The First Coin of Vermont
The First Coin of Vermont
By Ryan Greene
The new world was still much a part of the old when colonization began in America. Old ways were brought from host countries along with their coinage as well. A big part of commerce in the new world was foreign coinage. This was the case, with the exception of a few Massachusetts Bay coinage versions and the “Granby Copper” from Connecticut. Most coins were from European as well as Central and South American mints.
Between 1776 and 1788 some colonies managed to start up mints and of these Vermont took the lead. Her first act on June 15th of 1785 was to mint coins dated as such. Following Vermont’s lead was Connecticut four months later. Then it was New Jersey a year after Vermont and then Massachusetts 4 months after that. These pieces sanctioned by the states were copper. Only Massachusetts established a proper mint, with the three other states soliciting private persons to mint their coinage often at their own risk.
Small change was in desperate need in the colonies and Vermont, being so far removed from the center of commerce, needed it especially. It took only 5 days from the formation of the committee to the signing of the bill to create this coinage to relieve the strain on business. In this act the obligations of the minter, Mr. Reuben Harmon, Jr., were established, along with how long he was to mint these first issues (two Years) and the coins weight (1/3 a Troy ounce).
About four months later in October the required weight of the coins was diminished in an act passed on the 27th. It was reduced to the minimum weight of 4 pennyweights and fifteen grains, down from six pennyweights and sixteen grains. Since the weight was less than the act authorized in June, the issues were unauthorized, so to speak. But Congress hadn’t issued a coin or dictated a standard to follow at the time, nor were the other states sticking to a uniform weight between them. So the importance was placed on the fact that weights were to be uniform and the metal be genuine.
Mr. Harmon, after meeting all requirements and obtaining all necessary equipment, built a mint in the town of Rupert, Vermont where he lived. It was a small building on a stream with a furnace, rolling machine, cutting device (for cutting planchets from strips of metal) and a screw press. Anywhere between thirty and sixty coins were struck a minute and had the following designs and legends:
Obverse:
Design: A sun rising with trees and mountains and a plough in a field at the bottom.
Legend: VERMONTENSIUM. RES. REPUBLICA. Also the date
Reverse
Design: A radiated eye, surrounded by 13 stars
Legend: QUARTA. DECIMA. STELLA.
Since the dies were all hand made varieties do exist. These differences between the same issues are described in terms of “types” and “varieties”. Type differences are those changes to the design first set forth by the authority of the state. Minor differences not affecting such devices are considered varieties and are basically changed at the discretion of the die sinker. The mottos, inscribed in Latin, were like those of New Jersey and Connecticut, but those on Massachusetts were in English.
The designs of the first coinage of Vermont were not spelled out by the committee, but were quite clear at the time. The rising sun represented the colonies promising start. The mountains signified those prominent in the area that bisected the state. The mountains were surrounded by forests that exemplified the lands unsettled condition. Also the plough in a field represented Vermont’s agricultural environment in this period.
On the reverse the thirteen stars and a radiated eye alluding to the thirteen newly independent colonies with the legend translated meaning the fourteenth star. This referring to the hope of Vermont’s eventual admittance into its place as the fourteenth state. Which was fulfilled six years later in 1791.
Vermont’s initial coinage is unique in that it was created at the same time as other states, but wasn’t considered an “original” colony. The process in which it took to start a mint at the time is also interesting, in that it can take as little as five days to secure an act and can start up a mint with bare essentials and still be an appreciated and welcomed aid to commerce in a struggling young economy.
I hope you enjoyed this brief history on Vermont’s first coin and keep the passion for numismatics alive!
By Ryan Greene
The new world was still much a part of the old when colonization began in America. Old ways were brought from host countries along with their coinage as well. A big part of commerce in the new world was foreign coinage. This was the case, with the exception of a few Massachusetts Bay coinage versions and the “Granby Copper” from Connecticut. Most coins were from European as well as Central and South American mints.
Between 1776 and 1788 some colonies managed to start up mints and of these Vermont took the lead. Her first act on June 15th of 1785 was to mint coins dated as such. Following Vermont’s lead was Connecticut four months later. Then it was New Jersey a year after Vermont and then Massachusetts 4 months after that. These pieces sanctioned by the states were copper. Only Massachusetts established a proper mint, with the three other states soliciting private persons to mint their coinage often at their own risk.
Small change was in desperate need in the colonies and Vermont, being so far removed from the center of commerce, needed it especially. It took only 5 days from the formation of the committee to the signing of the bill to create this coinage to relieve the strain on business. In this act the obligations of the minter, Mr. Reuben Harmon, Jr., were established, along with how long he was to mint these first issues (two Years) and the coins weight (1/3 a Troy ounce).
About four months later in October the required weight of the coins was diminished in an act passed on the 27th. It was reduced to the minimum weight of 4 pennyweights and fifteen grains, down from six pennyweights and sixteen grains. Since the weight was less than the act authorized in June, the issues were unauthorized, so to speak. But Congress hadn’t issued a coin or dictated a standard to follow at the time, nor were the other states sticking to a uniform weight between them. So the importance was placed on the fact that weights were to be uniform and the metal be genuine.
Mr. Harmon, after meeting all requirements and obtaining all necessary equipment, built a mint in the town of Rupert, Vermont where he lived. It was a small building on a stream with a furnace, rolling machine, cutting device (for cutting planchets from strips of metal) and a screw press. Anywhere between thirty and sixty coins were struck a minute and had the following designs and legends:
Obverse:
Design: A sun rising with trees and mountains and a plough in a field at the bottom.
Legend: VERMONTENSIUM. RES. REPUBLICA. Also the date
Reverse
Design: A radiated eye, surrounded by 13 stars
Legend: QUARTA. DECIMA. STELLA.
Since the dies were all hand made varieties do exist. These differences between the same issues are described in terms of “types” and “varieties”. Type differences are those changes to the design first set forth by the authority of the state. Minor differences not affecting such devices are considered varieties and are basically changed at the discretion of the die sinker. The mottos, inscribed in Latin, were like those of New Jersey and Connecticut, but those on Massachusetts were in English.
The designs of the first coinage of Vermont were not spelled out by the committee, but were quite clear at the time. The rising sun represented the colonies promising start. The mountains signified those prominent in the area that bisected the state. The mountains were surrounded by forests that exemplified the lands unsettled condition. Also the plough in a field represented Vermont’s agricultural environment in this period.
On the reverse the thirteen stars and a radiated eye alluding to the thirteen newly independent colonies with the legend translated meaning the fourteenth star. This referring to the hope of Vermont’s eventual admittance into its place as the fourteenth state. Which was fulfilled six years later in 1791.
Vermont’s initial coinage is unique in that it was created at the same time as other states, but wasn’t considered an “original” colony. The process in which it took to start a mint at the time is also interesting, in that it can take as little as five days to secure an act and can start up a mint with bare essentials and still be an appreciated and welcomed aid to commerce in a struggling young economy.
I hope you enjoyed this brief history on Vermont’s first coin and keep the passion for numismatics alive!
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