Baltimore Banker's Unique Coin Sparks Reward Search A $5,000 finder's fee reward is being offered by Kagin's, Inc. for confirmation of a second example of a gold coin with the genuine hallmark of early American silversmith, Standish Barry, of Baltimore
News-Antique.com - Aug 03,2008 - (Baltimore, Maryland) -- The significance of a unique, recently-revealed gold coin owned for decades by a Baltimore banker has generated a finder's reward hunt for similar examples.
The coin, believed to be one of the first gold coins made in the United States, is dated 1735 and resembles a doubloon (gold 8 escudos denomination) from Lima, Peru. It bears two hallmarks used on silverware produced by 18th century Baltimore silversmith, Standish Barry.
A $5,000 finder's fee reward is being offered for confirmation of the second known gold coin with a genuine counter-mark, and $1,000 for a silver coin with Barry's genuine hallmark.
"The coin was acquired in 1942 by Baltimore banker, Louis E. Eliasberg Sr., whose legendary collection earned him the nickname, the King of Coins. Although most of his collection was sold over the years after his death in 1976, this unique coin was not known to exist until it came out of the vault for an auction in 2005 and its early Americana importance was recognized," said the current owner of the coin, collector and dealer, Donald H. Kagin, Ph.D. of Kagin's, Inc. in Tiburon, California.
"It's the only known coin counter-marked by silversmith Barry. I think there may be others, but perhaps the coins’ owners don't recognize Barry's hallmarks," explained Kagin who announced the rewards while exhibiting the so-far unique South American-style imitation coin at the Baltimore Convention Center as part of the recent American Numismatic Association World's Fair of Money, July 30 - August 3, 2008.
Described at the time of the 2005 action as "a highlight of the Eliasberg collection," it has two, identical "SB" counter-stamps, the same oval-shaped hallmark design as found on various early American silverware produced in Barry's Baltimore workshop.
"The doubloon, which is believed to have been made by Barry in Baltimore at sometime around 1790, is currently the only coin we know that was counter-marked by him. There are a small number of 1790-dated Standish Barry three-pence pieces known, but those are not counter-marked," explained David McCarthy, Kagin's Senior Numismatist and Researcher.
"We will pay $5,000 just to be the first to see the first, new, authentic Standish Barry-countermarked gold coin, and $1,000 per additional piece for that may turn up. We also will pay $1,000 for the first, genuine silver countermarked piece, and $500 for additional one," said McCarthy.
For additional information, contact Kagin's, Inc., 98 Main St., Suite 201, Tiburon, California 94920. Phone: (415) 435-2601. Online: www.Kagins.com