Mysteries from the Vault: Louis Gold Badge

With close to a million objects in the American Numismatic Society’s collections, the curatorial team occasionally comes across items that are mysteries to us. This series will feature some of these objects in the hopes that the collective wisdom of our readers can help us to identify and learn more about them.

******Mystery Solved! See update at the bottom of the post.********

This scalloped-edged badge or medal was found by an amateur archaeologist in fill removed from a building site in downtown Manhattan  sewage sludge removed from drains by contractors in Midtown and lower Manhattan. It measures 48 mm or just under 2 inches in diameter. Everything else we know about it is on the medal itself, which is inscribed with a name, “LOUIS GOLD” and a number, “1258.” There is no further identifying information on the reverse, though I have included an image anyways.

ANS, 2007.42.22



Have an idea about what this might be? Let us know in the comments or send us an email.



A reader has (we think rightly) speculated that this is a “tool check,” i.e., a tag that was attached to a particular tool in an industrial or construction setting that identified it as the property of the company. Individual or contract workers would thus “check out” and return tools as needed. See, for example, this eBay listing for a metal tool check from the Hudson Car Co., which includes the warning”Penalty for loss twenty five cents.”

It has also been observed that there was a man named Louis Gold who was a prominent NYC builder during the early 20th century. Gold was a Russian Jewish émigré and has a fascinating life story, which you can read more about in the profile reproduced from the Brooklyn Eagle below. The short story for our purposes is that Gold owned a large building company, one that more likely than not employed a tool check system for its workers. The inscription “LOUIS GOLD” and accompanying serial number would make perfect sense in this context.

The Brooklyn Daily Eagle, November 1, 1925 (click to enlarge)
The Brooklyn Daily Eagle, November 1, 1925 (click to enlarge)


A Rare 1866 Obsolete Bank Note

The introduction of the ‘greenback’ in 1861 marked a turning point in the history of American currency. Greenback was the colloquial term for federal paper money issued during the Civil War, which consisted of both the Demand Notes of 1861 and the Legal Tender Issues that followed. Up until the 1860s, a patchwork of state-chartered banks and other entities were emitting a vast range of paper currency, much of it of dubious worth. This panoply of paper are now known as ‘Obsolete Bank Notes’ because they were superseded by federally issued currency as the government asserted control over the money supply during the 1860s. The creation of a common currency was part and parcel of the broader war effort, and the fact that it was backed not by specie, but only by the credibility of the United States government marked a momentous change.

As part of the federal government’s move to clean up the nation’s chaotic monetary situation, the wide range of existing bank notes in circulation needed to be dealt with. Senator John Sherman of Ohio led the charge against the confusing multitude of paper money in early 1863, calling for a tax on all notes not issued by the federal government and proposing much more rigorous regulation of banks. The resulting legislation passed in the form of the National Currency Act of 1863 (now known as the National Banking Act) on February 25. The act provided a framework for a new national banking system in which state banks had to apply for a charter from the federal government. If approved, the now “national” bank deposited funds with the Treasury Department and received some percentage of those funds back in the form of  “National Bank Notes.” All of these new notes were of the same design, but entered circulation under the imprinteur of a particular bank. See, for example, this $2 note (known as a “Lazy Duece” for the horizontal 2), which was printed for the Mad River National Bank of Springfield, Ohio in 1865.

ANS, 0000.999.56396
ANS, 0000.999.56396

The new federal bank system had its advantages, and the accompanying effort to standardize American paper money proved popular with the public, but some banks were reluctant or not financially sound enough to become national banks. As a result, state bank notes continued to circulate, much to the chagrin of Senator Sherman, Secretary of the Treasury Samuel P. Chase, and other advocates of federal paper currency. It was not until 1865 that the legislation that spelled the end of what we now know as the Obsolete Bank Note Era was passed. It arrived in the form of a ten percent tax on any notes issued by state banks paid out after July 1, 1866.  This particular tax is often erroneously credited to the “National Banking Act of 1865,” a piece of legislation that does not actually exist. The specific law was in fact part of the Internal Revenue Act of 1865, which you can find here. The law worked as intended as the looming penalty pushed state banks to either convert into National Banks and/or redeem their notes. Either route resulted in the withdrawal of the multitude of soon-to-be-taxed state bank notes from circulation.

