John Chalmers Shilling

1783 John Chalmers Shilling. W-1790. Rarity-4. Birds, Long Worm. Fine-15 (PCGS).

48.8 grains. Silvery tan surfaces that are satisfyingly original as well as remarkably problem-free. Some weakness of strike, common for the type, affects the left half of the central motifs and portions of the legends, yet the vast majority of the letters are legible and the important birds and worm detail on the obverse is plain. Coins of this type are attributed to John Chalmers, a goldsmith and silversmith in Annapolis, Maryland. Chalmers issued these coins to prevent some of the abusive practices associated with fractional parts of the Spanish dollar, those being the most widely used coins in the early United States. While it was customary at the time to cut Spanish dollars into halves, quarters and eighths, unscrupulous persons would attempt to make a profit by cutting five "quarters" or nine or ten "eighths" out of one coin. Chalmers' solution to this problem was to redeem various fractional parts in exchange for his own coins, charging a commission for this service. Examples were produced in threepence, sixpence and shilling denominations, the dies engraved by Thomas Sparrow, if not by Chalmers himself, and the coins struck at a building at the corner of Fleet and Cornhill streets in Annapolis. Given that several hundred Chalmers pieces are known today, and that most display significant wear from extensive commercial use, the issue appears to have been well received by the contemporary public and widely used in commerce. In an absolute sense, of course, all Chalmers coins are rare irrespective of denomination or variety. Those most often seen are shillings of the bird type, the long worm variant offered here perhaps slightly scarcer than its short worm counterpart.

PCGS# 595.

From the Norman G. Peters Collection.

Estimate: 1800