1809 James Madison Indian Peace Medal. Silver. Second Size. Julian

Scarce Second Size Madison Peace Medal in Silver 1809 James Madison Indian Peace Medal. Silver. Second Size. Julian IP-6, Prucha-40. Very Fine. 62.8 mm. 100.6 grams. Neatly pierced for suspension at 12 o'clock, as is consistent with all issued Madison medals of this size. Though the original suspension loop is lost, it was apparently long ago replaced. The replacement loop is not simply a soldered single band, but a band with looped ends through which it is closed by a small pin. This is similar to the construction of the original loops on George III medals and those of the Andrew Johnson administrations. The initial impression is pleasing for an obviously issued and worn medal. It is clear that the piece was cared for by its recipient, a tale told by the polished surfaces, but the silver has nicely toned over the years with pleasant steel blue close to the rims and some lighter golden brown mottling elsewhere. Up close the surfaces show all of the evidence of a worn medal, with myriad small nicks and scratches. A series of heavier scratches, obviously of considerable age, are noted behind Madison's head, suggesting that something might have been removed-perhaps an added artistic element or something that might have identified a past owner. However, those lines are clearly worn from years of continued use after the fact. Nice detail and pleasing overall. This obverse die seems to have begun to crumble very early, perhaps during the hardening process, as rim breaks are seen on the medal between the large raised rim and inner border, intermittently around three quarters of the circumference. These breaks are seen to varying degrees (somewhat limited by illustration quality) on all images of silver originals we have seen. Though the Madison medals are dated 1809, corresponding to the president's first term, no Madison medals were finished and delivered until 1814. Contemporary reports, according to Prucha, indicate that 100 were certainly made of this size (in 1815). It is also possible that a small number were among those dozen first finished and delivered in 1814. Carl Carlson recorded 11 auction appearances of the second-size Madison in his study, published in 1986. When the Ford Collection was cataloged it was estimated that fewer than 25 survived. The present writer's own survey has revealed 19 distinct known specimens with six of these in institutional collections. This has not been offered at auction in two decades. Provenance: Ex Estes G. Hawkes; our (Stack's) sale of the John J. Ford Collection, Part XVI, October 2006, lot 115. Click here for certification details from NGC.

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