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Lot 3002

Image Information

Type Coin
Title Lot 3002
Date 1766
Side obverse
Grade 25
Service NGC
Service Catalog # 232
Denomination FARTH
Description 1766 FARTH William Pitt Farthing VF25 NGC. Betts-520, Breen-248, W-8345, R.7. 56.8 grains. The Stamp Act of 1765 passed in Parliament contained 55 individual resolutions defining duties to be paid. The preamble defined the legislation as: {blockquote}"An Act for granting and applying certain stamp duties, and other duties, in the British colonies and plantations in America, towards further defraying the expenses of defending, protecting, and securing the same; and for amending such parts of the several acts of parliament relating to the trade and revenues of the said colonies and plantations, as direct the manner of determining and recovering the penalties and forfeitures therein mentioned."{/blockquote} Under the terms of the Stamp Act, American colonists were required to pay tax on printed matter, including ship's papers, newspapers, legal documents, and playing cards, among others. Defense of the American frontier along the Appalachian Mountains required 10,000 troops, and the taxes raised were intended to cover that expense. Past taxes and duties in the colonies were measures to regulate commerce rather than raise money. Naturally, the Act was unacceptable to the American colonists, and William Pitt's efforts to repeal the legislation earned him the title of "The Restorer of Commerce," as noted in the obverse legend. Additional information about the Stamp Act and colonial reaction is summarized at the Colonial Williamsburg website, Less than a dozen Pitt farthings are known. This greenish-yellow brass example has smooth surfaces with a few splashes of maroon and steel-blue patina on each side. The strike is nicely centered on a cast flan with full borders. Ex: Richard Picker; Eric P. Newman Numismatic Education Society. Realized $30550.00. Description courtesy of Heritage Auctions.

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