1766 Pitt Farthing - PCGS Genuine Not Gradable

Hi, everyone. I must apologize in advance. I generally don't post on a forum, unless I have some knowledge to offer. Unfortunately, I know nothing about coins. I only collect guitars!

I was recently going through some old boxes, and I found a small bag of coins that my grandfather gave me when I was a kid. I was able to research and identify them, and all but one turned out to be quite common. I found out that the sole interesting coin was a Pitt token of some kind, so I sent it to be verified and graded by PCGS. As you can see from the photos, they have marked it as a 1766 Genuine Pitt Farth, Not Gradable. And, as I understand it, the "97" indicates environmental damage, meaning the coin was likely buried for a while.

I have searched the internet for more information on Pitt Farthings, and haven't come up with much. It seems they're rare, especially compared to the Pitt half-pennies. I've also read that most known examples are hole-punched.

My amateur research suggests that these farthings were often used as burial coins. I was born and raised here in Savannah, GA, and I like to think that this particular coin was placed on a dead man's eyes close to 250 years ago. Maybe he was a plantation owner, or a gentleman pirate. Imagining this, I can see the allure of coin collecting! Is it a coincidence that my favorite movie is The Goonies?

Anyway, I would appreciate as much information as possible about my Pitt Farthing. I'm pretty sure it's made of copper. Aside from that, and what little information I've provided, I'm ignorant. I'm not even sure what the difference is between a farthing and a half-penny. Size? Face value?

I'm also curious, of course, about the coin's market value. Since it does not meet PCGS's grading standard, how much dollar value should assign to it? I was not able to find any standard with which to compare it.

Thanks for reading, and I hope some of you experts can enlighten me.

 

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That's quite a find OldShutEye, as Pitt tokens in both farthing and halfpenny denominations are very rare. Walter Breen notes that there are only 6-8 examples known of the 1766 farthings in brass (probably what you have). There are also examples known struck in silver and tin...probably tin-plated. The 1766 halfpennies are also known in copper, brass, silver, and tin (again, probably plated or silvered). The engraving for these pieces was done by James Smither a Philadelphia sinker, formerly an English gunsmith who arrived in this coutry in 1768. Supposedly Paul Revere provided design sketches for the tokens but that seems more conjecture than fact from what I can see.
While I do have a familiarity with colonial issues, I'm not an expert. There are several on this forum who are, and I suspect they will weigh in with more information than I can give you. Nevertheless, you have a very interesting and historical piece despite its poor condition. I'm looking forward to hearing more from other members as well.

Bruce

 

Thanks, Bruce. That's really great information. I'd like to believe that, in addition to being buried with a plantation owner/pirate, the coin was also designed by Paul Revere!

 

The farthing is apparently much rarer than the halfpenny, so you're fortunate to have that denomination. I have no idea as to value, but I would think it still has substantial worth to a serious collector of colonial issues.Do you have any idea as to where your grandfather got this token (these are actually considered medalets by some, but it's a minor difference)? It appears to have been dug, but it's hard to tell from your pictures. Great piece OldShutEye. Oh and by the way, it's good to have you here on CT.

Bruce

 

Unfortunately, my grandfather has passed, so I have no idea where he got it. He owned a package shop here in Savannah for many years, and had a lot of cash and coin moving through there. Someone probably traded it to him for a fifth of sour mash!

 

Wow that is a great story and an excellent find. My favorite movie is Goonies as well so I could feel your excitement just from reading your post! I really know nothing about your coin other then what is in the 2011 Redbook - here is what they say about it:

"William Pitt, the British politician who endeared himself to America, is the subject of these pieces, probably intended as commemorative medalets. The so-called halfpenny served as currency during a shortage of regular coinage. The reverse legend (THANKS TO THE FRIENDS OF LIBERTY AND TRADE) refers to Pitt's efforts to have the Stamp Act repealed. The Pitt farthing-size tokens, struck in brass or copper, are rare."

The Redbook also lists the 1766 Farthing at a value of $4000 in G4 condition. There are many many different factors to consider regarding a value though, even though your coin is not gradeable and would probably grade a G2~, it could be worth more simply due to the rarity. After all there can't be that many out there!

Thanks for sharing and welcome to Cointalk!!
J

 

Thanks for the info, J. I wonder how to tell if it's made of brass or copper. Are the differences easy to spot? You can tell I know nothing about coins OR metals.

