1817 James Monroe Indian Peace Medal. Silver. Second Size. Julian IP-9, Prucha-41. Very Choice Extremely Fine.

62.9 mm. 1487.3 grains. Pierced for suspension, as typical, and in the exact same position relative to the obverse design as on all others seen. A beautifully preserved example retaining generous prooflike reflectivity in the fields, particularly on the reverse where they are more protected by the design elements. Light to medium gray silver is awash with rich rose and blue-green on the obverse while the reverse is even more colorful, with the addition of violet and deep gold. Close inspection reveals numerous scattered small nicks, fine scratches and tiny rim bumps, all markers of a history that included official distribution and Native American wear, though that wear was clearly not harsh and perhaps points to a recipient of advanced age. There is obvious wear and distortion of the suspension hole, however, so we know it was suspended for a time. Carl Carlson accounted for 18 auction records of silver second-size Monroe medals, without attempting to count individual specimens. In his cataloging of three examples in the extensive John J. Ford, Jr. Collection, Michael Hodder noted that he was aware of nearly a dozen individual medals. The present writer's recent survey work has accounted for 14 examples, with only one of them remaining unconfirmed by photographic evidence to date. Of these, five are in institutional collections. Though the Ford Collection freed up three examples, this medal is one of just two we have handled in a decade without the Ford provenance. The two that have appeared in the last year are an anomaly and falsely suggest that these medals are more common than they are. This has been off the market since our October 1982 sale of the New York Public Library Collection and just nine are known in private hands. The original Mint records report that 100 of these were struck, but only 12 had been distributed by the time the Office of Indian Trade (the keeper of the medals) was closed in 1822. It was reported that the 88 remaining medals were transferred to the War Department at that time, and some have taken that to mean those were melted. This is impossible given the number of medals known today. It would be the end of 1825 before the next series of medals was delivered for use in matters of Native American diplomacy, which likely explains how more were saved from the melt. Most likely a few more were distributed slowly, as needed.

From the E Pluribus Unum Collection. Earlier from our (Bowers and Ruddy's) New York Public Library Collection Sale, October 1982, lot 2615.