(1720) Silver Medal Betts-115var, Credit is Dead

Coin Details

Auction Record

$2,280 AU53 08-24-2023 Stack's Bowers

Description

This silver medal, Betts-115 variant, commemorates the Mississippi Bubble collapse with the satirical theme "Credit is Dead" around 1720. The Mississippi Bubble was one of the earliest and most spectacular financial crises in modern history, ruining investors across Europe and devastating the French economy. Satirical medals mocking John Law and the speculation mania were produced in large numbers, particularly in the Netherlands, where the financial disaster was viewed with a mixture of schadenfreude and concern. The medallic record of colonial America provides evidence that standard historical accounts sometimes overlook, documenting diplomatic encounters, treaty negotiations, and military engagements through the perspectives of the participating European powers. This medal's "Credit is Dead" inscription captures the bitter aftermath of the bubble's collapse, when fortunes built on paper speculation evaporated overnight and public trust in financial innovation was shattered for a generation.

Rarity Notes

Rare. Satirical Mississippi Bubble medals are highly collectible.

Cross References

Betts-115var