Auction Number 40 Closed (#11006)

639 - MILLER PA 391 MS62 60% Red with obverse struck through a thin wire just under the &. Pennypacker & Sibley. with blank reverse struck in Copper with Plain edge. Long attributed to Philadelphia, Rulau questions his own placement in the 1845 to 1860 time period noting no directory listings exist through 1860. Perhaps the true answer is it is not Philadelphia at all. While Wm. G. Pennypacker did have earlier connections and business dealings in Philadelphia, he along with D. H. Pennypacker, Josiah Sibley and others formed and operated Pennypacker & Sibley a Stave Mill in Van Wert Ohio around 1863. Sibley eventually left the firm around 1870 and became part of Eagle Stave Company also of Van Wert. By the die style this piece is likely late 1860's. Further research is needed. Regardless a very rare variety. A stained EF example in Brass counterstamped 1 brought $86 in our February 2014 auction. From the Richard Crosby collection earlier from PCAC May 1977. (150-200)