 Planter's Bank, New Orleans, Louisiana. 1811-1815 2 Bits on Quarter Cut 8 Reales. 5.63 grams. Low 82, HT 125. Choice Extremely Fine. Exact attribution of the host coin is uncertain, but placement of letters is that shown on Rulau's illustration of HT 125 (Standard Catalog of United States Tokens, 4th Edition, p.138). Obv. Circle countermark bears an American eagle and NOUVELLE ORLEANS. Rev. Link border encloses script P.B. Generations of American numismatists associated these cut and counterstamped pieces with the influential New Orleans firm of Peuch Bein & Co., but modern research suggests the Planters Bank as a more likely issuer. Spanish colonial 8 Reales and Mexican Independence War SUD 8 Reales were cut in quarters and countermarked, including some contemporary counterfeits. These countermarked segments enjoyed wide circulation but are exceptionally rare and in demand today.
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