(1790) Church 1P Albany, New York No 'D', BN MS (PCGS#612)
The November 2011 Baltimore Auction
- Auctioneer
- Stack's Bowers
- Lot Number
- 139
- Grade
- F15
- Price
- 17,825
- Lot Description
- Undated (1790) Albany Church Penny. W-8495. URS-4. Without D. Fine-15 (PCGS). Struck atop a 1771 British halfpenny, perhaps counterfeit, with a full four digit date visible on the blank reverse, some of the seated Britannia, and nearly full legends on both sides. The central CHURCH PENNY punch is bold, a bit softer at bottom than base, but fully outlined. It is far better struck than the Bowers <em>Encyclopedia</em> plate coin. The surfaces are a nice dark chocolate-brown, essentially smooth and glossy, with just some light scattered pits and fine hairline scratches on the reverse that require a glass to see. The eye appeal is superb, and we would not have been surprised to see this in a Very Fine holder.<br /> The Bowers <em>Encyclopedia</em> suggests that five to eight specimens of this variety, without the D, are known. The variety with D, an abbreviation for penny or “denarium,” is equally rare. The market has not drawn a significant difference between the two varieties, though most advanced collectors seek both. Examples are rarely offered at auction. A PCGS EF-45, ex Boyd-Ford, realized $74,750 in a January 2007 Heritage sale, one of just two appearances of a Church Penny at auction since the Ford sale of May 2004. The issue has reached a certain iconic status as a distinctive rarity and an odd inclusion in the post-Confederation U.S. colonial series. There is nothing else in the <em>Redbook</em> like it, nor is there another American communion token of the era whose story is so well documented. Just 1000 pieces were struck by the First Presbyterian Church of Albany in 1790, and collectors have cherished them since they were barely 70 years old. Today, opportunity is more vital to acquiring a nice Albany Church Penny than a large checkbook, and once passed it is not likely this specimen will turn up again soon.
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