THE FOUR OAKS HOARD COLLECTION OF ALMOST 1,000 MORGAN AND PEACE DOLLARS HIGHLIGHTS NOONANS’ SALE OF WORLD COINS

Almost 1,000 Morgan and Peace Dollars, which were purchased en-bloc in the 1930s will be offered at Noonans Mayfair on Thursday, June 20, 2024 in a sale of World Coins. The collection is estimated to fetch up to £30,000. Split into 217 lots, with estimates ranging from £50 to £200, the collection known as the Four Oaks Hoard is being offered for sale by a UK collector.

As Jim Brown, Coin Specialist at Noonans explains: “It is not known if they were bought direct from the United States or in the UK. Kept in storage and untouched until the mid 1960s, they were then sold to an antique dealer and again put into storage. The current owner has now decided to sell.”

Probably the best known of all US coins, the Morgan Dollar, named after its designer George T. Morgan, was first struck in March 1878. The obverse figure of Liberty facing left and wearing a Liberty cap and wreath was based on the likeness of Miss Anna Willess Williams, a Philadelphia school teacher who sat for Morgan at the home of the famous painter and photographer, Thomas Eakins. These coins were struck in enormous quantities over the next 15 years, thanks mainly to the 1878 Bland-Allison Act which guaranteed a market for US silver-mining companies at prices well above the value of the metal on the world market. The 1890 Sherman Silver Purchase Act made a bad situation worse, and an economic crash ensued, the Panic of 1893. In the meantime, however an astonishing 420 million coins had been produced, most of which never entered circulation.

Among the highlights are a group of 10 fine examples of dollar coins from New Orleans which date from 1885 to 1904 and are estimated at £200-240 [lot 759].

Another American coin of interest is a Pine Tree Shilling which is estimated at £400-500. This is one of the most famous colonial American issues and was issued in the Massachusetts Bay Colony between 1552 and 1660. Production of the coins was carried out by John Hull and Robert Sanderson, who went on to produce much of the Bay Colony coinage until their mint was shut down in 1682, on the advice of colonial administrator Edward Randolph [lot 584].

Also in the sale is a rare and highly sought after 100 Lire coin that was struck by the Rome mint in 1925 to commemorate the 25th Anniversary of Vittorio Emanuele III’s accession to the Italian throne. It is estimated at £3,000-4,000. As Coin Specialist, Oliver Hepburn explained:
“This coin was made using gold acquired in 1915, following Italy’s entry into the First World War, these pieces seldom come up for sale, making this example very desirable” [lot 494].

While from Indonesia, a proof set dating from 1970 is estimated at £1,000-1,500. As Mr Hepburn explains: “In tandem with the celebrations surrounding their 25th Anniversary of Independence from the Netherlands, the Jakarta mint redesigned and reissued Indonesia’s coinage to reflect the country’s rich culture. Several combinations of sets were struck, including this 3-coin example featuring the silver Wayang dancer 500 Rupiah, the Garuda bird 750 Rupiah, and the gold Manjusri statue 5000 Rupiah - all beautifully toned and accompanied by its original case” [lot 490].