Denmark 1777 piastre

Heritage sale 3066, lot 30176

This specimen was lot 30176 in Heritage sale 3066 (Philadelphia, August 2018), where it sold for $75,000. The catalog description^[1] 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."

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.

Catalog reference: KM 639.2, Dav-412, Salvesen-52.

Source:

• 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.

Link to:

• 1776-CHL speciedaler
• Coins and currency dated 1777