1701 John Law / Credit Is As Dead As A Rat Medal. Betts-115 var, Adams S-8. Silver. AU-53 (PCGS).
26.3 mm. A very pleasing example of this popular John Law associated medal. The obverse depicts, as described by John Adams, "a man [lying] face down on the ground, in his left hand a briefcase marked WEXEL ('exchange') and in his right hand a caduceus," the symbol of commerce. The reverse shows "a waist-length figure of a man in cocked hat" from behind, facing away. The obverse legend translates as "credit is as dead as a rat," the reverse is "bankruptcy is the fashion." The surfaces are pleasing antique gray with toning highlights of pastel blue and subtle violet. Some scattered marks are seen, as well as a natural flaw inside the reverse rim near 4 o'clock, but the signs of handling and few trivial scratches are ancient and blend into the patina on both sides. As described by Adams, previous authors on John Law medals dismissed the 1701 date of this medal, seemingly incredulous that such a theme might not relate directly to Law. Indeed, this medal really was produced in 1701 and refers to some other credit contraction in Europe in that era.
From the Skyler Liechty Collection. Earlier ex Henry Christensen's sale of September 1967, lot 291; John J. Ford, Jr.; our (Stack's) sale of the John J. Ford, Jr. Collection, Part XIII, January 2006, lot 583. Stack's lot tag and collector envelope with attribution and provenance notes included.

Estimate: $500