Stack's Bowers & Ponterio
January 2021 Auction 15-16 Jan 2021
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SCOTLAND. Scotland - Mexico. Clackmannanshire. Alloa. 5 Shillings, ND (ca. 1800-20). NGC VG-10; Countermark: XF Strong.
Manville-5; KM-CC1. Issued by John Francis Erskine and Alexander Bald, proprietor and manager of Alloa colliery. Countermark: 5/ at center, circular punch "+Payable at Alloa Colliery", both separate punches, applied to the obverse of a false, most likely produced in Birmingham, 1794-MoFM Mexico bust 8 Reales of Charles IIII(IV). This fairly SCARCE issuer seldom appears on the market; when Manville published his masterful work "Tokens of the Industrial Revolution" in 2001 he was aware of only about 28 survivors of this intriguing issue. The countermark is even and deeply impressed with good definition of the legends on a well-worn host showing nice consistent wear. This rather wholesome problem free survivor exhibits nice surfaces with rich brown patina displaying a few remnants of richly toned silvering adding character to this interesting issuance. Perhaps not as valuable as a silver countermarked token, however it is certainly an important aspect of this complex series sure to add depth to the next collection it enters. Somewhat of an intriguing issue in that nearly all known examples from this proprietor utilized contemporary counterfeit Mexican Dollars, most likely produced in Birmingham, instead of genuine Dollars that were readily available from the silver market. The main purpose that these token coins were issued was so that employers could force their laborers to purchase goods at the company store at exorbitant prices perpetually keeping their employees in debt. Since the Alloa issue is almost entirely made up of False Dollars they would have been virtually worthless anywhere else and would have undoubtedly forced their employees into prolonged servitude.
Estimate: $500.00- $1000.00
Manville-5; KM-CC1. Issued by John Francis Erskine and Alexander Bald, proprietor and manager of Alloa colliery. Countermark: 5/ at center, circular punch "+Payable at Alloa Colliery", both separate punches, applied to the obverse of a false, most likely produced in Birmingham, 1794-MoFM Mexico bust 8 Reales of Charles IIII(IV). This fairly SCARCE issuer seldom appears on the market; when Manville published his masterful work "Tokens of the Industrial Revolution" in 2001 he was aware of only about 28 survivors of this intriguing issue. The countermark is even and deeply impressed with good definition of the legends on a well-worn host showing nice consistent wear. This rather wholesome problem free survivor exhibits nice surfaces with rich brown patina displaying a few remnants of richly toned silvering adding character to this interesting issuance. Perhaps not as valuable as a silver countermarked token, however it is certainly an important aspect of this complex series sure to add depth to the next collection it enters. Somewhat of an intriguing issue in that nearly all known examples from this proprietor utilized contemporary counterfeit Mexican Dollars, most likely produced in Birmingham, instead of genuine Dollars that were readily available from the silver market. The main purpose that these token coins were issued was so that employers could force their laborers to purchase goods at the company store at exorbitant prices perpetually keeping their employees in debt. Since the Alloa issue is almost entirely made up of False Dollars they would have been virtually worthless anywhere else and would have undoubtedly forced their employees into prolonged servitude.
Estimate: $500.00- $1000.00