 John Law. Louisiana Is Both a Bank and a Mint, 1720. Betts 114, Betts II. Unsigned. Silver. 44.3 mm. 462.8 gns. Obverse: John Law standing at the mouth of a cave in which rants a personification of Envy. Law holds a scroll on which is found the word LOVISIANA, the others carefully ground off and replaced by a random series of annulets. Reverse: An inscribed dialogue between Law and Envy in 21 lines. The legends on both sides proclaim the worth of Law's Mississippi scheme and the emptiness of his critics' arguments against it. Choice About Uncirculated. A lovely example. The words EST EST BANCO ET MONETA (i.e., Louisiana is so rich it's as good as a bank and a mint for making money) were thoroughly removed from the scroll and must have been done as a counter to the otherwise supportive sentiments of the medal. Few of the Law medals is congratulatory of the Scotsman.
Ex Glendining & Company's sale of October 27, 1982, lot 474.
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