Satyrical 1838 Hard Times Token, "Loco Foco", HT-63, Low-55

Satyrical 1838 Hard Times Token, "Loco Foco", HT-63, Low-55

480.00

One of the strangest and most enigmatic of the Hard Times token series, HT-63 the famous “Mint Drop/Loco Foco” design. The image used to depict Liberty is particularly unattractive, with a rather blank “vacant” look to her eyes. The story goes that at a particularly acrimonious meeting at Tammany Hall in October of 1835, there was a split in the Democratic Party of New York. One group was described as the “anti-monopolists”, and were dubbed the “Loco Focos” by local newspapers, obviously those which were supporters of the Republican cause. The name later was used to describe the Democrats in general. Certified NGC MS-62BN, with attractive even medium chocolate Brown surfaces - the Reverse still shows a small amount of original planchet color. Struck a bit softly at the date and corresponding area of the Reverse, not surprising for a private issue meant as a currency expedient. Common overall as a Type (R-1), however not so in Uncirculated grades; currently 9 in the grade at NGC, with only three better. Two comparable MS-62BN specimens sold at $564 (Heritage, 2016) and $465 (ebay late 2018). The Heritage piece was ex-Newman, with somewhat less attractive surfaces than either the ebay piece or the specimen offered here - my price takes this into account, and splits the difference.

NGC 4738941-009

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