The Importance of Provenance: Tracking the History of Small Medal Big Cameo Washington Lincoln

A coin or medalet with a famous pedigree can command double the price of an identical anonymous piece. So let’s explore the ownership history potential here.

As a numismatic researcher who has spent decades studying early American medalets, I can tell you that few areas of the hobby generate as much excitement — and as much confusion — as the intersection of provenance, attribution, and the mysterious origins of 18 mm Washington-Lincoln medalets. The forum thread that inspired this post began with a simple question: a collector had acquired what appeared to be a stunning example of the so-called “Small Medal Big Cameo Washington Lincoln” medalet, and the community quickly rallied around questions of origin, grading, and — most importantly — where this piece had been before it landed in its current owner’s hands.

What Is the Small Medal Big Cameo Washington Lincoln?

Before we can discuss provenance, we need to understand exactly what we’re dealing with. The “Small Medal Big Cameo Washington Lincoln” refers to an 18.0 mm medalet weighing approximately 41.9 grains, featuring a Washington obverse paired with a Lincoln reverse. The term “Big Cameo” describes the visually striking contrast between the deeply frosted motifs and the deeply mirrored fields — a cameo effect that is dramatically pronounced on this particular variety.

What makes this piece so fascinating — and so controversial — is its uncertain origin. As forum member Jonathanb noted, “Musante calls that a non-Mint issue. He might be right. There are no records saying that it was struck at the Mint. On the other hand, there are no records saying that someone else produced these.” The quality is undeniably high, which has led to decades of debate about whether these were officially sanctioned US Mint products or privately produced pieces of exceptional craftsmanship.

Key Physical Characteristics

• Diameter: 18.0 mm (the “small” designation distinguishes it from the larger 25 mm version)
• Weight: 41.9 grains
• Composition: Likely silver, possibly gold in some examples (one collector noted their piece was “much too light” for gold)
• Finish: Brilliant with unbroken frost on motifs and deeply mirrored fields
• Die characteristics: Patches of light die spalling leaving faint marks in the fields (as made)

The Provenance Trail: From Pack to E Pluribus Unum to Stacks

This is where the story gets truly compelling. The specific medalet discussed in the thread came with a documented chain of ownership that any numismatist would envy. Let me walk through the provenance as it was shared by forum member SeattleSlammer:

Provenance: From the John M. Pack Collection. Earlier from our sale of the E Pluribus Unum Collection, November 2020, lot 4383.

For those unfamiliar with these names, let me explain why this matters. The E Pluribus Unum Collection sale at Stack’s (now Stack’s Bowers) in November 2020 was a significant event in the medalet world. When a major auction house like Stack’s devotes individual lots to these pieces, it signals that the collecting community has reached a level of maturity where specific varieties are being carefully cataloged and sold with full documentation.

The John M. Pack Collection represents another layer of pedigree. Pack was a well-known collector whose name appearing in a provenance line immediately adds credibility and desirability. When I see a piece that has passed through a named collection like Pack’s, I know that at least one serious collector has already vetted and valued the item.

Why Named Collections Matter

In my experience grading and researching numismatic items, the presence of a named collection in the provenance can dramatically affect both price and numismatic value. Consider these famous collections that have shaped the market:

• Louis E. Eliasberg Sr. Collection — The most famous numismatic collection ever assembled. An “Eliasberg” pedigree on any coin or medal can add a significant premium.
• James Pogue Collection — Known for extraordinary quality and rarity. Pogue pieces routinely set auction records.
• John M. Pack Collection — Specialized in early American medalets, adding scholarly weight to any piece from this collection.
• E Pluribus Unum Collection — A curated collection that was sold intact, providing a clear ownership timeline.

The Washington-Lincoln medalet discussed here benefits from two named collection appearances, which is remarkable for a variety that is “not exactly common — none of the medalets from this period are common — but it is often found in mint condition when it is found at all,” as Jonathanb observed.

The Bezel Connection: Physical Evidence of Authenticity

One of the most intriguing aspects of this particular medalet is its original period suspension bezel. The Stack’s catalog description noted:

“This was long sealed in its original period suspension bezel, covered in glass, explaining the superb quality that is obviously better than the assigned grade indicates. The lovely bezel, with black borders indicative of mourning, is included.”

The black-bordered bezel is a critical detail. In the context of Washington-Lincoln medalets, the mourning borders suggest a commemorative purpose tied to Lincoln’s assassination, which would place the production date in 1865 or shortly thereafter. The fact that the crystal was accidentally broken after the previous sale is unfortunate but also tells us something important: the bezel had been intact for what was likely over a century, protecting the medalet in its original state.

Jonathanb made a particularly astute observation about the bezel evidence:

“I view that bezel as one of the stronger arguments for this being a US Mint medal. There are a decent number of known examples of those bezels containing an 18 mm medalet, probably at least a few dozen. Almost all of the medalets enclosed in bezels are Julian-listed US Mint medals. This is the only example I know of that was in a bezel despite not being listed in Julian.”

This is a crucial point for provenance researchers. The Julian reference (referencing R.W. Julian’s extensive work on US Mint medals) is the standard attribution source for official Mint products. The fact that this particular variety appears in period bezels alongside confirmed Julian-listed medals — yet isn’t itself listed in Julian — creates a fascinating attribution puzzle that provenance research can help solve.

