(1837) Token HT-32, Illustrious Predecessor

Coin Details

Auction Record

$360 MS63BN 08-20-2019 Stack's Bowers

Description

This 1837 Illustrious Predecessor token is a die variety sharing the same basic design concept as HT-31 but produced from a different die pair. The obverse again depicts a jackass in motion with "I FOLLOW IN THE STEPS OF MY ILLUSTRIOUS PREDECESSOR," while the reverse features the tortoise bearing the Sub-Treasury safe with "EXECUTIVE EXPERIMENT SUB TREASURY 1837 FISCAL AGENT." The specific designation "EXECUTIVE EXPERIMENT" on the reverse of this variety refers to Van Buren's Sub-Treasury or Independent Treasury proposal, which his opponents characterized as a reckless economic experiment with the nation's finances. The Sub-Treasury plan, first proposed in Van Buren's special session message to Congress on September 4, 1837, called for the government to keep its own funds in an independent treasury system rather than depositing them in private banks. Whigs and conservative Democrats opposed the plan as impractical and harmful to the credit system. The die varieties within the Illustrious Predecessor group (HT-31 through HT-33) are distinguished by subtle differences in ear positioning relative to the first "L" in ILLUSTRIOUS, the shape and direction of the tail, and the spacing between hooves and the groundline. These diagnostic features allow collectors and researchers to identify specific die states and production sequences within the series.

Rarity Notes

Common. Die variety with good availability, comparable to HT-31 in marketplace frequency.

Cross References

Low 18; Rulau HT-32; DeWitt CE-1837-4