1787 COP PAT, EAGLE REV IMMCOL MS64 Brown
IMMUNIS COLUMBIA. TIED WITH TWO OTHERS FOR HIGHEST GRADED.
NGC Graded Higher:
Before the constitution came to be the United States was loosely governed by the Articles of Confederation from 1778 to 1789. This document allowed each state to mint individual coins legally. Not surprisingly separate state coinage proved to be chaotic. Due to the chaos the US started a competition to select a National Coin die in 1786. These coins, embellished with the words immunis Columbia, meaning America Free from Tax, were said to be a part of this contest. However, it is likely that these were not an entry and were minted as late as 1788-89 by a Matthias Ogden in New Jersey, rather than New York.
New Jersey would make the most sense for the origins of this coin because New York often refused to mint copper coins during this time regardless of the major silver and gold shortage in the U.S. Additionally, in an effort to comply with the newly drafted U.S. Constitution, which the state of New Jersey ratified on December 18, 1787, it is likely a proposed national coin would originate from the newest state of the Union.