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Zerbe No. 1

First Type, 1900. Obverse: JOS LESHER REFERENDUM SOUVENIR. in the upper hemicircle; below, ONE OZ of coin / Silver / Price 1.25 / M.F.G.D. VICTOR / COLO. / 1900. Reverse: A COMMODITY / Will Give / in / EXCHANGE / Curency (sic) Coin / OR / MERCHANDISE / AT FACE VALUE / No.

When Farran Zerbe interviewed Mr. Lesher in 1914, Lesher was 74 years old and said he did not know how many pieces were struck, but he believed it to be between 3,000 and 3,500 medals. Lesher, however, did not correlate the numbering system between types and varieties.

All known writers on Lesher medals have believed that 100 pieces of this first type were struck, and all numbers were hand engraved on the medals. After a detailed, six year search, the following pieces are known numismatically. While some medals are not located in a named collector's hands today, it is considered that since they were traded numismatically, as identified below, then they are surely still in collections today. Perhaps this article will help identify new locations of the Lesher medals. All pieces listed as being in the possession of Madison Coin Box were stolen in June of 1977, and those listed in private collections have owners who prefer to remain anonymous.

Zerbe No. 1 Table

Another article appeared in the Victor Daily Record, dated Wednesday, November 14, 1900.

"The Publication of His Silver Scheme Has Caused a Sensation and a Rush For the Souvenirs -- Merchants Anxious To Use Them.

The account of Joseph Lesher's scheme to coin silver at a private mint appearing in yesterday morning's newspapers caused a sensation, not only in Victor and Colorado, but throughout the United States.

It set business men, financiers and mine owners to talking and thinking and brought novelty seekers in great numbers to Mr. Lesher's house. He and his wife had hardly begun breakfast in their little home when the rush began. It seemed that everyone in town was anxious to become the possessor of a 'referendum dollar.' One rap after another shook the front door and visitor after visitor was turned away with the assurance that there were not enough dollars on hand to go around.

The most welcome visitor of the morning was A. B. Bumstead, proprietor of the grocery on North street. Mr. Bumstead was welcome because he proposed to accept the souvenirs in exchange for groceries and give them out to anyone who wanted them in change.

This took a load off Mr. Lesher's mind, because he did not relish the idea of having his peaceful home turned into a sub-treasury. He gave Mr. Bumstead all the 'referendums' he had on hand, about 100¹², and afterwards referred all comers to the dealer in groceries. A few minutes after this arrangement had been concluded a messenger boy in blue clothes and brass buttons brought a telegram from the headquarters of the Associated Press in New York asking for details.

This matter was disposed of and the proprietors of several stores called, all of them anxious to use referendum dollars in their business by receiving them for goods and paying them out in change and clerk hire. Mr. Lesher took their names and promised to supply them with souvenirs as soon as he had some more made.

The first edition of the souvenirs is now practically exhausted and the next issue will consist of 500 pieces. These will be manufactured by the novelty works in Denver.

There are by two opinions of Mr. Lesher's scheme expressed here. One that it is feasible and will be of great practical benefit to Colorado industries, and the other that it is impractical if not illegal. The decision seems to lie with the public. If the business men, as they now seem disposed, encourage the scheme and redeem the dollars the success of the undertaking seems probable, assuming, of course, that the United States authorities do not discover some ground for interference."

Zerbe No. 2 Second Type

Bumstead - First Reverse. Obverse: A typical mountain mining scene in the upper half of the field; inscription at the top, PIKES PEAK / SILVER MINE; below, A COMMODITY / WILL GIVE / IN EXCHANGE / MERCHANDISE / A.B. BUMSTEAD / No. Reverse: Legend around top, JOS. LESHER REFERENDUM SOUVENIR; in center of upper half is the device from the seal of the State of Colorado, with motto NIL SINE NUMME (Nothing without God) separating 1.OZ. and COIN; below, SILVER / PRICE 1.25 / M'F'D. VICTOR / COLO. / 1900. Scrolls are in the field left and right of the Colorado State seal.

While the article of November 14, 1900 stated there would be 500 pieces struck as a second edition, and Farran Zerbe in his published article stated that 600 medals of this second type were made, it is highly unlikely that more than 210 were actually struck¹³. This conclusion is reached based on the following known numbers.

Zerbe No. 2 Second Type Table

Not only was Mr. Bumstead the first merchant to use Mr. Lesher's scheme, but the success was emphasized with a second order from Bumstead. Again "A.B. Bumstead" appeared on this new issue; however, a new type was created.

Zerbe No. 3 Bumstead Type, Second Reverse

The mining scene and wording is the same as Zerbe No. 2; however, the reverse is without scrolls in the field on both sides of the Colorado seal, and no line about the word "COLO."

