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Colonial Coinage

1787 New Jersey Copper
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1787 New Jersey Copper
NGC F15 BN CAC
Coin ID: RC7651004
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P.O.R - SOLD - 1/23/2014

1787 New Jersey Copper NGC F15 BN CAC. Maris 62-q Large Planchet, Plain Shield. This historic, colonial coin has sufficient detail to warrant a CAC sticker, placing it in the high end of the F15 grade range. All of the devices are clearly outlined, and we see about half of the horse’s mane and the shield’s stripes. The piece is a fairly uniform chocolate brown with a few scattered orange highlights. For the grade, the surfaces are more than acceptable with just a couple of old marks on the obverse. The coin shows a horse’s head above a plough. Sprigs are under the horse and the beam is curved. The obverse inscription is NOVA CAESAREA or New Jersey with the date below. The reverse shows a Union shield above two crossed sprigs with the motto E PLUIRBUS UNUM separated by six-pointed stars. Dentils are around the peripheries of both sides.

New Jersey was founded in 1664 by a Royal Charter and was sometimes called Nova Caesarea. Shillings of Massachusetts and Spanish coins were used in its early days along with English Shillings, which were the primary small change used in the colony. There was much light weight imitation coinage in circulation. In 1787 the governing Council passed a measure that punished those who passed light weight coinage by forfeiting ten times their normal value.

The State of New Jersey established coinage in 1786 by allowing Walter Mould, Thomas Goadsby and Albion Cox, later the first Assayer at the United States Mint, to mint copper coins. The coins had to be 126 grains minimum weight. These men continued to produce this coinage together and then separately until 1788. When the Constitution was adopted in 1789, New Jersey stopped making coins.

In its population report as of March 2011, CAC has confirmed 1 Large Planchet in F15 with 2 better.

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