ANS, 0000.999.11633
ANS, 0000.999.11633

Among the final state bank notes issued was this attractive two-dollar note by the Diamond State Bank of Seaford, Delaware. It was printed by the American Bank Note Company and features some fine vignettes, wonderfully detailed counters, and a red tint plate. With a penned-in date of February 15, 1866, it is has the latest date of any of the obsolete note in the collection of the American Numismatic Society.


I suspect there’s more to the story of the Diamond State Bank than meets the eye. A report from a Pennsylvania newspaper in April 1866 shows that its notes were being rejected by banks in Philadelphia, so it does not seem to have been the most reliable institution. Whatever the case, this note seems to be one of the latest extant Obsolete Bank Notes, but perhaps our readers know of ones issued with later dates? If so, please let me know via email.

Matthew Wittmann

Digitization Assistant Position


The American Numismatic Society is hiring a Digitization Assistant for the Online Coins of the Roman Empire (OCRE) project. The position will involve processing the data-entry of an online database of all Roman Imperial coin types as recorded in the Roman Imperial Coinage reference series. S/he will be part of the OCRE team, report to the Manager of the project and work closely with colleagues in the curatorial department. The project is supported by a 3-year grant of the National Endowment for the Humanities.

The Digitization Assistant will populate a spreadsheet encompassing all published Roman Imperial coin-types with the characteristics of each of them and systematically check the accuracy of the corresponding information pertaining to the Roman collection. S/he is expected to work proactively in order to ensure that the OCRE project is implemented at a satisfactory speed.

Specific duties and responsibilities of the Digitization Assistant include:

  • populating the master spreadsheet of Roman Imperial coin-types
  • cross-checking the main database with the actual coins of the American Numismatic Society to ensure its accuracy
  • updating the user manual for both internal and external use
  • suggesting functionality  improvements when needed
  • collaborating with the other staff members involved with the project, including the Assistant Photographer and the curatorial staff of the American Numismatic Society
  • helping and assisting the curatorial staff with data-entry tasks and database or actual coins checks linked directly or indirectly to the OCRE project


  • interest in ancient history and/or numismatics
  • knowledge of Latin desirable but not essential
  • excellent computer skills and solid knowledge of Excel spreadsheets and Filemaker software
  • ability to handle and manage large data sets
  • attention to detail

The position is ideal for a student in classics, history, archaeology or any related field willing to be part of a high-profile project while preparing for the next stages of an academic or non-academic career. The position is for one year.

Applications consisting of a cover letter, academic resume, and the names of 2 references should be sent to

The American Numismatic Society is an equal-opportunity, affirmative-action employer.

A Digital Win, or, What 100,000 Objects Look Like

This week, the American Numismatic Society uploaded images of its 100,000th object into our online database MANTIS. The lucky coin was an aureus, a gold Roman Imperial coin from AD 196–211. It features a portrait of the empress Julia Domna on the obverse and the goddess Cybele seated in a chariot drawn by four lions on the reverse. Cybele was known as Magna Mater or the Great Mother, and her cult derived from ancient Asian beliefs that were absorbed into the Greco-Roman pantheon. Julia Domna was herself born in Syria so the coin is in many ways a tribute to Roman multiculturalism.

ANS, 1955.191.22

Our MANTIS database gives users an easy way to search or browse through the American Numismatic Society’s holdings, with records for over half a million coins, tokens, and related exonumia.
MANTISThe search field has a multitude of categories that allow you to customize your search beyond a simple keyword. For example, when you click on the box for Denomination, a list with small check boxes appears so that you can click on the units that you want to see in the search results. Most importantly perhaps in the context of this post is the “Has Images” checkbox immediately above the Refine Search button, which will limit your search results to those for which digital images are available. So, for example, if you wanted to see all the American dies in the collection, you would simply check the United States box under Department, the Die box under Object Type, the “Has Images” checkbox, and then hit Refine Search. The results will show that we have 89 dies in the US department that have been digitized. Happy Browsing!

Mantis Die Screen

Although we are all very happy to have hit the six-figure mark, we’re hardly satisfied so here’s to the next hundred thousand!

