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 Replies: 45 / Views: 2,749 |
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Pillar of the Community
United States
4347 Posts |
The short answer is because it has a rare counterstamp(s). This is a well documented Confederate merchant's stamp from New Orleans, utilized in the spring of 1862. A dozen or so of these are known to exist. Note that these 1860 cents were redenominated to dimes, given an X c/s on the reverse. The merchant, Schiller, in effect gave these pieces out as IOU's in change. This practice was not uncommon at the time, when coinage was being hoarded.   Here's a comparable specimen, touting the history of this issue. It sold for $1,900 in 2019 .... https://www.civilwartokens.com/Even...il-War-tokenBTW, I just thought I'd amend the trend from COUNTERfeits to COUNTER stamps!  Edited by ExoGuy
10/24/2023 1:49 pm
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Bedrock of the Community
 United States
18720 Posts |
Fantastic acquisition, ExoGuy!
Inordinately fascinated by bits of metal with strange markings and figures
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Bedrock of the Community
United States
59676 Posts |
Very cool!  Errers and Varietys.
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Bedrock of the Community
United States
94367 Posts |
Very interesting, thanks!
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Pillar of the Community
 United States
4347 Posts |
Thanks for the kindly replies, guys. I'd been chasing this c/s issue for 25 years at auction and always came up short. A dealer friend found this one at a reasonable price for me. Schiller also issued some paper scrip at the same time. Still looking for one of those notes, I am!
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Bedrock of the Community
United States
17519 Posts |
The cool side of numismatics...
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Moderator
United States
164329 Posts |
Excellent! |
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Pillar of the Community
 2206 Posts |
Congratulations on the acquisition and thanks for the historical part!
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Pillar of the Community
United States
5492 Posts |
Congrats on crossing one off the list after much chasing.
Love the history behind it as well.
Words of encouragement are one of the major food groups.
We need to consume them regularly to thrive and grow.
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Moderator
United States
33165 Posts |
From the description in the linked auction: Quote:J. B. SCHILLER counterstamped on obverse and X above Cent on the reverse of an 1860 Indian cent. J. B. Schiller, New Orleans Louisiana issued as a ten cent piece during the Union's Naval blockade of New Orleans before it fell on May 1, 1862 thus becoming the United States only known siege money. Schiller, who was a liquor importer and coffee house proprietor, also issued scrip notes dated April 3, 1862 in twenty five and fifty cent denominations and it is probably this token was issued at the same time. @exo, you didn't mention that this was siege coinage. Very cool! "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
United States
4347 Posts |
Quote:
@exo, you didn't mention that this was siege coinage. Very cool! @ Spence .... There exists some controversy over whether there was a military siege at the time. New Orleans was quickly captured with apparently little resistance; this, unlike the battle for Vicksburg. Schiller, himself, was a member of the Confederate paramilitary "home guard" which ultimately proved to be little more than a fraternal organization in effect. True, there was a Union navy blockade, but Confederate blockade runners were often able to bypass these defenses. From what I've read, their British-built steamers were generally sleeker and speedier.
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Bedrock of the Community
United States
13690 Posts |
Very nice, and thanks for the link to the history. Take a look at my other hobby ... http://www.jk-dk.artToo many hobbies .... too much work .... not enough time. |
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Moderator
United States
33165 Posts |
Ah ok, good to know a little more of the history. Thx for helping me learn something!
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
United States
4347 Posts |
@ Spence .... What I love most about the c/s's is that there's so much more as yet to be learned about them. I'm a constant student, myself, and these puzzles help keep me alert .... even in my old age!
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Pillar of the Community
Canada
5045 Posts |
Putting this into context, the high value becomes understandable,
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Pillar of the Community
United States
4347 Posts |
@Oriole .... Yes. This c/s has been accepted by the CWTS, Civil War Token Society, as a Confederate Civil War token. This aspect, cross-collector appeal as such, enhances to its value. The related history is "icing on the cake." All of the previously recorded Civil War merchant tokens were Union, northern, issues.
Schiller was a Confederate merchant. It appears there may soon be a second Confederate merchant c/s to be adopted as a CW token. When/if this happens, I'll post a new CCF thread on it.
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Replies: 45 / Views: 2,749 |
Posted 10/24/2023 2:24 pm
