1736 Jernegans Cistern Medal. Betts-169, Eimer-537, MI III:72. Silver. MS-63 (PCGS). 38 mm. Iridescent highlights of golden-apricot, powder blue and olive enhance otherwise dominant pearl gray patina on both sides of this lovely piece. A sharply struck, modestly semi-reflective specimen with strong visual appeal. The Jernegans Cistern was a massive vase of wrought silver that proved impossible to sell and was disposed of by lottery. Some early American coin dealers tried to link this medal to the division of the Colony of Carolina into North and South, no doubt seeking aid in their bid from the inclusion of palmetto trees in the reverse design. In reality, however, the medal had no such intent. Approximately 30,000 examples were produced and distributed to purchasers of lottery tickets, who paid five or six shillings for their entry.
