Matthew Stickney had a very good eye

There were many important and influential Salem collectors, and among them Matthew Stickney (1805-1894) really stands out. He remains a revered figure among coin collectors, both for his pioneering activity and the breadth and depth of his collection. He had inherited a large amount of his Continental currency from his Patriot grandfather, which he was determined to supplement with all the most important American (and some foreign) issues, and he worked with the US Mint itself and early brokers to achieve this aim. The most sought-after US coins, including the 1804 dollar (which apparently does not date from 1804 but is still referred to as the “king of American coins”), and the storied 1787 Brasher Doubloon, which seems to have had a Maltese Falcon-like hold on mystery writers and filmmakers in the mid-20th century, were all part of the Stickney Collection.

Coins were his primary passion but Stickney did not confine himself to currency. He collected Americana before there really was such a category. Anything printed—-almanacs, autographs, newspapers, diaries, election sermons, pamphlets and printed images. He collected Nathaniel Hawthorne, whom he must have also known. He was a genealogist and a historian. Stickney was an Essex County native, and spent most of his life at 119 Essex Street in Salem, a building that has not survived. Following his death in 1894, his three unmarried daughters retained his collection for quite some time before consigning much of it to two very noteworthy auctions held in 1907: a coin sale in Philadelphia in the June, and all of the American collections in Boston in November. Both made considerable headlines and set price records. Christian Remick’s perspective of an occupied Boston Harbor seems to have been (re)discovered at this time, and the papers also took note of the pamphlet recording an important debate at Harvard University, A Forensic Dispute on the Legality of Enslaving Africans, held at the Public Commencement in Cambridge, New-England, July 21st, 1773.

Matthew Stickney and his collections are interesting subjects quite apart from their context, but if we widen the lens a bit we can appreciate the “collecting culture” that was present in Salem in the nineteenth century, and later, centered around one of the two founding institutions of the present Peabody Essex Museum: the Essex Institute. We hear more about the role of the other founding society, the Peabody Museum, which was established in 1799 as the museum for the East India Society and operated as a  “cabinet of natural and artificial curiosities” collected by the Salem sea captains on their voyages around the world. The Essex Institute’s origins were in the realms of local and natural history, and like the Peabody, its members were engaged in forming its collections, but also in a vibrant intellectual community focused on scholarship and the presentation of research on these same collections. Matthew Stickney did not go to university: he was born in Rowley, Massachusetts and educated in the public schools there. In his twenties, he headed south to Peabody and Salem and worked as a retailer of West India goods. Presumably he earned enough income to support his continuous collecting and then some: he retired in the 1850s and spent the next 40 years focusing on collecting and working at the Essex Institute. Mr. Stickney had a very good eye, but he was in good company too! He was a founding trustee, frequent contributor to its Proceedings, and according to his obituary, an “honored member” of the Institute who served as Librarian and Curator. I’ve seen the central role of the Essex Institute in fostering civic and scholarly engagement among Salem men and women in the nineteenth and twentieth centuries time and time again. After the merger of the Institute and the Peabody Museum and the creation of the present Peabody Essex Museum in the early 1990s, I believe that the former’s historic role could have continued with the retention of its Phillips Library in Salem rather than its removal to a former factory in Stickney’s hometown of Rowley, but that just did not happen. The former buildings of the Essex Institute remain vacant, in the midst of busy Salem.

P.S. One blog post can’t do justice to the life and work of this man! For further research, the Stickney Family papers are located at the Phillips Library in Rowley, MA, of course.


5 responses to “Matthew Stickney had a very good eye”

  • Glenn McDonald

    A thought: did anyone ever catalog the provenance of the Essex Institute’s wonderful collection of early 19th century US gold coins that were lost in the 1960s burglary? Late 18th and early 19th century US gold is particularly rare because the government insisted in putting more gold in the coins than the face value. Frinstance, is a US $10 face value gold coin actually had $10.25 (and I’m guessing the actual amount) of gold content, then Gresham’s came into play. The bad money forces out the good, and mercantile interests would hoard and eventually melt down US gold coins at a profit.

    Cheers,

    G.

    • daseger

      Woah, new information for me! I didn’t even know about the burglary!

      • Brian Bixby

        The ratio of gold to silver in the 1792-1803 coinage was 1:15, but the actual value in the world was closer to 1:16, hence the overvalued gold coinage. It would be changed to 1:16 in 1834. The silver coinage had its problems, too, since the silver dollar was the same weight but of greater fineness than the Spanish dollar, which meant the silver dollar, too, was undervalued and generally exported; hence why regular coinage of the silver dollar ended in 1803.

        Bimetallism was supposed to provide flexibility. In practice, as Glenn McDonald notes, Gresham’s Law meant the undervalued metal’s coins would be exported and often muted down.

        I’ve read the Chandler novel on the Brasher doubloon, which like his others features Philip Marlowe, but never seen the movie.

      • Brian Bixby

        Oops, meant to say the gold coinage was UNDERvalued, worth less as money than its metallic content.

  • ichibanneko

    There were many very rare gold coins in simple display cases in the upper main hall. I volunteered there and often marveled at the collection. I’m bot sure if EI even had a burglar alarm.

    G.

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