1694 Carolina Elephant token. Hodder 2-F, W-12120. PROPRIETORS, O/E. MS-63 BN (PCGS).152.0 grains. Another remarkable Elephant token, showing glossy chocolate brown surfaces and a glow of lighter color around the devices where mint red was last to fade. Resoundingly well struck at centers on both sides, this piece shows only traces of denticles at the base of the obverse and an arc of denticles on the reverse that extends from 3:00 to 9:00. The distinctive centering on the reverse of this piece may look familiar to some who have never seen this coin, as this piece was the mother from which many of the known 19th century electrotypes were produced. The surfaces of this coin are smooth, hard, lustrous, and elegant. A few tiny pits and alloy inclusions are present at the rear of the elephant and the field to right, and an area of shallow natural texture is seen on the reverse in the space below RESER, but these are natural and do not harm the excellent visual appeal one iota. A short scratch right of LORDS: is the only mentionable flaw, and the O/E characteristic is plain under low magnification.<p>"Believed to be the finest known example," according to the 1980 Garrett III catalog, this piece is still the single finest O/E Carolina Elephant token PCGS has ever certified. Typical Carolina Elephant tokens have seen extensive circulation, and even Extremely Fine is a superb grade for this issue. Mint State examples are major rarities: PCGS has graded just two. This classic rarity has been highly esteemed since before the dawn of American colonial coin collecting, desired for its distinctive reference to the Southern colonies as much as for its elusiveness. This piece has the provenance to match its extraordinary state of preservation.PCGS Population: 1, none finer.From the Archangel Collection. Acquired from Stack’s, privately, April 1984. Earlier, from the Col. James W. Ellsworth Collection to John Work Garrett in 1923; Bowers and Ruddy’s sale of the Garrett Collection, Part III, October 1980, lot 1316; Stack’s sale of September 1983, lot 593.
