Prime Example Of A Counterstamp Elevating A Coin's Value ....

Here's an 1878-S Trade $1 that realized $737 in a recent ebay auction. Note that, in addition to the counterstamp, it has some rim dings. [https://www.ebay.com/itm/1878s-Trad...ig_cvip=true][/url]

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It appears to me that the counterstamp elevated the value, for a few bidders, at least, some five fold or more! Personally, I valued it between $400-$500.

Sure, the counterstamp damaged the coin, but it added history and mystery to the piece; and, therein rests the value for many collectors. When this coin was stamped, it wasn't legal tender. It did retain specie silver value though; and, managed to avoid a smith's melting pot.

Over the years, I've encountered many a collector who turned his nose up at counterstamps, saying they're naught but damaged coins. Agreed, that is true for many, being those stamped with random numbers, random letters and such. Still, there exists a large percentage of counterstamps that have a story to tell.

In whose hands were these stamped coins held? When, where and why were they stamped? What purpose did they serve? Given some study, many of these questions can be answered. The good news for those who pursue these mysteries is that information in cyberspace is continually growing.


Here are notes on Onderdonk, lifted from my database ....

THIS IS A VERY UNUSUAL NAME. ONE ROBERT ONDERDONK IS LISTED IN 1859, HAVING A HOTEL AT 407 GRAND STREET IN NY CITY. HE'S LISTED IN AN 1867 DIRECTORY, SELLING LIQUOR, AT THE HOTEL ADDRESS. ROBERT IS LISTED IN GOULDING'S 1877 CITY DIRECTORY AS AN AGENT (PATENT?), LIVING AT 405 GRAND. HE HAD EXHIBITED HIS LEMON SQUEEZER IN MECHANICS HALL AT THE NY STATE FAIR IN 1879. IN JANUARY OF 1880, ROBERT SUED FOR AN INFRINGEMENT ON HIS LEMON SQUEEZER PATENT. THE CASE WAS INITIALLY DECIDED IN ROBERT'S FAVOR, BUT A SECOND MOTION IN JULY OF 1880 WAS DENIED AS THE DEVICE WAS DEEMED DIFFERENT FROM THAT ORIGINALLY PATENTED BY JOHN FANNING IN JULY OF 1879, PATENT #217,519. HE ALSO CLAIMED PATENT #52,710 FOR AN APPLE SLICER IN 1866; THIS, PER THE SCIENTIFIC AMERICAN. IN 1868 IT IS RECORDED THAT HE WAS INVOLVED IN THE PATENT OF A VARIETY OF KITCHEN UTENSILS LIKE AN ICE PICK, APPLE CORER, AND BREAST DRILL. IN THE 1877 NY CITY DIRECTORY, HE IS LISTED AS HAVING A BILLIARDS HALL AT 608 6TH AVE. THE HARRIS BOOK ON NY SCRIP LISTS SOME OF ONDERDONK'S SCRIP. AN 1878-S TRADE $1 WITH THIS C/S SOLD FOR $737 IN 2019.


Here's an advertisement, touting Onderdonk's lemon squeezer....



There are about six coins, bearing Onderdonk's counterstamp, that have as yet been published. The 1878-S Trade $1 is, so far, the latest date. This issue was listed by Brunk and assigned catalog # O-89.

Below is pictured an 1874 Shield nickel, bearing Onderdonk's mark. I doubt that it would realize nearly as much at auction, as did the Trade dollar. Higher denomination and higher grade, counterstamped host coins tend to elicit greater demand.