Stack’s 9/2009:4005, $28,750
Stack’s “Gilbert Steinberg” 10/1989:49 - John “Jack” Royse Collection - Stack’s/Bowers 11/2012:6016, $23,000
Heritage 10/2010:3022, $17,825
The 1694 Elephant Tokens are among the most popular U.S. Colonial coins because of their theme and rarity. No other American coins feature an elephant, so collectors of colonial coins are naturally inclined toward them. Based on the size of the ear, the elephant appears to be of the African variety. Unfortunately, no records exist to explain why the elephant was used on a coin tied to the American colonies.
The 1694 Elephant Tokens come in two versions: one with PROPRIETERS on the reverse (a mis-spelling) and another with the word corrected to PROPRIETORS by punching an O over the E (the undertype is always visible).
The PROPRIETORS O/E variety is very rare. The cataloger of the Ford Collection thought he had seen fewer than a dozen examples, but we have images of seventeen different examples (as of April 2017) and there are doubtless a few more "out there." Most are either low grade or have endured indignities such as pitting, cleaning, or planchet flaws. We know of two Mint State examples, including a PCGS MS62BN and an even better example from the Garrett Collection (reportedly now in the Donald Partrick Collection).
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