Antiques

Colonial History Duel of Collectors & Investors: Paul Revere vs. Ephraim Brasher

It is undeniable that the collectibles sector has matured into an alternative asset class. No longer are hobbies and collections kept locked away for only occasional viewing. Collectors now routinely are in direct competition with investors for the exact same asset in auctions. This puts those with a passion to own against those who just want to buy an asset and then sell for a profit.

Every older American knows the name Paul Revere from the American Revolution. Collectors and investors alike have purchased some of his silver works. But what about Ephraim Brasher?

Collectors Dashboard knows that being the most well known doesn’t mean they have the most expensive works. In fact, Revere’s existing items might not even be the most sought after in some categories. This is where scarcity and historical importance meet. This is also where Colonial War veteran and silversmith Ephraim Brasher comes directly into focus.

Paul Revere may feel like he would be having a “But, what about me?” moment here if he was alive today. Unfortunately, there just are no historical pieces that are known to have recently sold as a hallmark to his “The Redcoats Are Coming!” historic ride.

Ephraim Brasher was a Colonial War veteran who has been documented in more than one famous battle. He was a well-respected silversmith and goldsmith in Colonial New York and his mark ‘EB’ was affixed to his works. During his time in history, consistency was not common. Many surviving examples from coins to silverware to serving spoons have been sold.

Brasher’s pieces, particularly ‘EB’ stamped coins of the period, are highly sought after collectibles. It is also obvious that investors may win the fight here if items aren’t headed into a museum.

Brasher is a missing connection to many of the early Colonial collectibles with historic importance. These may bring interest from collectors and investors alike. By the high sale prices, these are much larger than the average purchase of stocks and bonds in traditional investing. Let’s throw in that they are higher priced than most real estate investments as well.

Brasher’s respectability was perhaps best displayed after the war as George Washington’s next door neighbor in New York during the years of 1789 to 1790.

Here is why collectors and investors alike have to care about Ephraim Brasher, even over Paul Revere. Brasher’s ‘EB’ mark is stamped on the most valuable gold coin in the world. Revere’s recent sales were also impressive and were for far higher than similar Brasher items outside of the gold coins.

This is the so-called Brasher Doubloon. It was American Colonial minted in 1787 and sold in January of 2021 by Heritage Auctions for the standing record of $9.36 million.

The Brasher Doubloon coin itself is not legal American tender by modern view. The coin is categorized as a private bar in the shape of a coin according to CoinsWeekly. Colonial America had coins from all over the world used for all forms of transactions. For the purpose of history, it was not until 1792 that the United States began minting legal coinage.

CoinsWeekly identified that Brasher sold four silver spits to George Washington in the year 1792. The spits would have the stamp ‘EB’ on them in the same style and font as both existing coins and his silver spoons. Recent sales of Brasher spoons have been impressive, but still attainable and affordable for Colonial collectors or investors who think the period may see interest ahead.

Heritage Auctions has recorded many key Brasher sales in 2021 alone. Collectors Dashboard might even recognize that April 23, 2021 should (almost) be dubbed National Brasher Collectors Day. The auction house sold enough items that this may even keep Brasher’s name front and center for some time. Here are the 2021 sales of just spoons that were seen:

  • Ornate Silver Ladle by Ephraim Brasher sold for $3,240.00 on April 23, 2021
  • Silver Spoon by Ephraim Brasher sold for $1,080.00 on April 23, 2021
  • Silver Tablespoon by Ephraim Brasher sold for $1,200.00 on April 23, 2021
  • Silver Tablespoon by Ephraim Brasher sold for $1,320.00 on April 23, 2021
  • Two Silver Teaspoons by Ephraim Brasher sold for $1,080.00 on April 23, 2021
  • Two Silver Tablespoons by Ephraim Brasher sold for $1,680.00 on April 23, 2021

It is possible that other Brasher items sold as well, but these were the other silver pieces from the same Heritage Auctions sale:

  • Silver Bowl with Socket for Detachable Handle by Ephraim Brasher sold for $2,040.00 on April 23, 2021
  • Silver Cann by Ephraim Brasher sold for $4,080.00 on April 23, 2021
  • Large Silver Tankard by Ephraim Brasher sold for $7,800.00 on April 23, 2021
  • Silver Teapot Stand with Three Feet by Ephraim Brasher sold for $3,840.00 on April 23, 2021
  • Silver Teapot with Wooden Handle by Ephraim Brasher sold for $7,200.00 on April 23, 2021
  • Silver Sugar Urn by Ephraim Brasher sold for $2,880.00 on April 23, 2021
  • Silver Sugar Urn by Ephraim Brasher sold for $3,600.00 on April 23, 2021

Another piece from the same April 23, 2021 auction may also be up for grabs ahead. The listing for a Silver Sugar Urn by Ephraim Brasher sold for $5,520.00 on April 23, 2021 and it comes with the notation “make offer to owner $8,280 or more.”

Again, the most widely publicized and sought after gold coins are the Ephraim Brasher Doubloons. Any of these will command higher prices than all of the above (and related) items combined. This is where collectors and investors alike will go into a frenzy. A Brasher Doubloon has sold for more than the prized 1933 “Legal” Double Eagle $20 Gold Coin.

