(1835) Token HT-347B, Troy on 1774 2 Reales NY

Coin Details

Auction Record

$11,750 MS67* 02-03-2014 Heritage Auctions

Description

This 1835 token is a counterstamped variety in the O. & P. Boutwell series from Troy, New York, struck on a 1774 Spanish 2 Reales host coin. The Boutwell bakery and confectionery at 7 Grand Division Street is documented through this overstrike, which was created by impressing the Boutwell advertising die onto an existing Spanish colonial silver coin. Such overstruck tokens combined the intrinsic silver value of the host coin with the advertising message of the merchant. Counterstamped Hard Times tokens on foreign coin hosts are a specialized collecting area within the broader series. Spanish 2 Reales coins circulated widely in early America and were available for use as token host planchets. The choice of a silver host coin gave the finished piece a higher intrinsic value than a standard copper token, though whether this was intentional or simply a matter of planchet availability is unclear. Oliver and Phardice Boutwell's bakery was a small but established business in Troy's commercial district. The counterstamped variety adds an exotic dimension to what is otherwise a straightforward single-variety merchant token program.

Rarity Notes

Rare. Counterstamp on 1774 2 Reales host. Rarity R-5 to R-6.

Cross References

Rulau HT-347B