France 1786-A ecu

Jean Elsen sale 141, lot 1495

from the Stack's Bowers 2024 ANA sale, lot 43015

from the Stack's Bowers 2024 ANA sale, lot 43018

The first specimen was lot 1495 in Jean Elsen sale 141 (Brussels, June 2019), where it sold for €800 (about US$1,060 including buyer's fees). The catalog description^[1] noted,

"FRANCE, Royaume, Louis XVI (1774-1793), AR écu dit "de Calonne", 1786A, Paris. Essai de Droz. Refrappe avec tranche lisse. D/ B. nu et lauré du roi à g. R/ Monogramme couronné, formé de deux L entrelacés, l'un en forme de palme et l'autre de branche d'olivier, entourant trois lis. Très rare. presque Superbe. Provient de notre vente 130, 10 septembre 2016, 1059. (kingdom of France, Louis XVI, 1774-93, silver écu "Calonne" of 1786, Paris mint, essai by Droz, restrike with plain edge. Obverse: laureate bust of the king to left; reverse: crowned monogram witha palm frond and an olive branch and three lilies. Very rare, about Extremely Fine.)"

This pattern was popular enough with collectors that it was later restruck, which restrike is shown here. It is underweight; perhaps a five franc planchet was used. The second specimen was lot 43015 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $5,760. The catalog description^[2] noted,

"FRANCE. Kingdom. Copper Écu de Calonne Essai (Pattern), 1786-A. Paris Mint. Louis XVI. PCGS Genuine--Cleaned, Unc Details. Collar of six segments. Lettered edge. By J.-P. Droz. VERY RARE in copper, this pattern striking does exhibit some noted minor cleaning, but nevertheless is essentially free from wear, retaining excellent overall brilliance and deep red-brown flair. A magnificent offering featuring the intricate and highly artistic rendering of Droz. From the Richard Margolis Collection (acquired from Vinchon on 26 April 1999). Ex: Jean Vinchon (4/1999) Lot # 483."

The third specimen was lot 43018 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $21,600. The catalog description^[2] noted,

"Brilliant & Dazzling Écu Pattern without the Laurel Crown, FRANCE. Kingdom. Silver Écu de Calonne Essai (Pattern), 1786-A. Paris Mint. Louis XVI. PCGS SPECIMEN-58. Collar of six segments. Lettered edge. By J.-P. Droz. An EXCEPTIONALLY RARE variant whereby the monarch lacks a laureate crown, this example represents the only such instance of the type across both major services, and has essentially just one other rival in a quarter-century's-worth of auction records, with a somewhat inferior version realizing a hammer of €15,500 in October 2017. Highly vibrant and brilliant, with some very light rub upon the high points and some scattered friction in the fields accounting for the grade level. From the Richard Margolis Collection (acquired from Burgan on 22 May 1997). Ex: de Martelaere Collection (Claude Burgan 40 - 5/1997) Lot # 188."

Recorded mintage: unknown.

Specification: silver, 11 deniers (.917 fine), 8.3 pieces to the mark (29.488 g), face value 6 livres, 39 mm diameter, the first specimen is 25,44 g, the second specimen is copper, 25.07 g, the third specimen is 28.35 g.

Catalog reference: Ci. 2202 var.; V.G. 90 var.; the second specimen is Ciani-2205; Guilloteau-93; the third specimen is Ciani-2206; Guilloteau-94.

Source:

Ciani, Louis, Les Monnaies Royales Françaises de Hugues Capet à Louis XVI, avec indication de leur valuer actuelle, Paris, 1926 (reprinted in Barcelona, 1965).
Guilloteau, Victor, Monnaies Françaises, Colonies 1670-1942 et Metropole 1774-1942, Versailles, 1942.
^[1]Elsen, Philippe, et al., Vente Publique 141, Brussels: Jean Elsen et ses Fils, S.A., 2019.
^[2]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, August 2024 Global Showcase Auction, World & Ancient Coins, featuring The Emilio M. Ortiz Collection, The Richard Margolis Collection and The Rutherford Collection, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2024.

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