2017-03-08 Wed

A 1798 Draped Bust, Heraldic Eagle silver dollar, Very Fine 25 with a counterstamp on the obverse was sold for $2,115 on 12th February by Ira and Larry Goldberg Auctioneers at Long Beach Expo. Chop marks are commonly found on Trade dollars while counterstamps are found on a coin for advertising purposes. A counterstamp or chop marks can sometimes increase the market value of coins.

In the 19th century, coins were counterstamped with business names by merchants for advertising purposes. The coin auctioned features even wear and attractive toning at the rims. The letters W. BEATTY & SON is double-stamped on the obverse creating a flat reverse. William Beatty was a famous edge-toolmaker working in Pennsylvania in the 19th century, known for producing broad axes. The same counterstamp is seen on other metalwork in the 19th century as well. William Beatty’s sons took over the business after his death in 1843.