Why Are NJ Colonial Coins So Common?

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Author	Replies: 3 / Views: 1,364
paul27613 Valued Member United States 152 Posts	Posted 07/25/2015 11:20 pm All of you C4 experts and Colonial coin gurus are probably cringing at this question but........why are NJ Colonial coins so common? I picked up two 1787 NJ Colonials at a local auction and decided to keep one, and list one on ebay. Curious about how the prices were I looked at SOLD auctions was surprised. Overall I see something like 115 currently on auction and another 45 sold. To use a technical term that would seem to indicate there are a crap-load out there. What is the thinking behind so many still being around? thanks! Oh, my image attached!! Report this Post to the Staff

philadelphian Pillar of the Community United States 3253 Posts	Posted 07/25/2015 11:54 pm For whatever reasons, NJ coppers were valued more highly by the end of the 1780s, relative to other state coppers. Matthias Ogden continued to mint them through 1790, past the period of the original state contract, using past-dated dies, and extensively overstriking other states' coppers into the more-highly-valued Nova Caesareas, increasing their circulating numbers at the expense of the populations of Connecticuts, and the like. Ogden could scoop up Conmecticuts at 45 to the shilling, and turn them into New Jerseys that passed at 15 to the shilling, and triple his money. Edited by philadelphian 07/26/2015 12:00 am Report this Post to the Staff
bpoc1 Rest in Peace United States 4078 Posts	Posted 07/26/2015 12:48 am Wow. Great information . Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 07/26/2015 05:33 am Several mints made NJ that were actually authorized to do so because unlike the other state coinages the NJ coppers had legal tender status. Report this Post to the Staff
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