(1720) Silver Medal Betts-129, Skill and Bad Luck

Coin Details

Auction Record

$5,040 AU58 08-24-2023 Stack's Bowers

Description

Betts-129 in silver, titled "Skill and Bad Luck," is a satirical medal commenting on John Law's Mississippi Scheme of 1720. The title indicates a mixed verdict on Law himself -- acknowledging his financial ingenuity ("skill") while attributing the scheme's collapse to misfortune rather than fraud ("bad luck"). This interpretation was common among those who recognized Law's genuine innovations in banking and paper currency while lamenting the speculative mania that destroyed his system. Law had introduced revolutionary concepts including a central bank, paper money backed by colonial resources, and joint-stock company financing that were ahead of their time but ultimately overwhelmed by uncontrolled speculation. The silver composition indicates a quality striking intended for serious collectors or officials. Mississippi Bubble satirical medals combine extraordinary artistic creativity with penetrating social commentary, making them among the most intellectually engaging and visually compelling items in the Betts catalog.

Rarity Notes

Silver satirical medal from the Mississippi Bubble series. Scarce and highly collectible.

Cross References

Betts-129; PCGS #922010