| Description: |
J. L. Polhemus countermark. Pale silver gray with even, moderate corrosion that allows
most of the details to remain bold. Some minor dark deposits on the reverse, good eye
appeal, every single character of the famous and important Polhemus countermark remains
bold. The countermark is present on the obverse with an alignment directly opposite that
of the coin – in other words, it’s upside down. No raised corrosion is present, and
both sides are better preserved than many of the coins in this unique
offering.Counterstamped half dollars bearing the J.L. Polhemus mark, in real terms, are
not terribly scarce – they actually seem to be the medium of choice for his coin-based
advertising. Of course, Polhemus countermarked whatever came through his till, from dimes
and quarters to a 1776 Mexican 1 real coin and a thaler from Saxony. The most famous
pieces bearing his mark are two double eagles – both San Francisco Mint products. An
1857-S $20 was brought to market over a decade ago, and for many years held the record for
a counterstamped coin sold at auction (unless one counts the Dexter 1804 dollar, which
bore a tiny D mark in a cloud, probably placed by a later owner named Dunham). The other
J.L. Polhemus mark on a $20 was found aboard the S.S. Central America, an 1855-S coin
included in the December 2000 Christie’s sale that the present cataloguer (JK) had the
privilege to describe for that auction. This half dollar is the only other Polhemus
countermark found aboard the Ship of Gold.Polhemus advertised his place of business, a
drugstore, with a large mortar and pestle posted out front which was identical to the one
seen on the second line of his five-line prepared stamp. He arrived in Sacramento in 1849
and opened his pharmacy in 1850, bringing in customers with traditional and nontraditional
advertising methods, in addition to promotions like all-night shopping. Only one other
countermark appeared among the S.S. Central America treasure, a gold piece marked by
dentist and assayer W.W. Light which was also sold in the 2000 Christie’s sale. We do
not expect any others to appear on the market in the future.For those interested in pieces
from Gold Rush-era California, and the merchant personalities of that period, the appeal
of this coin is clear. Most collectors of countermarks revel in the fact that a
counterstamped coin can be placed in a given location in a given period, but this piece
can not only be placed in Sacramento between 1850 and 1857 but its whereabouts from then
forward are also known. The sale of this coin at public auction is a mere punctuation mark
in its unbroken history, a story which opens a new chapter once it finds a place in its
first-ever numismatic cabinet. |
