Owner Comments:
Although the prices to not reflect it, the Massachusetts Pine Tree 3 and 6 pence coins are much scarcer than the large planchet Pine Tree shillings, which were produced during the same period. Using die varieties as a guide there are three known varieties of the 3 pence and two varieties of the 6 pence. In contrast there are 11 known varieties of the large planchet Pine Tree shillings. The combined rarity estimates of the shillings versus the smaller coins show that the shillings are much more common.
The 3 and 6 pence pieces bring about the same prices as the shilling because of supply and demand. Although the supply of the smaller coins is much smaller, the demand for them is lower also. Therefore one can expect to pay about the same amount for the 3 and 6 pence coins in the same grade as you would be a shilling.
The reason for the small number of low denomination pieces had to do with the way mint master John Hull was paid for producing these pieces. When Hull received silver from a depositor who was looking to have his metal converted into Massachusetts silver coins, Hull was allowed to keep just over 6% of the face value of the coins he produced to cover his costs and profit margins. It was more economical for Hull to produce shillings because he could produce fewer coins and make greater profits.
The Pine Tree 6 pence shown above is a Noe variety #33. This is the most common variety among all of the Massachusetts 6 pence pieces. Like the vast majority of Noe #33 pieces that are known, the obverse is off-center. This due to the way the rocker press, which was used to strike these coins, was set up at the time that they were made.