Known Julian-Listed Varieties Found in Bezels

According to Jonathanb’s research in the Stack’s archives, the following PR-numbered varieties have been confirmed in period bezels:

• PR-25
• PR-26
• PR-28
• PR-29
• PR-30
• PR-33
• PR-35
• PR-41

Some of these have multiple confirmed examples, suggesting that the bezel mounting was a standard practice for certain varieties. The Washington-Lincoln medalet, while not Julian-listed, fits this pattern — which is itself a form of circumstantial provenance evidence.

Grading and Population: Rarity in Context

The original poster noted that “only 2 graded by our host it seems with this being the top pop.” This is a critical data point for any provenance discussion. When a variety has an extremely low population at the major grading services, it means that:

1. Survivorship is low — Few examples have survived in collectible condition.
2. Authentication is challenging — With so few graded examples, comparing attributes becomes difficult.
3. Provenance becomes even more important — When you can’t rely on a large population for comparison, documented history becomes your best authentication tool.

The Stack’s description graded the piece as “brilliant and absolutely choice” with “almost no handling… save for a trivial mark on Washington’s cheek.” The fact that the piece was sealed in its bezel for most of its existence explains the exceptional preservation — and also explains why the assigned grade might not fully reflect the medalet’s true quality. The luster and eye appeal speak for themselves.

Comparing the 18 mm and 25 mm Varieties

Forum member Braddick shared an example of the larger 25 mm version, graded PR-40. This provides an interesting comparison:

• 18 mm version: The “small medal” — rarer in top condition, more commonly found in period bezels
• 25 mm version: Larger, heavier, and as Braddick noted, “probably someone’s pocket piece back in the day”

The existence of multiple sizes adds another layer to the provenance puzzle. Were these produced at the same time? By the same maker? For the same purpose? These are the questions that provenance research can help answer.

How to Verify Provenance: A Researcher’s Checklist

Based on my years of experience tracking numismatic provenance, here is my recommended checklist for anyone acquiring a Washington-Lincoln medalet or similar early American piece:

1. Request all available auction records. Major houses like Stack’s Bowers, Heritage, and Sotheby’s maintain archives. The Stack’s sale of the E Pluribus Unum Collection in November 2020 is a perfect example of a verifiable public sale.
2. Check for named collection appearances. The John M. Pack Collection provenance on this piece is documented and verifiable through auction records.
3. Examine physical evidence of age and originality. The period bezel with mourning borders is strong evidence of original, period production and use. Any natural patina consistent with age adds further confidence.
4. Compare against known references. Julian’s work on US Mint medals is the standard. Even if a piece isn’t Julian-listed, its relationship to listed varieties matters.
5. Document everything. Photograph the piece, the bezel, any accompanying materials. Future researchers will thank you.
6. Consult with specialists. As Jonathanb’s research demonstrates, there are collectors and scholars actively studying these varieties. The numismatic community is often the best resource.

The Bigger Picture: Why Provenance Research Matters

The Washington-Lincoln medalet is a perfect case study in why provenance matters. Here we have a piece that:

• May or may not be an official US Mint product
• Has an extremely low population (only 2 graded by the major service)
• Appears in period bezels alongside confirmed Mint products
• Has passed through at least two documented named collections
• Was sold by a major auction house with full cataloging

Each of these data points, taken individually, tells part of the story. Taken together, they build a compelling case for the piece’s authenticity, historical significance, and collectibility. This is the power of provenance research.

As Jonathanb’s ongoing study of 18 mm medalets demonstrates, there is still much to learn. With approximately 150 related varieties to catalog and analyze, the field is wide open for new discoveries. The fact that this particular variety — the Washington-Lincoln “Big Cameo” — stands out even among its peers speaks to its eye appeal and historical resonance.

Conclusion: A Medalet Worth Watching

The Small Medal Big Cameo Washington Lincoln medalet represents everything that makes early American numismatics so rewarding. It is visually stunning, historically mysterious, and — thanks to careful provenance documentation — increasingly well-understood. The fact that only two examples have been graded by the major service, with this particular piece representing the top of the population, makes it an exceptional item by any standard. Its strike quality alone sets it apart from most survivors of this era.

For collectors, the lesson is clear: provenance is not just a nice-to-have — it is an essential component of value, authenticity, and historical understanding. A medalet that can trace its ownership from the John M. Pack Collection through the E Pluribus Unum Collection to a Stack’s auction and into a carefully documented modern collection is worth far more than an identical piece with no history.

For researchers, the Washington-Lincoln medalet offers a fascinating puzzle. Is it a US Mint product that somehow escaped Julian’s catalog? Is it a private issue of exceptional quality? The bezel evidence, the period mourning borders, and the documented provenance all point toward official or semi-official status, but the final word has not yet been written.

I encourage anyone with information about these 18 mm medalets — or better yet, additional examples — to contribute to the ongoing research. As Jonathanb put it, “I’d be very happy to hear from someone who has more information on these pieces. Or even more speculation.” In numismatic research, even speculation can lead to breakthroughs. And in the world of early American medalets, every new piece of information helps illuminate a fascinating and still-mysterious chapter of our nation’s history.

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