Real Currency in Virtual Worlds

Atari_Pong_arcade_game_cabinetCoins and video games were connected for the first time  with the arrival of Computer Space (1971) and Pong (1972), the first coin-operated arcade cabinets. Players began to collect coins within games with the advent of Nintendo’s Mario Bros. (1982), and soon thereafter currency collected within the game could be spent by players to purchase anything from extra  ‘lives’ to upgrades for weapons, armor, and more.

In the mid- to late 1990s with the arrival of the Internet at schools and at home, Massively Multiplayer Online games (MMOs) appeared, creating large virtual worlds that could be shared by hundreds of thousands of players simultaneously. With MMOs such as Ultima Online (1997) and EverQuest (1999), in-game economies began to appear, allowing players to exchange currency and to purchase items from others in the game.

WoW_Box_Art1World of Warcraft (2004) became the king of MMOs with over 10 million players worldwide. It saw the emergence of in-game personal banking, as well as shared accounts in the form of ‘Guild banks’ for teams of players. WoW also featured auction houses in each of its capital cities, where players could auction ‘loot’ found in the game to other players in exchange for gold, silver, and copper that were used as a shared currency throughout the open virtual world.

As MMOs such as World of Warcraft matured, players new to the game became frustrated by the amount of time needed to gain enough experience for their characters to  get to the most challenging and rewarding content. Experienced players became upset with ‘grinding,’ which refers to having to complete repetitive quests or searches in order to earn money and resources to improve their characters’ abilities. This frustration led to a demand by players for both gold and artifacts, which a new class of players — gold famers — were able to provide.  Gold farmers devoted their time in the game to finding valuable resources to sell to players for an exchange of real cash. Impatient players would also pay real money to others who would ‘level’ or advance their characters in order for them to reach the ‘cap’ or highest level.

To combat the gold farmers,  on March 15, 2015, World of Warcraft debuted a “WoW Token” that players can buy from the game’s parent company, Blizzard Entertainment, for US$20. WOW TokenThis can be used in the game to sell at auction for gold or it can be exchanged for 30 days of “free” playing time. Most MMOs are subscribe-to-play services with players incurring a monthly charge, so acquiring extra time with a token can theoretically save a player money over the long term. The WoW Token is virtual currency paid for with real money, and has no physical manifestation. Its behavior is similar to that of Bitcoin, although while sold at a fixed price in the real world, its market value fluctuates in the virtual one. As with Bitcoin, the WoW Token is depicted as flat and round, and in the case of World of Warcraft, it  is decorated simply with the game’s characteristic colors and logo.

WoW is not the only shared world game that now allows players to finance their in-game activities with real-world currency. Assassin’s Creed: Unity sells “Helix Credits” for up to US$99 (for 20,000 of these credits) that can then be used to purchase exclusive gear for a player’s character, i.e., gear that is either unique or that must be earned through multiple hours, days, and weeks of actual gameplay. In the popular FIFA 15 soccer game, players can opt to buy Fifa Coins (aka FUT coins) for up to US$90 (for 1,000,000 coins), which allow for the purchase of elite soccer players to round out a team.

The intersection of real and virtual currency is a relatively new phenomenon, and one sponsored in large part by game-development juggernauts such as Electronic Arts. What used to be an imitation of life where players earned or found cash within a game to spend within that game, has reached out into the real world. Mechanisms are now in place that allow players to spend actual money outside of the game for intangibles inside of it. One wonders about the ethics of this intersection of real and virtual currencies, and if perhaps the spirit of fair play is violated. But then again, this habit is nothing new to the world of sports and of collecting of all types. If you have the coin, you can buy your way to the top to have the very best.


For more on numismatics and video games, see my article in the new digital edition of the ANS Magazine here.

Andrew Reinhard

Counterfeiting Continental Currency

The Irish-American printer John Dunlap of Philadelphia produced this broadside in 1778/1779 at the direction of John Gibson, the auditor general for the Continental Congress. Dunlap’s most famous printing job was undoubtedly the Declaration of Independence, the first copies of which are colloquially known today as ‘Dunlap broadsides,’ but he was also the general printing contractor for the Continental Congress. This broadside is a single sheet measuring 8″ x 16″ and its heading gives a fairly precise indication of its purpose:


Which were done in Imitation of the True Ones ordered by the Honorable


Bearing Date 20th May, 1777, and 11th April, 1778. 

