Owner Comments:
Pictured above is a 1766 Pitt Farthing graded VF 20 by PCGS. It has been variously classified as: Betts 520, Breen 248, and W-8345. Despite displaying the porous and rough surfaces characteristic of these farthings, this commemorative medalet has appeared in a succession of notable collections, including: the Norweb Collection, David Bruce Collection, Sydney F. Martin Collection, and the James Blake Collection.
Colonial Researcher, Christopher R. McDowell has compiled a consensus of all known Pitt Farthings. The subject piece has been ranked 24th among a scant total of 27. Some have characterized this medalet as unique in that virtually all of the farthings are of a brass or yellow-bronze alloy, while this example was struck in copper or an alloy resembling copper. The farthings were struck on thicker cast planchets than their more plentiful halfpence counterparts, and display plain edges. They seem less likely to have circulated in colonial America then the well-worn Pitt Halfpence.
HISTORY: During the colonial period, England engaged in the costly French and Indian Wars. In 1765, parliament sought to defray its burdensome debts by imposing a system of stamp tariffs on the American colonies. The Act required that various literary materials such as newspapers, almanacs, pamphlets, and legal documents be printed on paper produced in London, subject to a tax, and carrying an embrossed revenue stamp.
The colonists were predictably incensed by the passage of the Stamp Act. In addition to being financially burdensome, it was viewed as a repression of freedoms.
Fortunately, the colonists had a powerful sympathetic ear in England. William Pitt, a prominent British statesman, who ultimately became the country's Prime Minister, actively sought repeal of the Stamp Act. He viewed the Act as an impediment to trade, and an improper exercise of Britain's powers of taxation. Pitt's actions in defense of the colonies elevated him to hero status. In appreciation of Pitt's efforts, statues were erected honoring him, and at least 19 places in America were named after him - i.e. Pittsburgh. The creation of the Pitt tokens dated 1766, in farthing and halfpence sizes, was just another manifestation of the esteem in which Pitt was held.
The obverse of the farthings depict a portrait of the elder William Pitt, bedecked in a wig, with the following peripheral legend: 'The Restorer Of Commerce 1766 No Stamps." The reverse features a masted ship, headed to America, with a lion figurehead on the bow. The peripheral wording reads: "Thanks To The Friends Of Liberty And Trade."
The major unanswered questions regarding the Pitt Tokens relate to their location of production, and by whom.