Undated (ca. 1867) Washington Bust / Jefferson Bust Muling. By John Adams Bolen. Musante JAB M-9. Copper. Marked "B 5" on Edge. MS-64 BN (PCGS).
25.4 mm. 161.5 grains. Exceptional aesthetic appeal due to the intense blue, violet and rose mottling on both sides. A bit of faded orange remains, adding to the appeal. Sharply struck on a fairly thick flan with reflective prooflike fields and sharp rims. A few faint die finishing lines are noted in the fields, as made, but there is little to mention in terms of handling. This is a beautifully preserved medal that had clearly been little disturbed since Bolen placed it in his custom collector's boards, shortly after he struck it. The Washington die is very fresh in appearance. Similarly, the Jefferson die is also in the earliest observed state, with a thin die line passing through the letter O in JEFFERSON. There can be no question that this early die state is from Bolen's own shop, though J.W. Kline, who acquired the dies in 1872 is not known to have struck additional pieces in copper, anyway. We have offered medals from these dies a few times over the last decade or so, virtually all of which have been in white metal, and likely issues of Kline. Musante was missing this type completely in his collection and noted in his book that he had not seen an example. Indeed, the plate in the reference is a composite image, and he found no auction appearances. As with others in the series of mules offered here, one might wonder if the five struck should be taken today as an aggressive estimate of those actually extant. This one, from Bolen's reference collection, is the prize of them all, even if all four others believed struck should eventually turn up.
From the Martin Logies Collection. Earlier ex personal reference collection of John Adams Bolen; our sale of the E Pluribus Unum Collection, Part III, November 2021 Baltimore Auction, lot 10258.

Estimate: $2000