(1701) John Law / Credit Is As Dead As A Rat Medal. Betts-115 var, Adams S-9. Silver. AU Details--Scratch (PCGS).
26.3 mm. 111.6 grains. Attractive silver gray with variegated undertones and a good deal of remaining luster, particularly at the peripheries. A notable scrape is seen the obverse, above the head of the prostrate man. Another short scratch is seen inside the obverse rim near 12 o'clock, and both sides show a wide scattering of small contact marks. The obverse of this popular medal 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." 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 Joe Foster Collection. Earlier ex John W. Adams, June 2018.

Estimate: $1500