1809 James Madison Indian Peace Medal. Silver. First Size. Julian IP-5, Prucha-40. Extremely Fine. 75.5 mm. 2774.8 grains. Neatly pierced for suspension at the usual position, a characteristic that is quite consistent among the large Madisons as the obverse die featured a small circular guide marking where the hole was to be placed. We have only seen a single piece with the hole positioned slightly differently. Mostly light silver gray with some soft golden brown and pale blue accents near the obverse periphery. A scattering of the usual marks and nicks is noted, but it would appear that some more serious imperfections were smoothed out. There are several depressions in the obverse fields, and associated tooling. Close examination reveals some deeper swirling marks which cause us to wonder if there might have been some useful graffiti in these fields at one time. Perhaps it contained the identity of an owner, information that was not appreciated by someone long after (an unsophisticated collector?) for the value it added to a piece such as this. Either way, this large Madison is quite impressive. The design details are sharply executed and the high rims only mildly nicked, as expected. John Reichs "R." mark on the obverse rim at 6:00 and a prominent collaring mark or witness line is noted on the edge at 6:00 relative to the obverse. Evidence of clear double striking is seen through the legends on both sides.Efforts were undertaken to begin the process of producing the Madison medals shortly after Jefferson left office, but we know that some Jefferson medals were still being distributed (from the Military Stores) as late as November 1811, and perhaps even after. The story nicely presented by Prucha of the procurement of the Madison medals, from the first efforts in 1809 to the date of the first delivery in December 1814, is a painful read. One can only imagine what the Indian Agents went through as they explained away years of delay on the frontier. The number of large-size silver Madisons eventually struck for distribution is uncertain, but contemporary records presented by Prucha account for at least 113, while Robert Julian gives the mintage in this size as 112 pieces.Carl Carlsons research on auction appearances, published in 1986, yielded 15 records for the large-size Madison, but there was no effort to make distinctions of individual specimens. When the Ford Collection was cataloged in 2006 and 2007, a bit more effort was put into estimating the number of surviving medals, and 15 was the number proposed. The present writers own recent survey of survivors has located 19 different specimens with a report of one other that we have not seen images of. This does not include one in the Crane Collection at the Denver Museum of Natural History, which is a restrike. Undoubtedly there are a few that we are unaware of, but as is the case with six of those we did find, there is a good chance that newcomers to our census will be found in the holdings of local museums or historical societies.As with the large-size Jefferson medals, the large-size Madisons and all to follow were reserved for the highest ranking Chiefs. As the largest, they are the most impressive. For the status they were intended to recognize, they are the most desirable. No recorded provenance.
