1737 Higley Copper Threepence - Three Hammers, VALVE OF THREE PENCE

Coin Details

Auction Record

$100,050 • VF25 NGC • 05-2014 • Heritage Auctions

Description

Bearing the original denominational legend VALVE OF THREE PENCE (using the Latin V for U), this die combination represents what numismatic tradition identifies as the earliest legend type in the Higley copper series — the version that explicitly declared a monetary value before Dr. Samuel Higley switched to the more famous VALUE ME AS YOU PLEASE wording. Struck from copper mined at the Higley family's private mine near Granby, Connecticut, the coin weighs approximately 9 grams with a 28 mm diameter and plain edge. The Three Hammers reverse depicts three blacksmith's hammers arranged in a triangular pattern. Cataloged as W-8200, Freidus 1.2-A, Breen 239, and Crosby VIII-22, this variety is rated R.6+ with approximately 8-10 examples known. An example graded VF25 by NGC realized $100,050 at Heritage Auctions in May 2014, with PCGS #204 providing population tracking. The VALVE OF THREE PENCE legend is historically significant because it represents the point of contention that allegedly prompted the legend change: local merchants reportedly objected to a private individual assigning a specific monetary value to his copper tokens, leading Higley to adopt the defiant VALUE ME AS YOU PLEASE on subsequent dies. Whether this narrative is strictly accurate or partly apocryphal, the denominational legend does establish that Higley initially intended these pieces to circulate at a declared threepence value — a substantial sum for a copper token in the 1730s and one that likely did provoke skepticism about whether the copper content justified the claimed worth.

Rarity Notes

R.6+. Approximately 8-10 known.

Cross References

W-8200, Freidus 1.2-A, Breen 239, Crosby VIII-22