France 1791 ecu

from the Stack's Bowers 2024 ANA sale, lot 43032

from the Stack's Bowers 2024 ANA sale, lot 43034

from the Stack's Bowers 2024 ANA sale, lot 43042

from the Stack's Bowers 2024 ANA sale, lot 43045

from the Stack's Bowers 2024 ANA sale, lot 43048

from the Stack's Bowers 2024 ANA sale, lot 43054

from the Stack's Bowers 2024 ANA sale, lot 43057

The first specimen was lot 43032 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $66,000. The catalog description^[1] noted,

"Wondrously Toned and Stunningly Pedigreed Pattern Écu from the 1791 Competition, FRANCE. Constitution. Silver Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-64. Maz-54 (R4); Gad-46.(a); Ciani-2222. Plain edge. By J.-B. Andrieu. 30.93 g. A stunningly designed and struck example from the array of crowns designed in 1791, this near-Gem stands as a seemingly unrivaled RARITY, as it is the sole representative of the type seen across both major services. The design is rather deeply and boldly incised, with elegant relief creating a refined and exceptionally sculpted nature upon each side. Furthermore, intense pastel hues draw in the gaze of the viewer, with the stunning level of preservation increasing its desirability that much more. Regarding its mintage figure, as well as those for some of the other examples for the competition, Margolis writes that "...there were probably only two specimens in silver struck of this as well as some (but not all) of the other silver competition essays, thus enabling both obverse and reverse to be viewed at the actual judging, which was originally intended to take place at 3:00pm, Wednesday, July 6, 1791, at the Académie Royale de Peinture et de Sculpture. It did not actually take place until July 9. The present example is the only one known to the cataloguer; a second example may surface some day." Featuring a phenomenal pedigree in addition to its exquisite beauty, this stunner will no doubt generate immense enthusiasm and participation.
From the Richard Margolis Collection (acquired from Münzen und Medaillen on 27 November 1961). Ex: Collection R.K. (Raoul Kraft) (Münzen und Medaillen - 11/1961) Lot # 70 (acquired from Münzen und Medaillen in Basel in 1954). Ex: Palace Collections of Egypt [King Farouk] (Sotheby's - 3/1954) Lot # 2171 (part of). Ex: Virgil M. Brand Collection (as "Ferrari-Brand," Schulman - ca. 1932) Lot # 2821. Ex: Baron Phillipe de Ferrari la Renotière Collection (acquired from Marc Fabre in 1882). Ex: Dassy de Meaux Collection (Rollin et Feuardent - 5/1869) Lot # 1073 (acquired from M. Rousseau in February 1841). Ex: Pierre-Joseph & Nicolas-Pierre Tiolier Collection (possibly acquired from Bertrand Andrieu ca. 1791; sold to M. Rousseau in February 1841)."

The second specimen was lot 43034 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $57,600. The catalog description^[1] noted,

"Tremendously Rare & Enticing Écu Pattern from the Hand of Jean-Pierre Droz, FRANCE. Constitution. Silver Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-62. Maz-59 (R3); Gad-47.(a); Ciani-2229. Lettered edge. Mintage: 8. By J.-P. Droz. 28.40 g. Standing as the only example of the type in silver seen across both major services, and emanating from a scant output of just 8 specimens, this nearly-Choice and EXTREMELY RARE rendition offers a particularly inviting and vibrant pastel nature to the toning upon each side. In particular, the coloring of the reverse is reminiscent of the most visually stunning of sunrises that one can imagine. Sharply struck and charmingly preserved, it serves to show off the refined nature of Droz's artistry. Nevertheless, despite this wonderful engraving, Droz received no votes in the design competition, with Benjamin Duvivier and Augustin Dupré receiving the lion's share of interest, combining for 55 of the 57 votes cast for their designs. From the Richard Margolis Collection (acquired from Jules Florange & Cie. on 14 March 1958). Ex: Münzen und Medaillen (6/1951) Lot # 396."

