Owner Comments:
Pictured above is a 1788 Massachusetts Cent, with Period, classified as Ryder 1-D; W-6190, and graded AU 55 by NGC. It once was part of the prestigious Long Island Collection. This particular variety is characterized by its distinctive curved date, with the middle two digits very low and close to the coin's border; and by its peripheral surface roughness resulting from poorly produced planchets. This same roughness appears on many of the best existing specimens. The Massachusetts half cents and cents were the first coins made in the US 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. 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 292,000 - 300,000 Cents.
The design of the Cent 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 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).