Library of Congress
Library of Congress

Financing the war against the British was a tricky proposition for the cash-strapped colonists, who ultimately simply printed their own paper money and embraced the convenient fiction that all of it was backed by specie. The market of course knew better, and the value of notes issued by the Continental Congress depreciated rapidly as more and more currency entered circulation. The relatively modest initial printing in May 1775 of $3,000,000 in Continental Currency was dwarfed by later emissions, like the $25,000,000 authorized by the Resolution of April 11, 1778. Continental Currency was also being devalued through the work of counterfeiters, who saw an opportunity to take advantage of the unprecedented volume of paper money circulating. For British forces and their Loyalist allies, counterfeiting was also seen as a weapon of war, as this infamous advertisement published in a newspaper from British-occupied New York City makes clear.

New York Gazette, April 14, 18777
New York Gazette, April 14, 1777

The advertisement promised “exactly executed” counterfeit “Congress notes” to any person traveling into the colonies, observing that a large amount had already been circulated and that there was “no Risque in getting them off.” To be fair, there were a variety of opportunists on both sides who were successfully counterfeiting Continental Currency, but British efforts were certainly more organized and systemic. How effective this was at undermining the currency and the larger American war effort remains an open question.

Part of the problem was not just how much paper money was being produced, but that it was so often poorly printed. The broadside mentions circulating counterfeits of a $6 bill dated May 20, 1777, and as you can see in the two specimens below, the genuine versions of this note were not exactly masterpieces in either design or execution. This was, notably, the first emission on which the appellation “UNITED STATES” appeared.

The so-called “nature printing” on these notes was a security feature based on the idea that the delicate lines of an impressed leaf were difficult to replicate, but here the effect is almost undetectable in the square block of ink on the reverses. The overall inconsistency of the print runs necessarily made counterfeits that much harder to detect. As the final paragraph of the broadside alludes to, letterforms were broken during the printing process, which raised alarms when comparing even genuine notes with one another. Adding quality counterfeits to the mix only sowed more confusion. Below is an animation of a transition between a genuine and counterfeit $8 note of May 20, 1777 mentioned in the broadside:


The broadside details how this counterfeit, which was engraved on a copper plate, was not quite able to replicate the quality and regularity of the letterforms in the genuine note, which was set by a printer using type. Still, as you can see, the counterfeit was certainly a reasonable facsimile of the original. While faking an eight dollar note was all well and good, a more attractive target were the higher denominations.

The $40 bill was the largest denomination of what are known as the Yorktown notes, since they were authorized by an April 11, 1778 resolution and printed in York, Pennsylvania, where the Continental Congress was temporarily residing. The broadside enumerates three separate fraudulent versions of the $40 note, which might have been the most counterfeited of the Revolutionary era. The problem was so serious that large numbers of these Yorktown notes were simply destroyed, and this is what makes them the rarest and most expensive notes for collectors today. The fiasco only further depreciated the already shaky Continental Currency, which at this point was worth only between a quarter to a third of its nominal value, i.e. one dollar of silver was worth three or four dollars of paper money. It only went downhill from there, and by the end of the war, “not worth a continental” had entered the lexicon for something regarded as worthless.

The handwritten annotation at the bottom of the broadside reads: “Permit no copy of these descriptions to be taken unless at the request of the Executive Authority of the State to be placed in confidential hands.” It was also singed by the auditor general of the Continental Congress, John Gibson, for whom counterfeit bills were clearly a pressing issue, but it’s unclear how great of an aid this rather simple but detailed descriptive list was in combating the problem. Still it does offer a fascinating window into the financial schemes that the American colonists relied on to fund the war and the machinations with which the British tried to thwart them.

For more on the paper money of the revolutionary period, see Eric P. Newman, The Early Paper Money of America (5th ed., 2008); Kenneth Scott, Counterfeiting in Colonial America (1957, reprint 2000); Philip L. Mossman, From Crime to Punishment: Counterfeit and Debased Currencies in Colonial and Pre-Federal America (2013).

Matthew Wittmann

Drachmas, Doubloons, and Dollars

This video featured in the American Numismatic Society’s exhibition “Drachmas, Doubloons and Dollars: The History of Money,” which ran at the New York Federal Reserve from 2002 to 2012.

