1652 Pine Tree Shilling. Large Planchet. Noe-1, Salmon 1-A, W-690. Rarity-2. Pellets at Trunk. EF-45 (PCGS).

70.5 grains. This example offers superior EF quality for the iconic N-1 variety in the Massachusetts Bay Colony silver series. Wonderfully original, both sides exhibit warm, even steel and olive-gray patina with subtle blue-gray undertones. The texture is frosty, smooth and free of detracting marks. The planchet is irregular in shape with several prominent straight clips around the border, but the strike is generally well centered with virtually all design elements boldly rendered. Softness is minimal, in fact, and confined to the lower obverse border where the letter M in MASATHVSETS is weak. The outer border beads from 3 to 7 o'clock on that side are off the flan, typical of the variety. The reverse is better centered, also characteristic, and missing the outer border beads only at 7 and 11 o'clock. Struck from an advance state of the dies, the obverse exhibits clash marks from the denomination in the field below the tree's roots, reverse with prominent breaks at the top of the digits 16 in the date, at the letter N in AN, and at the upper left corner of the letter D in DOM. This is not the latest known state of this variety, however, as the reverse breaks would eventually expand to a significant extent. However "classic" is defined, the Noe-1 Pine Tree shilling is American numismatics' hallmark example of the phenomenon. A collector in 1840 would have been just as excited to own this coin as one is today, and this would be just as appreciated in a museum as at a coin club meeting. While attractive, problem free Noe-1 Pine Tree shillings are not common by any means - far from it, in fact - this coin's prime desirability does not rest upon its rarity. Instead, it is the essential distillation of everything desirable about an early American coin: an antique appearance, a great backstory, a recognizable design, all deliverable to anyone who aspires to collect such things. While nearly any collector can own a Pine Tree shilling, relatively few ever obtain one of this sort of quality and eye appeal. Sure to see spirited bidding among discerning numismatists.

PCGS# 800852.

From the Q. David Bowers Collection.