Betts-115, Adams S-8 variety, struck in Silver. 26mm.

Often collected as part of the John Law series, this is a fascinating medal with the obverse personification of commerce very dead on the ground surrounded by the legend CREDIT IS DEAD AS A RAT.

The reverse legend BANKRUPTCY IS THE FASHION surrounds a well coiffed man possibly turning his back on those in need of credit.

The piece itself is a nice coin gray AU with colorful toning in the devices and might well be the finest surviving example of this enigmatic issue.

Ex Stack’s January 2006 sale of the Ford Collection, Part XIII, lot #583; earlier Henry Christensen’s September 1967 sale, lot #291.

$6,500

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