Zerbe stated in an article that, "...It is presumed that 1000 were struck..."¹⁵ of this Bumstead Type II, and numbers are listed below from 600 to 1741. It is noted that only 7 pieces are known above number 1000. Therefore, it is this writer's contention that there were not more than 500 Zerbe No. 3 medals struck, again based on the following known numbers.

Zerbe No. 3 Bumstead Type Table

During Farran Zerbe's interview with Mr. Lesher in 1914, Zerbe reported that Lesher said, "Not many days elapsed after the production of the first Leshers before their producer had a call from Government officers. He now tells amusedly that on his compliance with their request to see the dies, they pulled out a little sack into which they put the dies and walked away, and I never saw the dies again."¹⁶ This action was taken because the officers claimed the medals were used as though they were coins, thus contrary to U.S. law. However, nothing can be found in the many newspaper articles on Lesher's new project with reference to confiscated dies, and such news would have been "hot" and very printable. Dr. Whiteley, in his article¹⁷ suggests that Lesher was in trouble with the government after he minted his Bank Type.

Zerbe No. 4 Bank Type

Obverse: Upper half same as Zerbe 3; inscription in lower half, A COMMODY / WILL GIVE MERCHANDISE OR CASH / AT ANY BANK / No.; at the bottom, in a curved line, AT BULLION VALUE. Reverse: same as Zerbe No. 3.

This writer also believes that it was now that Lesher was in trouble with the U.S. Government. In stating on the medal that they would be redeemed at any bank in merchandise (what type of merchandise from any bank was not known) or cash, Lesher was competing with legal tender and it was probably on this basis that Government officers confiscated the Bank Type dies.

Lesher told Zerbe that only 5 Bank Type medals were struck, and Whiteley listed 6 pieces.¹⁸ Listed here are 9 Bank Type medals known to this author.

Zerbe No. 4 Bank Type Table

Remaining with pieces dated 1900, is one now listed of which Zerbe was not aware. This medal has been given a Zerbe number - No. 17 - by this writer, for purposes of conformity. Dr. Whiteley introduced this new type¹⁹ giving its name "Trade Mark Applied For."

Zerbe No. 17²⁰ Trade Mark Applied For

Obverse: Legend at top, TRADE MARK APPLIED FOR. Also, A / COMMODITY / WILL GIVE / IN EXCHANGE / MERCHANDISE / AT No.. Reverse: same as Zerbe No. 3.

Whiteley suggested that Lesher struck this piece thinking it was necessary to be submitted when applying for a trade mark. Only one piece of this type is known.

With the new year, 1901, the weight, size and price of the next Lesher type was reduced. The new diameter was 32mm, the weight 412 1/2 grains (as was the standard weight of a U.S. silver dollar), and the new price $1. This new type, the sixth and final type known, is called the Imprint Type, which has a blank field for adding business names and addresses. When such imprints were added, they became varieties of the Imprint Type.

Zerbe No. 5 Imprint Type

Obverse: Mining scene with a few minor changes from Zerbe No. 2 (an example is the ears of the donkey, lower left corner of the scene). Below, IN THE PEOPLE WE TRUST / A COMMODITY / WILL GIVE / IN EXCHANGE / MERCHANDISE AT / No. A space was provided just above "No." for a business imprint. Reverse: JOS LESHERS REFERENDUM SILVER SOUVENIR MEDAL, in legend at top; seal of State of Colorado, as on Zerbe No. 2, dividing PRICE and $1, with U.S. PATENT on left, and No. 62,695 on the right. Below, TRADE MARK REG. U.S. PAT. OFF. / No. 36,192 Apr. 9, 1901./DESIGN PAT. APR. 16, 1901/M'F'D'/VICTOR COLO./ 1901.

All imprints were die struck with numbers to be added. They are known both with and without numbers. Those known by this writer are listed.

Zerbe No. 5 Imprint Type Table

After Lesher's trouble with the government, he changed the wording, adding "SILVER" and "MEDAL" to the dies dated 1901.

Lesher admitted to Zerbe that he did not keep good records, and he did not know how many pieces of each type and variety were made. It is believed that 1050 pieces of this Imprint Type were struck for stock, on which a merchant's name could be added. Assuming this 1050 quantity true, each time we add a variety we reduce the remaining stock of Imprints. The eleven varieties follow.

Zerbe No. 6 Variety

Same as Zerbe No. 5, except stamped into the obverse field, J.M. SLUSHER / CRIPPLE CREEK, COLO. The pieces were serially numbered.

Mr. Slusher was a grocer, 165 Bennett Ave., in the mining town of Cripple Creek, Colo. An analysis of the numbers listed below, concludes that 260 Imprints were stamped SLUSHER.

Zerbe No. 6 Variety Table

Keeping a running count on the Imprints, the removal from stock of 260 to be stamped SLUSHER, leaves 790 Imprints.