| Description |
John Beale Bordley's Extremely Rare 1789 Essay on American Coinage StandardsPhiladelphia: Printed by Daniel Humphreys, in Front-street, near the Drawbridge, 1789. (2), 25, (1) pages; woodcut of a half bushel barrel at the base of page 23. [bound with] B(ordley, John Beale). A Supplement to the Essay on Monies, &c. (Philadelphia, 1790). 7, (1) pages. Two works, bound as one. 8vo, self-covered. Removed from previous binding. Moderate marginal staining in the supplement. Very good. Virtually unknown in modern times until it was reprinted in an appendix of Philip L. Mossman's Money of the American Colonies and Confederation, this extremely rare publication was known to Frederick Mayers, author of "The Literature of American Numismatics," published in Norton's Literary Letter in 1859, and generally regarded as the first overview of American numismatic publications. Mayers wrote, "At the time of the adoption of the Federal Constitution, Washington, Franklin, Jefferson, Hamilton, Rob't Morris, and other of our Revolutionary heroes, took a deep interest in the affairs of the national coinage, and ... a resum� of these and other propositions was given in a small pamphlet published in 1789, entitled 'Monies, Coins, Weights, and Measures proposed for the United States, &c.'" Bordley's essay advocates a decimal system for American coins: "The division of monies of account and coin into tenths is wonderfully convenient," he writes. He goes on to propose a "dollar of 357 grains fine, and 29 grains of alloy" so that it would be equal in value to a "standard Spanish dollar" and "50d. sterling." Sabin 57275 & 93803. This early American rarity was displayed in the Newman Money Museum and retains its exhibition label. Estimate $750. Ex: George F. Kolbe (12/1991); Eric P. Newman Numismatic Education Society.
Heritage Auctions 11/2018 (Newman XI), lot15160 (realized $3840).
Heritage link: http://www.ha.com/c/item.zx?saleNo=1283&lotIdNo=11344 |
