Owner Comments:
During the Confederation Period, a handful of states elected to authorize franchisees to coin money for them, or in the case of Massachusetts, chose to implement its own state run mint. In New York State, a few high profile individuals sought such authorization through petitions, among them being Ephraim Brasher (who fashioned the famous doubloon) and his partner John Bailey, both of New York City; and Captain Thomas Machin.
Some preliminary dies were prepared to facilitate state approval, exhibiting characteristics that would make them palatable to the commercial public - i.e. they incorporated devices (busts), and symbolic effigies (Liberty and Britannia), that had succeeded on contemporary Connecticut and British coppers. Ultimately, New York State elected to regulate existing coinage already in circulation, rather than retain any franchisees to produce coins. Legislation that took effect 8/1/1787, implemented fines against those who passed underweight coppers, and even more stringently, made the counterfeiting of silver and gold coins an offense punishable by death. All this did not deter private entrepreneurs from producing unauthorized coppers exhibiting legends using the New York State name (in Latin), and symbolism, such as that shown on the official state seal. Among these rogue New York coins were the Nova Eboracs; the Excelsior pieces, exhibiting elements of the New York State Seal on the obverse, and an eagle with the same head and letter punches as on the Brasher Doubloon; the Standing Indian; George Clinton; Non Vi Virtute Vici, displaying a likeness of Washington; and the Immunis Columbia.
Although scarce, the most plentiful of the unauthorized New York emissions were the Nova Eborac coppers, all dated 1787. Nova Eborac is a shortening of Nova Eboracus, the Latinization of New York.
The Nova Eborac coppers came in four basic types, the large bust; the medium bust with reverse effigy facing left; the medium bust with reverse effigy facing right; and the small bust.
Pictured above is a 1787 Nova Eborac figure facing right, graded XF 45 BN by NGC. It carries a W 5760, and Breen 987 designation. It is obviously a mint error, with an obverse misalignment resulting in half the word Eborac being absent from the final product. The reverse features a seated figure holding a sprig in one hand, and a liberty cap on a pole in the other. The abbreviated peripheral legend stands for virtue/strength and liberty. The letter punches are the same as those used on the Brasher Doubloon, confirming the attribution to Brasher/ Bailey. The pictured coin is of a late die state, and as such, exhibits a sizable die crack on the reverse border at 4:30 across from Liberty's left leg. The cinquefoil in the vicinity displays resulting weakness. Most Nova Eboracs exhibit extensive wear, testifying to their extensive circulation.