1787 NY 1/2P Excelsior, Indian/Arms, BN PCGS号436

Ron Guth

Only a dozen or so examples are known of this rare type that features a standing American Indian on the front of the coin, holding a tomahawk in one hand and a twisted bow in the other.  The reverse features the Arms of New York, with two female figures flanking a shield surmounted by a small eagle atop a half globe.  The word EXCELSIOR and the date 1787 appear at the base of the reverse. 

The best example of the 1787 Excelsior Indian/NY Arms is the Gem Uncirculated example from the Eliasberg Collection, sold in 1996 for $143,000 (and worth considerably more today).  All other examples are circulated, usually in Fine to Very Fine.  On average, this type appears at auction about once every four or five years, thus opportunities to purchase an example are few and far between.