Denmark 1777 piastre
The first specimen was lot 30176 in Heritage sale 3066 (Philadelphia, August 2018), where it sold for $75,000. The catalog description noted,
"Denmark: Danish Asiatic Company. Christian VII Trade Piastre 1777 AU55 NGC, Kongsberg mint, An extraordinary offering that features the crowned arms of Denmark, Norway, and Sweden across the obverse. The reverse presents the crowned, globe-shaped arms of Denmark and Norway between two pillars with the island names of ISLAN, GRÖNLAN, and FERÖ below. Thick, cobalt-dove patina covers the entirety of the planchet, with cordovan coloring at the legends and original luster that gleams from the expanses. The strike has been rendered with authority and any effects of handling remain well concealed beneath the darkened patination. Struck for trade in the Orient, the design of this historically important "Greenland Dollar" was inspired by the Spanish colonial pillar 8 Reales, and was issued in the year that the Danish Asiatic Company ceded Asian trade rights to the Danish crown. A scarce offering in total, with Salvesen reporting a mintage figure of 21 known pieces, 12 of which are in museums. Ex. Millennia Collection."
The second specimen was lot 32171 in Heritage sale 3061 (New York, January 2018), where it sold for $96,000. The catalog description noted,
"Denmark: Fewer Than 10 Specimens Believed Available to Private Collectors! Danish Asiatic Company. Christian VII Trade Piastre 1777 AU55 NGC, Kongsberg mint. A second, different date of the "Greenland Dollar with a larger Crown than the previous 1771 example. Obv. Crowned arms of Denmark, Norway, and Sweden. Rev. Crowned globe-shaped arms of Denmark and Norway between two pillars, with mound below containing the names of islands, ISLAND, GRONLAN, and FERO, below all is the date 1777. The strike is sharp, with considerable original mint luster remaining and moderate handling marks. This issue, struck for the China trade, was issued in the year that the Danish Asiatic Company ceded the Asian trade rights to the Danish crown. An extremely rare issue with Salvesen stating 21 pieces known, of which 12 are in museums. An incredible, second opportunity to claim one of these classic rarity world crowns."
The third specimen was lot 1152 in Stack's Bowers sale of the L. E. Bruun Collection (Copenhagen, September 2024), where it sold for €144,000 (about US$159,581 including buyer's fees). The catalog description[1] noted,
"Stunning Example of the Very Rare 'Greenland' Dollar, One of the Most Popular Norwegian Coins, NORWAY. Danish Asiatic Company. "Greenland" Dollar (Piastre), 1777. Kongsberg Mint. Christian VII. NGC MS-62. Mintmaster: Hans Jacob Arnold Branth. Engravers: Gabriel Andersen Lunder, Anders Jonsen Lunde. These hefty Piastres are RARE and seldom come to market, making them highly sought after when they do. It is doubly rare when they are preserved anywhere near this nicely, with this example surpassing all others on the NGC census. The surfaces are bright and lustrous, with only the lightest glimpses of contact seen occasionally. As such a tremendous representative of this always in demand type, this example figures to be amongst the highlights of the sale, and a welcome addition to any collection of Scandinavian coinage, World Crowns, or Trade Coinage.
Of all the world crowns, few have the magnetism and weighty importance of the Danish Asiatic Company "Greenland" Dollar. Produced to function as trade coinage, and modeled after the dominant Trade Dollar of the period, the Spanish Colonial Eight Reales which provided clear design inspiration. While produced primarily for export to the Orient, the coin features banners representing Greenland, Iceland, and the Faroe Islands, generating the misnomer. The inclusion in the Danish section of the catalog is due to the original numbering in the 1928 catalog which was essentially based on H. H. Schou's reference work. Presumably due to the fact that the Piaster quite exceptionally doesn't have the Kongsberg mintmark of the two crossed hammers, it wasn't listed under Norway. For cogency we have, however, chosen to honor the original listing. Ex: Countship of Brahesminde Collection (Private Sale - 1922). Ex: Peter v. Hemmert (Copenhagen - 2/1807) Lot # 1862."
This coin has long been marketed as the "Greenland dollar" to appeal to North American collectors but this coin was not issued for circulation there, being intended for trade with the Orient. Other piastres dated 1771 also exist and are about as rare.
Recorded mintage: 50,000.
Specification: 26.98 g, 0.902 fine silver, the third specimen is 27.04 g.
Catalog reference: KM-639.2; Dav-412A; NMD-100; Hede-9; Sieg-15; Schou-3; FP-33.2; Salvesen-52; Bruun-7789.
- Siegs Møntcatalog 2016: Danmark med Omrader, 48 ed., Frederikssund, Siegs Forlag ApS, 2015.
- Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
- [1]Orsini, Matt, Kyle Ponterio, Jeremy Bostwick and Henrik Holt Christensen, The L. E. Bruun Collection - A Corpus of Scandinavian Monetary History Part I, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2024.
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