Undated (ca. 1855-1860) Hawaii Plantation Token. John T. Waterhouse. Medcalf-Russell 2TE-1. MS-61 (PCGS).

This token offers almost unheard of quality for an elusive Hawaii issue that can be challenging to locate even in attractive circulated preservation. Struck in soft pewter, most examples are lightly defined at the central high points, and virtually all acquired unusually rapid wear from commercial use. Here, however, we note bold to sharp definition to features that escaped the rigors of commercial use. The surfaces are bright silver-gray with exceptional luster quality. Wispy handling marks are noted, but they do little more than define the MS-61 grade assigned by PCGS. This is the earliest known Hawaiian token, issued by the firm of John T. Waterhouse in Honolulu circa 1855 to 1860. Uncirculated survivors are of the utmost rarity and, indeed, this is one of only four such pieces to have received a Mint State rating from PCGS. It is also the first Mint State example of the type that we have offered in recent decades. An extraordinary condition rarity fit for inclusion in the finest specialized cabinet.

PCGS# 600500.

PCGS Population: 2; 2 finer (MS-63+ finest).

Estimate: $ 12000