Previous image preload Next image preload
Back to catalog
Lot 450
image_0 image_1 image_2 image_3
Isaac Newton Nails Infamous Coin Scammer for “Counterfeiting Money for advantage” -- He Would Hang Soon!
Isaac Newton Nails Infamous Coin Scammer for “Counterfeiting Money for advantage” -- He Would Hang Soon!
image_0 image_1 image_2 image_3
Description:

Isaac Newton Nails Infamous Coin Scammer for “Counterfeiting Money for advantage” -- He Would Hang Soon!

Warden of the Royal Mint Isaac Newton issued this recognizance bond to ensure the future appearance of Nathaniel Peck as a witness against Newton’s nemesis, the counterfeiter William Chaloner. Very few Newton manuscripts have sold since the recent uptick in the market. One such sold recently at Christie’s for nearly $2 million. A signature was sold not long ago at R&R for over $26,000! A rare opportunity to get an interesting example, beautifully signed. The document is professionally matted and appears in a floating mount below a high-quality photo reproduction of Newton's portrait by Godfrey Kneller, to a completed size of 18" x 17" x .875."

On the same day Newton signed this bond, he took the "Information" of Nathaniel Peck. Peck told Newton that seven years earlier, Chaloner had brought him two pieces of iron to be turned. Chaloner was using the pieces as stamps to make French coins called pistoles. Peck also purchased counterfeit pistoles from Chaloner for 8 shillings each and sold them for 11 shillings. A few months later, Chaloner provided Peck with two counterfeit guineas, which Peck also put into circulation before Chaloner turned to Thomas Holloway as his preferred distributor.

By early 1699, Chaloner had assembled 44 depositions against Chaloner, who had been arrested in November 1698 for forging lottery tickets. Although charges regarding the lottery tickets were dropped, Newton brought three indictments against Chaloner, and Chaloner was convicted of high treason on March 3, 1699. He was hanged at Tyburn on March 22, 1699.

ISAAC NEWTON, Manuscript Document Signed, Recognizance Bond, January 25, 1698/9. 1 p., natural age-toning and some spotting get nearly fully readable and with a superb signature. Centrally folded not affecting that signature or text. An exceptional job in terms of signature and content.

William Chaloner has an extensive and interesting bio on Wikipedia:  https://en.wikipedia.org/wiki/William_Chaloner

Complete Transcript

"Midd Ss Memorand 25 qd January Anno Dom 1698 anno & Regn Regis Wm [? ? ?]
Nathanl Peck de Black Fryars London [Farnestogh sedeherast?]  10
Thos Worley de St Sepulchres London Glover 5
Symon Cross de east Aurifaber 5
Upon Condition the said Peck do personally appear at the next Genll Sessions of the peace to [? ?] [Leirdess?] hall in St John str for the County aforesaid Then and there to answer [wit?] shall [?] objected agt him touching his packing away Counterfeit money for advantage and [? ?] depart the Court without [L:cense?]
Capt @ Recogn Coramme."
[signed] "Is. Newton."

Historical Background

After suffering a nervous breakdown in 1692-1693, Isaac Newton moved to London in 1696 to take the position of Warden of the Royal Mint, then located in the Tower of London. In 1699, he became Master of the Mint, a position he held for the last thirty years of his life. Although the position was designed as a sinecure, Newton took the position seriously. He retired from his duties at Cambridge University in 1701 and used his authority to reform the currency and punish "clippers" and counterfeiters. Clippers shaved off a portion of a precious metal coin, saved the metal clippings, and melted them into bullion. Both counterfeiting and clipping were crimes of high treason, punishable by being hanged, drawn and quartered, but convictions were difficult.

In 1662, the government of Charles II began producing England’s coins by machine instead of hammered by hand. The new coins were round and produced an image not reproducible by a hammer. An edging machine put a "graining" on the edge of small coins and a motto on larger coins to prevent clipping. However, the old coins still in circulation remained subject to clipping. By the 1690s, the Secretary of the Treasury estimated that not more than one coin in two hundred was one of the machine-produced coins. Because of the extensive practice of clipping, foreign markets began to refuse to accept English silver coins at face value. The government’s response was the Great Recoinage of 1696, after which old coins would no longer pass at their face value. The government removed many of the old coins from circulation through taxation and war loans, allowing those who paid direct taxes or loaned to the government to exchange clipped coins at face value. Newton also estimated that 20 percent of the coins taken in during the Great Recoinage of 1696 were counterfeit. While machine coining and the Recoinage reduced clipping, counterfeiting ("coining") continued to be profitable.

Newton rose to the challenge of battling counterfeiters by disguising himself, frequenting taverns, and gathering evidence to identify counterfeiters. Prosecutions required witnesses, but there was no police force to locate and interview them. Instead, Newton established a network of agents in eleven counties. Newton had himself made a justice of the peace in at least seven counties, and he examined 200 witnesses, informers, and suspects between June 1698 and December 1699 alone. He prosecuted more than 100 coiners and succeeded in convicting at least 28.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

WE PROVIDE IN-HOUSE SHIPPING WORLDWIDE.

Accepted Forms of Payment:

American Express, Discover, MasterCard, Money Order / Cashiers Check, Paypal, Personal Check, Visa, Wire Transfer

Shipping

We do our own in-house worldwide shipping!

Applicable shipping and handling charges will be added to the invoice. We offer several shipping options, and remain one of the few auction houses who proudly provides professional in-house shipping as an option to our clients. All items will ship with signature required, and full insurance. Most items are sent via Federal Express, with P. O. Box addresses being sent through USPS. We insure through Berkley Asset Protection with rates of $.70 per $100 of value, among the lowest insurance rates in the industry. Our shipping department cameras document every package, both outgoing and incoming, for maximum security. In addition, we compare our shipping and handling rates against those of other auction houses, to ensure that our charges are among the lowest in the trade.

Upon winning your item(s), you will receive an invoice with our in-house shipping and handling fees included. ***We will ship to the address as it appears on your invoice, unless you inform us otherwise, immediately upon your receipt of invoice***

International shipments: In order to comply with our insurance provider, all international shipments will be sent via Fed Ex and customs paperwork will show a value of $1.00. International buyers should contact our office directly with any questions regarding this policy.

Third Party Shipping Option: If a third party shipper is preferred, the buyer is responsible for contacting them directly to make shipping arrangements. For your convenience, we have provided some recommended shippers. For your protection, we will require a signed release from you, confirming your authorization for us to release your lots to your specified third party Please copy and paste this following link into your browser: http://universityarchives.com/UserFiles/ShippingInfo.pdf. At that point, our responsibility and insurance coverage for your item(s) ceases. Items picked up by third party shippers are required to pay Connecticut sales tax. Items requiring third party shipping due to being oversized, fragile or bulky will be denoted in the item description.

Please see our full terms and conditions for names of suggested third party shippers.


After payment has been made in full, University Archives will ship your purchase within 10 business days following receipt of full payment for item.


Please remember that the buyer is responsible for all shipping costs from University Archives' offices in Wilton, CT to the buyer's door. Please see full Terms and Conditions of Sale.

February 16, 2022 10:30 AM EST
Wilton, CT, US

University Archives

You agree to pay a buyer's premium of 25% and any applicable taxes and shipping.

View full terms and conditions

Bid Increments
From: To: Increments:
$0 $99 $10
$100 $299 $20
$300 $499 $25
$500 $999 $50
$1,000 $1,999 $100
$2,000 $2,999 $200
$3,000 $4,999 $250
$5,000 $9,999 $500
$10,000 $19,999 $1,000
$20,000 $49,999 $2,500
$50,000 + $5,000