five cents to three cents. At the same time, a three-cent silver piece was introduced as a convenience, because the public hated the large cents that were in circulation then—and the thought of forcing our beleaguered citizens to fish out not one, not two, but three cents to pay for one stamp was just too much. Hence, the three-cent piece.

Then in 1853, the logic was carried further. Why not initiate a $3 gold piece so that people could more easily buy three-cent stamps by the sheet?

There you have it: this coin was created so that people could buy sheets of stamps more easily.

Needless, perhaps, to say, public demand never met production of this coin. Which is all the better for collectors, because many $3 coins have remained in excellent condition over the past 150+ years.

When you look at the coin, you see on the obverse a Native American “princess,” actually modeled on the Greco-Roman Crouching Venus statue that was then in a Philadelphia museum. She wears a feathered headdress with a band bearing the word “LIBERTY.” Such headdresses date back to early depictions of Native Americans, as far back as the 16th century. In the 1850s, Native American “princesses” were widely accepted as a symbol of America, until Columbia became more common. The words “UNITED STATES OF AMERICA” encircle Lady Liberty.

The reverse shows a wreath of tobacco, wheat, corn, and cotton. Within the wreath are the words “3 DOLLARS” and the date.

In 1889, the $3 piece shuffled off this mortal coil, and our nation’s coin denominations got significantly more practical (boring!).

We’re pleased to offer a fine selection of rare coins for most any budget. Take a look here and let us know if we can help you find that special coin for your collection.

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