(1659) MD 1S Lord Baltimore (Regular Strike)

The Colonial coins of Maryland were issued as part of a private coinage by Cecil Calvert, the second Lord Baltimore, sometime in 1658-1659 and possibly later. Calvert became heir in 1632 to a huge expanse of land that later became Maryland. He believed his Royal Charter permitted him to strike coins, which were needed to help stabilize Maryland's agrarian economy. However, once the coins were issued, Calvert was ordered arrested and some (or perhaps all) of his coins and equipment were confiscated. No record of the proceedings against Calvert have been uncovered, but the existence of the coins and the fact that Calvert lived until 1675 indicate that he prevailed. All of the coins are scarce to rare today.

The PCGS Population Report gives a good indication of what is available to collectors. PCGS (as of March 2014) has certified 38 examples, the majority of which grade either XF or AU. None have been graded by PCGS below Fine and only one (a PCGS MS61) has been certified as Mint State. Maryland Shillings are not known for being well-struck, thus collectors should demand coins that are as original as possible (which, in itself, might be a challenge).

The price record for this issue is held by the PCGS AU58+ that sold in 2008 (as an NGC AU58) for $126,500.