1781 (1789) Daniel Morgan at Cowpens Medal. Betts-593. Bronze, 56 mm. Uncirculated Details--Damage (PCGS). 1097.5 grains. Attempted puncture near 12 oclock. Attractive glossy medium brown, with a range of shades from dark tan to chocolate brown to olive mahogany. A noticeable amount of old verdigris is seen in many protected areas of both sides, including around central devices and within the intricacies of some peripheral legends. Some hairlines are visible in the exergues of both sides, where some verdigris was gently removed. The drilling that failed in its effort to create a hole did raise some metal on both sides, affecting O of MORGAN and R of LIBERTATIS. The eye appeal remains good, despite the flaws, and the die chip in the reverse exergue leaves no doubt as to the originality of the strike. The concave edge, described as "the slightly concave edge typical of late 18th century French medals," is a hallmark of an original and a firm discriminator between the 1789 originals and the 1839 and later strikes from the Barre dies at the US Mint. A subtle collar mark is also seen below 3 oclock relative to the obverse.<p><p>The Daniel Morgan at Cowpens medal is finding its moment, at last. Arguably Dupres greatest masterpiece, it has long been appreciated by those who love medallic artistry. The history of Morgans valiant leadership during the Southern Campaign is widely known and acknowledged. But only in recent years have advanced medal enthusiasts placed an original Morgan medal on the highest plateau of American medallic rarities. When John W. Adams bought the silver original Morgan medal from the May 2001 LaRiviere III sale, it set a price record for a Betts medal that stood for years. In spite of this, the rarity and importance of bronze originals remained overshadowed by the availability (and attractiveness) of the U.S. Mint strikes made from Barres 1839 copy dies. Better information, including the Adams-Bentley book, allowed collectors to more accurately discern between the originals and copies, and the inevitable discovery that originals were extremely rare followed soon thereafter. Despite Fords bronze original bringing a relative song in May 2006 ($13,800), every subsequent sale has ratcheted higher. The first specimen sold in the November 2019 John W. Adams sale brought $55,200. The duplicate in the following lot brought $78,000. Most recently, the Syd Martin specimen - the same one that brought $13,800 in the Ford sale - brought $264,000 in our November 2023 sale. The interest in that piece, and in the Morgan at Cowpens medal as a whole, may have been affected by the notoriety achieved by the 1839 U.S. Mint gold Morgan at Cowpens medal presented to Morgans grandson, which realized $960,000 in our April 2022 sale.<p><p>We have handled every single original Daniel Morgan at Cowpens medal sold at auction. We count the three referenced above (Ford-Martin, McDonald-Adams, and Finn-Adams), plus this one, plus one more in private hands for a collectible population of five specimens. Adams and Bentley located four additional originals in bronze in institutional collections, ensconced in the cabinets of the Boston Public Library (ex Augustin Dupre - Narcisse Dupre), Bostons Museum of Fine Arts, the British Museum, and the Hermitage in St. Petersburg, Russia. The three silver ones include the LaRiviere-Adams piece, unique in private hands, along with examples at the Massachusetts Historical Society (Washingtons own) and the Kunsthistoriches Museum in Vienna. This adds up to a total population of about nine in bronze and three in silver. The gold original is somewhere in the Monongahela River, stolen from a bank in Pittsburgh in 1818 and never recovered.<p><p>Morgans elegant strategic victory over Col. Banastre Tarleton in South Carolinas Upcountry helped set the stage for the surrender of Cornwallis at Yorktown. Morgan continues to make history in the numismatic realm every time one of these is offered.<p> From the Richard Margolis Collection. Earlier from our (Bowers and Ruddys) Roy Harte Collection, Part III sale, January 1983, lot 3485.
