1786 New York Copper Values

The Greysheet Catalog (GSID) of the New York Copper (1786–1787) series of Colonial & Post-Colonial Issues in the U.S. Coins contains 2 distinct entries with CPG® values between $9,500.00 and $260,000.00.

Several individuals petitioned the New York legislature in early 1787 for the right to coin copper for the state, but a coinage was never authorized. Instead, a law was passed to regulate the copper coins already in use. Nevertheless, various unauthorized copper pieces were issued within the state, principally by two private mints. One firm, known as Machin's Mills, was organized by Thomas Machin and situated near Newburgh. Shortly after this mint was formed, on April 18, 1787, it was merged with the Rupert, Vermont, mint operated by Reuben Harmon Jr. Harmon held a coinage grant from the Republic of Vermont. The combined partnership agreed to conduct their business in New York, Vermont, Connecticut, or elsewhere if they could benefit by it. The operations at Machin's Mills were conducted in secret and were looked upon with suspicion by the local residents. They minted several varieties of imitation George III halfpence, as well as coppers of Connecticut, Vermont, and New Jersey. The other mints, located in or near New York City, were operated by John Bailey and Ephraim Brasher. They had petitioned the legislature on February 12, 1787, for a franchise to coin copper. The extent of their partnership, if any, and details of their operation are unknown. Studies of the state coinage show that they produced primarily the EXCELSIOR and NOVA EBORAC pieces of New York, and possibly the "running fox" New Jersey coppers.