"1797" (ca. 1858) Sansom Medal. Presidency Relinquished. Original Dies. Late impression. Musante GW-58, Baker-71, Julian PR-1. Silver. MS-64 (PCGS).
40.6 mm. 552.0 grains. Medium to deep gray silver is complemented by subtle blue, green, rose and gold iridescence through the prooflike fields creating a very pleasing aesthetic. A trace of handling has resulted in the emergence of lighter silver accents on the highest points of relief on both sides. Though the prooflike fields reveal some faint lines, there are no marks that can be called out individually. This is a beautifully cared for medal and it is very rare in silver. These medals, part of Joseph Sansom's "History of the Revolution" series, were originally struck circa 1807. Joseph Sansom presented an example of this medal in silver to President Thomas Jefferson on March 25, 1807, and the letter that accompanied it still survives. It read, in part, as follows: "Respected friend, I beg leave to inclose [sic], for thy acceptance, a silver medal upon the retirement of Washington, which I flatter myself will meet thy approbation, as it has been executed by Reich-the head from a drawing of Stuart." This was a follow-up on the part of Sansom who had earlier presented Jefferson a silver example of the C.C.A.U.S. medal, for which he had an encouraging reply from Jefferson, who was himself a medal collector. Sansom later sent Jefferson a silver example of "a medal of Franklin," which was almost certainly that with the American Beaver reverse. Though the medals were struck as early as 1807, they proved popular, and the Mint continued to strike them for collectors for some years after, even replacing the original dies around 1858 with new ones to continue striking. The medal offered here reveals, in struck silver, the reason for the replacement. The dies had become rusted and/or spalled, seen on both sides of this medal in the form of raised roughness. The earliest auction appearance we are aware of for this late-state variant in silver was in the October 1864 Woodward sale, where he described one as, "the same medal [as the previous lot], in silver, struck from the original dies when rusty, thick planchet." It sold to J. Osborn Emery for $4.50. This is a very rare medal in silver in either early or late state, but especially so as a late impression. It has been more than five years since we have handled one, the last being the very similar Baker specimen in November 2019. This example, from the Stearns Collection, has probably not been offered publicly for more than a century and could well have been purchased directly from the Mint by Charles Stearns at the time of issue.
From the Richard August Collection. Earlier from the Charles H. Stearns Collection (1820-1904); Clinton H. Stearns (1861-1936), by descent; George M. Stearns, by descent; Mayflower Coin Auctions, privately, following the C.H. Stearns sale of December 1966.

Estimate: $12000