Money makes the world go round. This exhibition showed the different shapes of money: coins, cowrie shells, salt, tokens, gold, paper money, credit cards and many more. Money is first and foremost a way to store wealth and make payments. It makes trade easier and lets governments, merchants, and individuals pay their debts. But money is much more than just an economic object. It can be a work of art, a political messenger, or a piece of jewelry. Since at least the Renaissance, coins have attracted large numbers of collectors. Today millions of people all over the world collect coins, medals, and paper money. Coins allow you to hold a piece of history in your own hand. By looking at the money of many cultures and periods, we not only learn about their histories and perspectives, but we also gain a better understanding of what our money tells us about our culture and society today.

 For an online version of the late exhibition, please click here.

Ask a Curator: Roman Mints

This is part an ongoing series that answers your questions about our collections. If there’s something you would like to know about, please use the ‘Contact’ form or email us directly here.

Poppy S. from San Francisco asks:

“What was the largest mint in the Roman empire?”

Although Roman authorities operated important provincial mints like Alexandria and allowed many individual cities to retain the production of local coinages, the mint of Rome itself dwarfed any other production center during the classical period of the Later Republic and the High Empire. The only brief exception to that rule was the mint at Lugdunum in central Gaul, which was hugely productive at the beginning of the 1st century. Below is an aureus bearing the bust of Emperor Tiberius struck there in 15-16 AD.

ANS, 1944.100.39239
ANS, 1944.100.39239

In terms of raw numbers, the American Numismatic Society has around 70,000 coins in its Roman collection. For those coins for which a mint has been attributed, 25,000 were struck in Rome. Coinage from Roman Alexandria accounts for the next largest mintage, with some 15,000 pieces, but these coins are also significantly over-represented in the collection, which skews the numbers a bit. Antioch (4,000), Lugdunum (2,000), and then sundry smaller collections from other Roman and provincial mints make up the remainder.


A useful tool for understanding Roman coinage is OCRE (Online Coins of the Roman Empire), an ongoing project to catalogue the holdings of the American Numismatic Society and other major coin cabinets. The database has a cool mapping option that allows you to visualize the mint and findspot data for the coins in the ever-expading database.

Gilles Bransbourg

The Pulitzer Medal

The Pulitzer Prize(s) have been awarded annually since 1917 for excellence in journalism, arts, and letters. They are the legacy of the Hungarian-born American newspaper publisher Joseph Pulizter (1847-1911), and the 2015 winners were announced yesterday for what are now twenty-one separate categories. Although the Pulitzer medal has come to symbolize the program, the only winner that actually receives a medal is the organization that receives the award for “disinterested and meritorious” Public Service, which this year went to Charleston’s The Post and Courier newspaper. The other awardees receive a certificate and ten-thousand dollars, which must be some consolation.

The medal was designed by the noted American sculptors Daniel Chester French (1850-1931) and Augustus Lukeman (1872-1935), who were both better-known for their monumental work. As the awards were being organized in line with Pulitzer’s will, Columbia University President Nicholas Murray Butler commissioned French to make a medal with an image of the most celebrated newsman in American history, Benjamin Franklin.

Metropolitan Museum of Art
Metropolitan Museum of Art

The model for the obverse is presumed to be a marble bust by the French sculptor Jean Antoine Houdon at the Metropolitan Museum of Art, where Daniel Chester French was a trustee. The reverse was originally intended to simply be text, but as they were modeling it French and Lukeman thought that too plain and added an image of a man working an early printing press. Although this touch was welcomed, the design went through several revisions before an  image of a bare-chested printer straining at the press was chosen. DCF-AL-monogramsThe artists’ respective monograms were engraved on the base of the right leg of the press. The slow design process meant that the first medals were not struck by the Medallic Art Co. of New York until 1918. The New York Times, which had won the initial Public Service award in 1917, thus received their medal late. Despite its lustrous appearance, the medal was not solid gold but silver plated with gold.

