1817 James Monroe Indian Peace Medal. Silver. First Size. First Reverse. Julian IP-8, Prucha-41. Choice Fine. 75.8 mm. 2495.5 grains. Pierced for suspension at 12 oclock, as issued. For most of the last century, the acquisition of a genuine first-size Monroe medal in silver has been a virtually impossible dream. We are aware of only two public offerings of such a medal, one in 2005 when Ronald Slovick bought this, and another last year, when an example with a reported indigenous provenance seems to have made its lone public appearance in a Pook and Pook sale. As such, this issue has been the barrier to completion for anyone striving for the goal. Even with about 120 original silver medals and the benefit of more than a generation of acquisition by three serious collectors behind it, the Ford Collection was incomplete for lacking this medal. Until 2023, this was the only example known in private hands.<p>The surfaces are glossy, with an almost waxy appearance from ancient polishing. Light silver gray over most of the high points, rims and open fields gives way to deeper gray patina with a slight violet hue in broad outlines to all devices. The medal seems to have seen significant use, and numerous small marks pepper both sides, as is the case for just about any Peace medal worn to this degree, but there are really no outstanding marks that one could deem troubling. A few very small rim marks are also noted, as one would expect. The suspension hole is quite worn with the upper border thin and "pinched" when looking from the edge.<p>Though just two medals are known in private hands, the writer has records of only four extant, one of which was reported in 1926 and has not been seen elsewhere for nearly a century, so its private ownership (and survival) is nothing more than presumed. As such, it is one of the rarest issues in the entire American series of struck Indian Peace medals intended for indigenous presentation. In terms of the two held privately, they are of similar sharpness. If either is sharper, it is this, but only marginally so. The other seems to have better color aside from a large unsightly spot in the upper reverse field, which is of an uncertain nature.<p>According to Father Pruchas research, just 32 medals of this size were struck, and in 1822, when the Office of Indian Trade was abolished, 24 were returned to the Secretary of War, leaving a net of just eight medals which probably goes far in explaining the great rarity of this issue today. If no more than eight were distributed, then we may well already have records on all that will ever turn up, as some are undoubtedly interred or otherwise lost for good. From the Ronald A. Slovick Family Collection. Earlier from Presidential Coin and Antiques Sale #74, December 2005, lot 542, via Anthony Terranova.
