Owner Comments:
During the Confederation Period, a handful of states elected to authorize franchisees to coin money for them, or in the case of Massachusetts, chose to implement its own state run mint. In New York State, a few high profile individuals sought such authorization through petitions, among them being Ephraim Brasher (who fashioned the famous doubloon) and his partner John Bailey, both of New York City; as well as Captain Thomas Machin.
Some preliminary dies were prepared to facilitate state approval, exhibiting characteristics that would make them palatable to the commercial public - i.e. they incorporated devices (busts), and symbolic effigies (Liberty and Britannia), that had succeeded on contemporary Connecticut and British coppers. Ultimately, New York State elected to regulate exising coinage already in circulation, rather than retain any franchisees to produce new coins. Legislation that took effect 8/1/1787, implemented fines against those who passed underweight coppers, and even more stringently, made the counterfeiting of silver and gold coins an offense punishable by death. All this did not deter private entrepreneurs from producing unauthorized coppers exhibiting legends using the New York State name (in Latin), and symbolism, such as that shown on the official state seal. Among these rogue New York coins were the Nova Eboracs; the Excelsior pieces, exhibiting elements of the New York State Seal on the obverse, and an eagle with the same head and letter punches as on the Brasher Doubloon; the Standing Indian; George Clinton; Non Vi Virtute Vici, displaying a likeness of Washington; and Immunis Columbia.
Although scarce, the most plentiful of the unauthorized New York emissions are the Nova Eborac coppers, all dated 1787. Nova Eborac is a shortening of Nova Eboracus, the Latinization of New York.
The Nova Eboracs coppers come in four basic types, the large bust; the most common medium bust with reverse effigy facing left; the medium bust with reverse effigy facing right; and the rarest small bust.
Pictured above, is a 1787 Nova Eborac copper, whose reverse features a seated figure facing left, and graded AU 50 by PCGS. It carries a W-5755 and Breen 986 designation. The seated effigy holds a sprig in one hand, and a liberty cap on a pole in the other. The abbreviated peripheral legend translates into virtue/(strength) and liberty. The letter punches are the same as those used on the Brasher Doubloon, confirming the attribution to Brasher/Bailey. This piece sports a rarity rating of URS-10, meaning an estmated surviving population of 250-499. PCGS has slabbed a total of 173 of this variety, of which 3 carry a plus designation. NGC has graded 41, with the highest being a MS 66 specimen. One high end (NGC MS 64+) Red/Brown example exists.
Most Nova Eboracs exhibit extensive wear, testifying to their extensive circulation.