Grading Service: PCGS
SKU: 143045
Cert Number: 43566325
Bring This Coin to Life
In a landmark move towards economic reform, New York set a precedent in abolishing the imprisonment for debt, catalyzing a domino effect as numerous other states swiftly adopted this more humane approach to financial insolvency. By ending the punitive practice of incarcerating individuals for failing to pay minor debts—often a consequence of creditors leveraging warrants against them—the New York Legislature initiated a significant shift towards compassionate economic policy. This reform not only liberated countless individuals from the dire circumstances of debtors' prisons but also reflected an evolving understanding of justice and economic fairness in the early 19th century. 1831 was also a year of political innovation, as evidenced by the Anti-Masonic party hosting the first presidential nominating convention in American history. This pioneering event, which saw the nomination of William Wirt, a former attorney general, as the party's candidate, marked a transformative moment in the American electoral process. The convention introduced a structured method for political parties to formally select and endorse candidates for the presidency, thereby laying the groundwork for modern political campaigning and the institutionalization of party politics in the United States. Additionally, the year witnessed a technological breakthrough with the debut journey of the John Bull, America's first steam-powered railroad engine, in Bordentown, New Jersey. Assembled by a local mechanic from parts shipped from England, and costing $4,000, the John Bull's inaugural run, though just over a mile, was met with enthusiastic acclaim from spectators. This historic moment signified the advent of the railroad era in the United States, heralding a future of enhanced mobility and economic opportunity that would forever alter the American landscape, driving commerce, connectivity, and growth in unprecedented ways.
**Source: PCGS Price Guide. Although we try to be as accurate as possible on the listed population, third party pricing and coin information, information constantly changes. We suggest you verify all information.