In the upcoming Heritage Long Beach Signature Auction is a popular Conder token highly desired by collectors of American colonial coins. The New York Theater Penny Token, graded Proof 64 Brown by PCGS, is a 35mm token often referred to as a penny because of both its size and the lettering on its edge.

The late Walter Breen estimated 10-12 pieces known, but in February 1993 Don Scarinci presented a census of 13 pieces in the Colonial Newsletter. The legendary John J. Ford Collection had two of the 13 known examples of this early and extremely rare penny token.

In 1794, John Kleeberg demonstrated that this token was one of the so-called Conder series popular in Britain in the 1790’s. Made for collectors, this token is generally found in high grades, and most known pieces are proofs.

Peter Skidmore struck The Theatre at New York penny tokens in London from dies engraved by Benjamin Jacob, who issued several tokens including one for himself in 1798 where he was identified as an “AUCTIONEER, IRONMONGER & c” at Welsh Cross in Birmingham. That token and the New York Theatre token were made with hand-cut letters rather than punches. Jacob also did an entire series of halfpenny tokens depicting London churches and gates based on copperplate engravings. The use of the final S on the New York Theatre token may signify the possessive Jacob’s.

Jacob did most of his diemaking work, including the Theatre token and the London church series, for Skidmore, who manufactured the tokens at his metalwork factory. Skidmore and his father were partners from 1797 through 1809 in Skidmore and Son, makers of stove grates. Likely to capitalize on the late-19th century collector craze for Conder tokens (which were first produced for much the same purpose as the later Civil War merchant tokens), the son expanded into tokens, produced in their factory at 15, Coppice Row, Clerkenwell, and sold at the store at 123 High Holborn Street, London. Token expert Russell Rulau comments that “there is no indication that these pieces ever had any connection with the theater; the memoirs of William Dunlap, the manager at the time, do not mention them.” Jacob apparently copied his building engravings from printed materials: The view of the Park Theater comes from a 1797 New York City directory.

Most known specimens are proofs. This piece is unusual in that it shows no signs of die buckling, but as mentioned it has some diecutter’s marks on each side that provide pedigree identifiers. The strike is bold, but slightly off from center toward 10:30 on the obverse, judging by the varying distance between the edge and the beaded inner border. Although the edge cannot be seen through the PCGS PR64 slab, there appear to be traces of edge lettering present; pieces lacking the edge lettering are unconfirmed. The edge reads I PROMISE TO PAY ON DEMAND THE BEARER ONE PENNY X.

Both sides are lustrous, with delightful medium olive-brown coloration and small flashes of blue and pink patina. PCGS has certified two pieces each in PR64 Brown and PR65 Brown.

For collectors of Early American, Colonial, and Conder tokens, this penny token represents a significant opportunity that is unlikely soon to repeat.