Heritage Auction has handled several sales of coins with Ephraim Brasher stamps. This includes the style that holds the highest price ever paid for a gold coin at $9.36 million on January 21, 2021. That coin’s population is just one of 6 examples of this style according to PCGS. There is a seventh example but with a different ‘EB’ stamp location on the gold coin.

Of the six Ephraim Brasher stamped 1787 $15.00, Wing Punch variety ‘EB’ is stamped in the wing of the eagle on the reverse. That seventh coin of the style is the only known example with ‘EB’ punched on the breast shield of the eagle on the reverse.

While these are the most limited, there are 13 other known examples of Brasher stamped gold coins of various issuance and all have the ‘EB’ mark. The countries represented in Brasher gold stamps include Brazil, Portugal, Guinea, France, and a (1784-95) $15 Baltimore Doubloon C/S Standish Barry (Regular Strike) considered according to PCGS to be a U.S. Colonial Issue.

Known Auction Prices paid and history (provenance) for all 20 compiled by PCGS for the six examples of the 1787 $15 Brasher, Wing Punch (Regular Strike) have been shown below (by PCGS):

  • MS63 estimated grade for $725,000
  • MS62 estimated grade for $4,582,500
  • AU55 PCGS grade $2,415,000
  • AU50 estimated grade B. Max Mehl sold privately in 1933 to Lammont duPont and then owned by Willis H. duPont (stolen October 1967, recovered July 1968) – price unknown.
  • AU50 estimated grade Found by unidentified laborers digging a cellar in Philadelphia in 1897, cost estimated as $3,900 but price unknown.
  • VF25 estimated grade rescued by Adam Eckfeldt from gold coins deposited at the U.S. Mint for assaying and recoinage, sometime prior to 1838 – Mint Cabinet – National Numismatic Collection at the Smithsonian Institution.

Another sale that has been seen in the last decade was a 1787 gold Brasher Doubloon in December 2011 — for $7.4 million, by Blanchard & Co. of New Orleans.

Collectors Dashboard would not want Paul Revere to have the worrisome “But, what about me?” moment. His contribution in the revolution was simply too great and his name is far more famous to most historians and history buffs. We have sought out some of his recent and past items that have come to auction, and one item he obviously deserves more credit for is in his silversmith items. Those sale prices might even make Mr. Brasher ask “But, what about me?” to the buyers.

Paul Revere Jr. American patriot and colonial silversmith, Heritage Auctions:

  • May 20, 2021 A Paul Revere Jr. Silver Tankard, sold for $112,500.00
  • May 20, 2021 Six Paul Revere Jr. Silver Tablespoons, Boston, ~1796. Marks: REVERE sold for $55,000.00
  • May 20, 2021 Six Paul Revere, Jr. Silver Table Spoons, Boston, ~1790. Sold for $40,000.00
  • April 16, 2011 American Patriot Paul Revere Silver Tablespoons, ~1790-1800 sold for $83,650.00
  • December 2, 2017 Paul Revere Silver: A Large Coin Silver Table Spoon with Interesting Modification. Sold for $6,250.00
  • December 2, 2017 Paul Revere Silver: Two Diminutive Coin Silver Tea Spoons. Sold for $6,250.00

Sotheby’s Paul Revere recent sales are as follows:

  • January 22, 2021; 2 American silver teaspoons, Paul Revere Jr. sold for $12,600.00.
  • January 22, 2021; 1 American Silver Tablespoon, Paul Revere Jr. sold for $13,860.00.
  • January 26, 2020; 1 American Silver Porringer, Paul Revere, Jr. Boston, ~1780 sold for $52,500.00.
  • January 20, 2019; 1 American Silver Tablespoon, Paul Revere, Jr. Boston, ~1790 sold for $17,500.00.
  • January 21, 2018; 1 pair of American silver tablespoons, Paul Revere, Jr. ~1790 sold for $15,000.00.
  • January 23, 2016; 1 set of 4 American Silver spoons, Paul Revere, Jr. ~1795 sold for $35,000.00.

Christies’ Paul Revere recent sales are in a search of their site has not been as recent as other auction sites. These still seem to be important sales for a reference to today’s dollars, as follows:

  • January 22, 2009 An Important Silver Soup ladle Owned By Paul and Rachel Revere. Mark of Paul Revere, Boston, ~1780 sold for $74,500.00
  • January 15, 1999 A fine Silver Quart Cann Maker’s Mark of Paul Revere, Boston, ~1770 sold for $51,750.00
  • January 20, 2000 An Unusual Silver Beaker Maker’s Mark of Paul Revere, Boston, ~1765 sold for $18,400.00
  • January 20, 2000 A Silver Tablespoon Maker’s Mark of Paul Revere, Boston, ~1770 sold for $9,200.00
  • January 20, 2000 A Fine Silver Quart Cann Maker’s Mark of Paul Revere, Boston, ~1768 sold for $107,000.00
  • January 23, 2013 A Silver Tablespoon Mark of Paul Revere Jr. Boston, ~1789 sold for $13,750.00

Buying a coin for $9 million or more may be unattainable for almost every collector or investor of historical items. Then again, simply for the price of admission, anyone can go see the Smithsonian’s coin on display at its National Museum of American History in Washington, D.C.