1652 Pine Tree Shilling

[mhonzell]

Likely, the first US made coin, here is the Massachusetts Pine Tree Shilling,
(You have to love the original spelling of Massachusetts.)

The colony of Massachusetts Bay was a commercial success as early as 1650. But England was not inclined to send gold and silver coins to the colonies, for they were in short supply in the mother country. This led to an inadequate supply of money and put the new colony's future development in jeopardy.

In 1652, Boston took matters into their own hands, authorizing two settlers, John Hull and Robert Sanderson, to set up a mint in the capital. Soon, the two were striking silver coinage - shillings, sixpences, and threepences, which all bore the same date: 1652.

The coin's name comes from the tree found on the obverse. Most likely symbolizing one of the Bay Colony's prime exports, pine trees for ships' masts. Massachusetts coinage not only circulated within that colony, but was generally accepted throughout the Northeast, becoming a monetary standard in its own right.

Of course, with coins I research, there has to be a controversy... so, what mystery surrounded this coin?

The 1652 date.

While some believe that it was intended to commemorate the founding of the Massachusetts mint, which did occur in 1652, I have come to believe the choice was a reflection of larger political events. Coinage was a prerogative of the King. In theory, these colonists had no right to strike their own coins, no matter how great their need.

But in 1652, there was no king. King Charles had been beheaded three years previously, and England was a republic. The people in Massachusetts may have cleverly decided to put that date on their coinage so that they could deny any illegality when and if the monarchy were reestablished.

This particular "1652" shilling is more likely to have been minted around 1670. In 1682, the Hull/Sanderson mint closed after closer royal scrutiny of the operation.

In this good of shape, the coin sells for about $65k-70k.

[Daniel]

Great story and one of my favorite coins of all time. :thumbsup:

[Daniel]

I would like to add these commentaries to the website pages I have on the coins you write about.