The third specimen was lot 43042 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $21,600. The catalog description^[1] noted,

"FRANCE. Constitution. Silver Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-55. Maz-63 (R4); Gad-48.(a); Ciani-2225. Type I. Plain edge. By A. Dupré. 31.16 g. The first of Dupré's two entries into the 1791 design contest, this type, featuring a larger portrait of the king, served as the type eventually adopted. VERY RARE in silver, with a vibrant gunmetal gray cabinet tone that offers some violet and magenta hints throughout. About its RARITY, Margolis writes that '...this seems to be one of only two pieces struck in silver' and that '...this particular example, although it is in quite presentable very fine condition, displays some obvious wear, probably having been carried as a pocket piece for a few years (possibly by Dupré himself?). The wear not only distinguishes it from the other, much choicer, example known, the marriage piece presented by Dupré to Gabriel Cussy on the occasion of his March 8, 1792 marriage to Marie Anne Fleuriau, but enables a pedigree to be constructed for it with considerable confidence.' From the Richard Margolis Collection (acquired from Münzen und Medaillen on 27 November 1961). Ex: Collection R.K. (Raoul Kraft) (Münzen und Medaillen - 11/1961) Lot # 73 (acquired from Münzen und Medaillen in Basel in 1954). Ex: Palace Collections of Egypt [King Farouk] (Sotheby's - 3/1954) Lot # 2172 (part of). Purportedly Ex: Virgil M. Brand Collection (as "Ferrari-Brand," Schulman - ca. 1932). Purportedly Ex: Baron Phillipe de Ferrari la Renotière Collection (acquired from Marc Fabre in 1882). Ex: Regnault Collection (Hoffmann - 6/1875) Lot # 633. Ex: Charles Rollin Collection (as of Conbrouse, 1839) # 45."

The fourth specimen was lot 43045 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $21,600. The catalog description^[1] noted,

"FRANCE. Constitution. Copper Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-64 Red Brown. Maz-73 (R3); Gad-49.(a) var. (tip of left wing visible); Ciani-2227 var. (same). Type II. Plain edge. By A. Dupré. 28.61 g. The artist's second design, and one that was not entered into the competition and does not exist in silver, it stands as a VERY RARE variant in which the left (rear) wing of the Genius has been removed from the die. While this reverse type is represented in Mazard, it is not noted in either Gadoury or Ciani. As for the obverse design, it was subsequently adapted for the 2 Sols for 1791-1793. This example offers rich red-brown surfaces, with an impeccable strike and tremendous brilliance radiating throughout. From the Richard Margolis Collection (acquired from the Farouk Collection in March 1954). Ex: Palace Collections of Egypt [King Farouk] (Sotheby's - 3/1954) Lot # 2173 (part of). Ex: Virgil M. Brand Collection (as "Ferrari-Brand," Schulman - ca. 1932) Lot # 2829. Ex: Baron Phillipe de Ferrari la Renotière Collection."

The fifth specimen was lot 43048 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $72,000. The catalog description^[1] noted,

"'The Lost Duvivier' -- One of Just Two Struck & Cited in Gadoury, FRANCE. Constitution. Silver Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-63. cf. Maz-76 (copper); Gad-50.(a) (this coin cited; no value listed); cf. Ciani-2230 (copper). Plain edge. Mintage: 2. By B. DuVivier. 26.78 g. DuVivier's design for the 1791 Écu competition, this type is known in various base metals, but silver stands as an IMMENSE RARITY, with Gadoury citing a mintage of just two specimens. Even more intriguing, his note for this type lists the present example as the only one of the two accounted for: "seul exemplaire retrouvé--collection Margolis, U.S.A." Supremely elegant and attractively engraved, with a wondrous portrait of the king and a well-sculpted Genius. The strike is magnificently rendered, and an alluring level of gunmetal gray toning and accompanying iridescence enlivens its nature that much more. A tremendous and possibly UNIQUE opportunity given the unknown status of its counterpart.
This exceptionally impressive specimen was something of a triumph for Margolis, as he writes that "...November 6, 1964 was truly a red letter day for my collection. During a visit to 17, rue de la Banque, in Paris, to visit the renowned Jules Florange et Cie firm, Mme. Nadia Kapamadji, its long-time director, laid before me no fewer than eight original strikings by various engravers of lettered edge silver 5 franc essays of Louis XVIII, from the Monetary Competition of 1815. Most of them were unpublished, (Victor Gadoury published them subsequently based on my informing him of their existence). During that same visit, having told Mme Kapamadji that the most desirable essay I ever hoped to obtain for my collection was an example of what I had become accustomed to calling "the lost Duvivier", namely his essay in silver for the Monetary Competition of 1791. I opened her copy of V.G. and showed her the example in copper illustrated there. In silver it had been listed only a single time, by Conbrouse in 1839, when it was in the Lambert collection, and never anywhere since. Mme. Kapamadji replied, "I think I have one" (or words to that effect). She got up from her desk, disappeared into one of the back rooms of her office, reappeared, and lay before me an example of the Duvivier silver essay." From the Richard Margolis Collection (acquired from Jules Florange & Cie. on 6 November 1964.)"

