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<p>[QUOTE="expat, post: 8292415, member: 111067"]200 or so years ago there were privy marks on countermarked dollars. Countermarked dollars were used in trade to overcome the lack of silver coins, specifically between about 1780 and 1830. By definition privy marks are secret and therefore not intended to be obvious to the outside world. Unlike modern interpretation of "privy marks" which are highly visible. I believe it was because the values marked on these coins had to be above their intrinsic silver worth to preclude melting for the silver content. To try to prevent forgery, this mark-up was kept as small in value as possible and an addition of a mark. Issuers were more concerned with the continuation of trade rather than in making profit from marking foreign coins.</p><p>Unfortunately I have not been able to find any images to corroborate this.[/QUOTE]</p><p><br /></p>
[QUOTE="expat, post: 8292415, member: 111067"]200 or so years ago there were privy marks on countermarked dollars. Countermarked dollars were used in trade to overcome the lack of silver coins, specifically between about 1780 and 1830. By definition privy marks are secret and therefore not intended to be obvious to the outside world. Unlike modern interpretation of "privy marks" which are highly visible. I believe it was because the values marked on these coins had to be above their intrinsic silver worth to preclude melting for the silver content. To try to prevent forgery, this mark-up was kept as small in value as possible and an addition of a mark. Issuers were more concerned with the continuation of trade rather than in making profit from marking foreign coins. Unfortunately I have not been able to find any images to corroborate this.[/QUOTE]
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