(1856-57) Token Miller Calif-1E J.L. Polhemus on Peru 4R

Coin Details

Auction Record

$1,750 VF20 05-27-2022 eBay

Description

John L. Polhemus (born November 15, 1825, Monmouth County, New Jersey; died December 17, 1866) was a druggist at 190 J Street in Sacramento, California, advertising himself as the "Oldest Established Legitimate Druggist" in the city. His distinctive token (Miller Calif-1E) was struck on a Peruvian 4 Reales host coin, making it one of the most unusual pieces in the Miller catalog. Polhemus also counterstamped other coins with his business name; some of these counterstamped coins were recovered from the wreck of the SS Central America, which sank in 1857. The overstrike on South American silver reflects the circulation of foreign coinage in Gold Rush-era California. The brass alloy provided this token with a golden luster that differentiated it from common copper cents. Brass tokens were perceived as slightly more valuable than copper issues, making them more likely to be retained by recipients. Cataloged as Miller Calif-1E. The dies for merchant tokens were typically cut by professional engravers, though some frontier examples show more primitive workmanship.

Rarity Notes

Brass strikings are among the more commonly encountered metal variants for merchant tokens.

Cross References

Miller Calif-1E