1736 Jernegan's Cistern Medal. By John Tanner. Betts-169, Eimer-537, MI III:72. Silver. MS-62 (PCGS).
38.7 mm. A richly toned and handsome piece awash in deep steely-charcoal, copper-russet and pewter-gray. Underlying hairlines are noted for accuracy, but sharp striking detail and a semi-reflective finish provide plenty of appeal. The Jernegan's Cistern was a massive vase of wrought silver that proved impossible to sell and was disposed of by lottery. Some early American coin dealers tried to link this medal to the division of the Colony of Carolina into North and South, no doubt seeking aid in their bid from the inclusion of palmetto trees in the reverse design. In reality, however, the medal had no such intent. Approximately 30,000 examples were produced and distributed to purchasers of lottery tickets, who paid five or six shillings for their entry.