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Pictured above is a 1787 Massachusetts Half Cent (Ryder variety 1-D) graded AU 50 by PCGS. Massachusetts was the only state ever to issue a half cent denomination; and its cent and half cent were the first coins made in the United States featuring the word "cent", (thereby implementing the Federal government's initiative for decimalization).
During the pre-Federal Constitution Confederation Period, individual states had the right to coin their own money. A handful of states elected to exercise this
prerogative. The Commonwealth of Massachusetts was one such state, but it followed a deviant path. Typically, a state would receive proposals from private groups (franchisees) seeking a license to manufacture coins for that state. Massachusetts had received such proposals, but based on preliminary calculations, many thought that a handsome profit could be made by running its own state mint. (Its Governor, James Bowdoin advised against such a venture, reasoning that the Federal Government was on the verge of coining Fugio coppers, but his advice was not heeded. In October 1786 legislation was passed providing for the production of gold, silver, and copper coins. During the mint's two year operation, in 1787 and 1788, it made some 100,000 - 115,000 half cents, and 292,000 - 300,000 cents. Most dies were fashioned by Joseph Callender, who once apprenticed for Paul Revere. However, eventually his services were discontinued because of his excessive fees. His successor was Jacob Perkins, who later gained fame for his creation of the Washington Funeral Medals of 1800, and for his innovative methods in the production of currency. Perkins dies are distinguishable from those of Callender, by his distinctive more closed "S"es.
The design of the Massachusetts coppers was legislatively mandated: The obverse was to depict the figure of an Indian grasping a bow and arrow with an adjacent 5 pointed star above, (symbolizing Massachusetts as one of the original states).The imagery was similar to that found on the original Massachusetts Bay Colony Seal dating back to 1629. The word "Commonwealth" was split, appearing on the left and right periphery. The reverse shows a spread eagle, with "Massachusetts", the date, and the denomination incused in a shield located on the eagle's breast. An olive branch is clutched in the eagle's left talon, as viewed, while the right holds a bundle of arrows. (The rarest variety features the olive branch and arrows transposed, with the denomination appearing in high relief.)
The Massachusetts coppers, actually heavier than Royal British halfpennies, were the best struck of all state coinages. Because of their high quality planchets, excellent strike, and full weight, they were well received by the public, and circulated freely for several decades.
The Massachusetts legislature's anticipated mint profits never came to fruition. Costs far exceeded original estimates, and ultimately a state audit revealed that each coin cost more than twice its face value to produce. On 11/17/1788, the legislature voted to terminate the mint once the current supply of copper was depleted. Private offers to continue the mint's operations were submitted until it became evident that the new Federal Constitution would preclude future state coinage, (See Article I, Sections 8 and 10).
Massachusetts coinage features numerous die varieties, all with plain edges. Differentiating varieties is often based on subtle differences in placement of the bow, arrows, star, and other design elements. There is a distinctive 1787 horned eagle cent variety resulting from a die break on the top of the eagle's head. Some contemporary counterfeits exist that may have emanated from the Machin Mills mint.