Premier and Emporium Auctions
Fri, May 15, 2020 09:00AM EDT
Lot 945
D.L. Lapsley Merchant Token
Estimate: $2,000 - $3,000
Bid Increments
| Price | Bid Increment |
|---|---|
| $0 | $25 |
| $100 | $50 |
| $1,000 | $100 |
| $2,000 | $200 |
| $3,000 | $250 |
| $5,000 | $500 |
| $10,000 | $1,000 |
| $20,000 | $2,000 |
| $50,000 | $5,000 |
| $100,000 | $10,000 |
(1861-1865), F-690C-8a, "25" reverseNote: Daniel Lapsley was an African-American barber in Nashville from 1863 to 1870, at times with business partner Alfred McKay and other times on his own. In the era of Southern Reconstruction, Lapsley abandoned cutting hair to hold positions as a teacher, Justice of the Peace, and lawyer.?The token being offered here represents one of the earliest usages of merchant scrip by an African-American proprietor in the United States.There are no recent auction records to cite, however, going back more than a decade yields the following results on two similar Lapsley tokens: May 2003 for $3,450 and September 2007 for $4,456.25 (both Heritage Auctions)Provenance: Property of a Southern GentlemanNote: Daniel Lapsley was an African-American barber in Nashville from 1863 to 1870, at times with business partner Alfred McKay and other times on his own. In the era of Southern Reconstruction, Lapsley abandoned cutting hair to hold positions as a teacher, Justice of the Peace, and lawyer.?The token being offered here represents one of the earliest usages of merchant scrip by an African-American proprietor in the United States.There are no recent auction records to cite, however, going back more than a decade yields the following results on two similar Lapsley tokens: May 2003 for $3,450 and September 2007 for $4,456.25 (both Heritage Auctions)
graded by NGC as VF30BN