ANS, 1940.100.2142
ANS, 1940.100.2142

Done in the reigning Beaux-Arts style, it is a very well-executed design and fitting for a journalism award. The American Numismatic Society’s medal is obviously an un-awarded example. There are blank spaces where the name of the winning organization would be inscribed in the exergue on the obverse and for the date above the printing bed on the reverse. The legend HONORIS CAUSA simply means “for the sake of the honor,” while the descriptive text on the back is the language from the citation. The Joseph Pulitzer medal is a truly wonderful example of American medallic art, and one undoubtedly appropriate for what has become the most prestigious honor in journalism.

For more on this golden era of medal-making in the United States, see Barbara Baxter’s ANS catalogue The Beaux-Arts Medal in America (1989).

Matthew Wittmann

Postscript: I would remiss not to acknowledge Elizabeth Fenn, who teaches at my alma mater and won the 2015 award for History. Her book Encounters at the Heart of the World: A History of the Mandan People is a fascinating study of the American Indians who inhabited the plains along the Upper Missouri River. It is a great read that deserves a hearty congratulations!

Philadelphia Sanitary Fair Tokens, 1864

Library of Congress

The United States Sanitary Commission was a relief agency created to support soldiers that fought for the Union during the Civil War. It was a private organization that raised funds, coordinated donations of basic necessities and medical supplies, and provided volunteers to care for the sick and wounded. In line with other benevolent organizations of the time, women played a leading role as the Sanitary Commission offered a way for them to make a meaningful contribution to the war effort.

Philadelphia sanitary fair catalogue & guide
Library of Congress

One of the ways that the group raised money was by organizing Sanitary Fairs, which were exhibitions that featured a panoply of art, technology, and entertainment (click on the cover image of the guide to the Philadelphia fair at left to get an idea of the range of attractions on offer). Such fairs were held all over the country during the war, but the one held in Philadelphia in June of 1864 was one of the largest. It was known colloquially as “The Great Central Fair,” and an enormous exhibition hall was constructed at Logan Square to host the proceedings. Patrons paid an entry fee and then there were a variety of goods for sale and charitable opportunities within, the profits from which were subsequently donated to the commission.  The fair occurred in the shadow of the Battle of Cold Harbor, where an ill-conceived frontal assault by Union forces had led to a frightful number of casualties. Despite the grim news from the front lines, the fair itself was by all accounts a great success. On June 16, President Abraham Lincoln paid a visit with his family, and made a rousing speech thanking the Sanitary Commission for its efforts  towards “the comfort and relief of the soldiers,” and beseeched the public for more assistance.

One of the interesting numismatic elements of the Philadelphia Sanitary Fair was a coining press for making tokens, which was operated by machinists at the US Mint.

New York Public Library (click to enlarge)

This stereoview shows the set up of the coining press at the fair amidst a thicket of American flags. The banner overhead advertised copper tokens for 10¢ each and silver for 50¢, and the ANS holds several examples of both kinds.

ANS, 1956.163.1402
ANS, 1956.163.1402


ANS, 1956.163.1401
ANS, 1956.163.1401

At 18 mm in diameter, they are almost exactly the size of a current dime, and they are not particularly rare so a goodly number seemed to have been produced during the fair. The bust might not be instantly recognizable as such, but it is George Washington, and the reverse has a simple and curved descriptive legend. The number of extant examples and the relatively high cost of the tokens vis-à-vis the materials used suggests that it was quite a successful fund-raiser.

A larger and more formal medal was also struck by the US Mint to mark the occasion. It was crafted by longtime engraver Anthony C. Paquet, and it neatly encapsulates the activities and purpose of the Sanitary Commission.

ANS, 0000.999.45520
ANS, 0000.999.45520

If you dropped the last “FOR US” part, the legend would make a nice rhyming couplet! In any case, this particular medal is I suspect a later restrike from the original dies. Together, these pieces are a useful reminder of the significant role that women and charitable organizations like the United States Sanitary Commission played in supporting the war effort and ameliorating the terrible impact the war had on the men who were fighting it.

For more on the Great Central Fair, the Library Company of Philadelphia has a small digital exhibition with lots of images that you can find here. A comprehensive contemporary account by Charles J. Stillé can be read here. On the larger and longer history of fundraising fairs in the United States, see Beverly Gordon’s Bazaars & Fair Ladies (1998).

Matthew Wittmann

A blog of the American Numismatic Society