Owner Comments:
Pictured above, is a 1787 New Jersey Sprig Above Plow, PLURIBS, Large Planchet Copper, graded EF Details - Environmental Damage, by PCGS. Variously categorized as Maris-60p, and W-5340, the piece was formerly part of the Richard August Collection.
The distinguishing characteristic of this scarce die variety is an engraving error that resulted in the word "PLURIBS" in the reverse legend , (which omits the second "U" in what should have read "PLURIBUS"). The "p" reverse is the only copper in the New Jersey series with this error, and was paired with one of 2 different obverses - i.e. either the 60, or the rarer 61 die.
The coin pictured above is an early die state product of the Morristown Mint, using SHI DS1 dies. It weighs 164.3 grains. Despite even granularity exhibited on both sides, the presence of an obverse scratch, and some assorted bruises, this copper's level of detail surpasses most of this variety. The digits in the date are irregularly aligned, with the first 7 high.
The 60-p has a rarity rating of URS-8, with an estimated 65-124 examples extant. The single finest Maris 60-p New Jersey copper is the Brand/Patrick specimen, graded AU 55 by NGC, which sold at a Heritage Auction on 3/17/21 for $32,400.
HISTORY - On 6/1/1786, the New Jersey legislature granted coining privileges to a group of three enterprising individuals: Walter Mould, Albion Cox, and Thomas Goadsby (with the unofficial involvement of Matthias Ogden). They were to produce 3 million copper coins, each composed of 150 grains of pure copper, over a period of two years. The relationship between some of these venturers was contentious from the outset, resulting in litigation, and the evolution of multiple mint sites: in Rahway, Morristown, and Elizabethtown; with connections to out-of-state sites such as New York City (John Bailey), and Machin Mills.
Elements of the coppers' design were taken from the State's seal, attributed to Pierre du Simitiere. Although as many as 144 varieties exist, many very unique, most exhibit common obverse and reverse motifs: The obverse displays a truncated horse's head, in varying styles, usually facing right, with a plow below, and the peripheral inscription "Nova Caesarea", the Latinized name for New Jersey.
The common reverse features a shield in its center, (based on the Great Seal of the US), with the peripheral legend - "E Pluribus Unum", translating into "From Many One" - the first use on a coin of what would ultimately become our national motto.
Many New Jersey coppers were struck over Connecticut coppers, Irish halfpence, counterfeit English halfpence, and others that could be obtained more cheaply than creating planchets from scratch.