The sixth specimen was lot 43054 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $45,600. The catalog description^[1] noted,

"Gatteaux's Supremely Elegant & Rare Pattern Écu. FRANCE. Constitution. Silver Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-62. Maz-80 (R4); Gad-51b.(a); Ciani-2232 var. (different fasces with no Phrygian cap). Type with Phrygian cap on fasces. Plain edge. By N.-M. Gatteaux. 31.04 g. Featuring the characteristic die issues that seemingly plague this entrant into the 1791 design contest, this example nevertheless stands as a VERY RARE and enchanting specimen, with an extremely elegant rendition of the king's left-facing bust and an intricate, decorative floral border with lis enveloping the peripheries of each side. Of note, this is the more difficult of the two types, in which the fasces to the left of the standing figure of Genius is surmounted by a Phrygian (liberty) cap. Margolis writes that, when Gatteaux decided to altar the fasces, both by lengthening and surmounting it with the Phrygian cap, "...the steel must have been weakened. When Gatteaux attempted to strike the modified silver examples, the portion of the obverse die directly opposite the re-engraved portion of the reverse die fractured. The result was an unsightly obverse die-break affecting the rim and the legend from about 12:30 to 4:00 on both of the silver specimens which were struck." From the Richard Margolis Collection (acquired from Crédit de la Bourse on 28 March 1981). Ex: Crédit de la Bourse (3/1981) Lot # 168. Purportedly Ex: Rignault Collection (1848) Lot # 554."

The seventh specimen was lot 43057 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $26,400. The catalog description^[1] noted,

"Very Rare Original Striking of Vasselon's Design, FRANCE. Constitution. Silver Écu de 6 Livres Essai (Pattern), Year 2/1791. Paris Mint. Louis XVI. PCGS SPECIMEN-61. Maz-84 (R2); Gad-53.(a); Ciani-2234. Plain edge. By F. Vasselon. 28.77 g. More commonly encountered than any other of the entrants into the 1791 design competition, this offering by Vasselon nevertheless stands as the finer of just two observed at PCGS, and is tied with just four at the MS-61 level at NGC (and none finer). Margolis notes that, "...although not realized when it was purchased, this is an excessively rare original striking of the Vasselon competition essay in silver, one of probably only two struck. It was not struck in a collar, has a rough plain edge, a proof-like surface, and a diameter of 39.0mm." Given that it is difficult to ascertain how many of the aforementioned certified examples are, in fact, the restrikes and not original strikings, it can be deduced that its RARITY is even greater than population figures would indicate. Indeed, this cataloger has observed two instances in which restrikes were classified as originals, thus inflating the number of originals. Mostly steely gray throughout, with a good deal of glistening brilliance and some golden hues nearer the peripheries. From the Richard Margolis Collection (acquired from Hans Schulman on 23 December 1957 for $150). Ex: Charles N. Cooley Collection (acquired from Hans Schulman on 4 February 1957). Ex: Hans Schulman [Farouk Duplicates] (2/1950) Lot # 41."

Recorded mintage: unknown.

Specification: 29.48 g, 0.917 fine silver, 39 mm diameter.

Catalog reference: Maz-54 (R4); Maz-59 (R3); Maz-73 (R3); Maz-76 (copper); Maz-80 (R4); Maz-84.

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).
Gadoury, Victor, Monnaies Françaises, 1789-2019, 24me éd., Monaco: Éditions Victor Gadoury, 2019.
Guilloteau, Victor, Monnaies Françaises, Colonies 1670-1942 et Metropole 1774-1942, Versailles, 1942.
^[1]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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France 1791 ecu

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