One cool thing I can add . . . I have a prop doubloon from The Goonies. It's supposedly one of the many prop coins used in the background of shots aboard One Eyed Willie's ship, The Inferno. It was certified by a Hollywood propmaster, although it's the sort of item whose provenance is nearly impossible to verify.

 

Haha that is AWESOME! I never thought of finding one of those for my collection but now I have a new mission!

 

Interesting post and quite an amazing find!

About all that I can add is that a half penny is worth half of a penny (duh) and a farthing is worth a quarter of a penny.

I collect old guitars too. While not vintage here is a nice Gibson ES-135...

 

Brass and copper are usually relatively easy to identify. Brass will have a yellowish tint to it as oppossed to a strictly coppery or brown color. Yours might be a bit harder to identify because of its condition though. It sounds like your grandfather got the better part of the deal. The sour mash is long gone, but Mr. Pitt is still with you.

Bruce

 

Someone at the C4 might be able to provide you with the information you seek. ColonialCoins.Org.

 

Good source OldShutEye. Also CheetahCats on this site can probably help you as well, he's a good colonial man.


Bruce

 

@hiho Thanks for the half-penny vs. farthing distinction. I assume there is also a size difference? Nice Gibby, too. I'm currently "in between" Gibsons, having sold a '93 LP and a trio of SGs. I haven't found "the one" yet.

@Coinman & Bruce I'll definitely check out ColonialCoins.org, and hopefully Cheetah will chime in with any additional information and valuation. Thanks!

 

Hmm, I tried to post and it didn't work, so here's the second attempt.

@hiho Thanks for the halfpenny vs. farthing distinction. Also, nice Gibby! I'm currently "in between" Gibsons, having sold a '93 LP and a trio of SGs. I'm still looking for "the one."

@coinman & Bruce I checked out ColonialCoins and found some good info, via the Notre Dame collection link. Hopefully, Cheetah will chime in with some additional facts and valuation. Thanks!

 

I'm not sure but I don't think that's a farthing it looks too large. A halfpenny would be about 28 mm across (About the diameter of a President dollar), a farthing closer to 20 mm (around the size of a nickel). Can you get a measurement on this piece?

 

According to Breen the Pitt Farthings are roughly 25-26mm. and the Halfpennies 27-28.6 mm. The Farthing weight ranges from 3.35-4.16 gms. and the Halfpenny from 5.47-5.80. All these numbers can vary somewhat, but these are the general characteristics of known specimens. I'd also be interested in knowing the diameter of your token ShutEye. By the way, you can PM Cheetah, he's always happy to help.

Bruce

 

The coin measures approximately 26.5mm--maybe 27--in diameter. It's hard to be sure, since I'm now measuring through the plastic case. As for weight, I have no idea. Is it possible that PCGS misidentified it? Are there any other differences between the farthings and half-pennies?

 

It's possible that PCGS made an error, they're not perfect. There are some differences between the Farthing and Halfpenny, but yours is so worn you may not be able to see them. Starting about 7 o'clock on the obverse (portrait side) of both types is a phrase which reads "The Restorer Of Commerce". The last "R" of restorer is much smaller than the other letters on the Halfpenny. Apparently, this was the only way the diesinker could fit all of the text around the rim without the words "Restorer" and "Of" running together. Also, Pitt's hair is flatter on the back of his head and his face is fuller on the Halfpenny than on the Farthing. The Halfpenny also appears to have a plain edge around the rim as opposed to reeding on the Farthing's rim. Unfortunately, these details may all be worn off. Take a close look and see if any of these diagnostics are present. Good luck ShutEye.

Bruce

 

Amazing.

The fact that PCGS didn't assign a grade to it is, in my opinion, no big deal. It's authenticated, and that's what's most important.

As BRandM indicated, Pitt tokens are exceptionally rare. If a grade had to be assigned to it, I would give it 'AG3-Details.' Most Colonial Enthusiasts would be happy just having any Pitt token -- including this one -- in their cabinet; regardless of its grade.

When I get back to my desk later this evening, I'll post more info.

Congratulations on your find OldShutEye! Your granddad was a lucky man to have obtained this.

 

Thanks for the information. Very interesting, indeed!