LONG BEACH, Calif. — A coin experts are hailing as the first made by the United States will be displayed during the 2017 Long Beach Coin, Currency, Stamp and Sports Collectible Expo. The Expo(www.longbeachexpo.com) will be held Sept. 7- 9. In August, the coin's inaugural showing took place during the World’s Fair of Money. This marks the first public West Coast appearance for the coin, which is now insured for $5 million.
Evidence Points to Coin Being First
According to researcher David McCarthy of Kagin’s, Inc., there is overwhelming evidence that this is the very first coin officially struck by authority of the United States government. It's a finding hailed by renowned coin expert and author Jeff Garrett as “one of the most exciting developments in modern numismatics.”
The coin is the “Plain Obverse Nova Constellatio Quint.” It's said to have been in the possession of Founding Father Alexander Hamilton. It predates very coin in the Western world using a decimal monetary system, according to McCarthy.
“Although the coin was discovered in 1870, it was misattributed. We now have compelling evidence that it is, ‘the first that has been struck as an American coin.’ As described in the April 2, 1783 diary entry of Founding Father Robert Morris. He was the government’s first Superintendent of Finance and a signer of the Declaration of Independence,” stated McCarthy.
U.S. Treasury Authorizes Minting in 1783
“The Quint and a subsequent set of coins were created in Philadelphia in April of 1783. Under
authority of the Treasury some nine years before the next coins would be struck by the U.S. government. It would have been valued at 500-units in a proposed system that would range from 5 to 1,000 units,” McCarthy explained.
During the 18th Century, several states and private individuals manufactured coins. However, this is the first coin that was struck and paid for by the U.S. government. This is according to McCarthy’s research, which more than a dozen other early American coin experts support.
Following the Civil War, the coin surfaced in New York City. It passed through the hands of some of the 19th Century’s greatest collectors before entering the possession of Johns Hopkins University. The University kept the coin until 1979.
Coin's Legacy Tied to Founding Fathers
Kagin’s acquired the coin at an auction in 2013. McCarthy began researching it through the Journals
of Continental Congress. As well as the writings of Founding Fathers Robert Morris and Thomas Jefferson, and forensic evidence on the coin.
Admission is $8 for adults, $4 for seniors and children aged 8 to 16; however, free admission coupons are available in advance with promo code: EXPOPR on www.LongBeachExpo.com.
For additional information, visit www.LongBeachExpo.com, call 888-743-9316 or email LBExpo@collectors.com.