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Historic Gold Telford Medal Featured in November

Historic Gold Telford Medal be Featured in our November 2019 Baltimore Auction

Author: James McCartney / Thursday, October 03, 2019 / Categories: United States Coin of the Week

​The Telford medal is the pinnacle of awards in the field of engineering and this particular example has strong ties to a major development in a major American city.  We are delighted to be offering it in our November 2019 Baltimore Auction, where it will be accompanied by several significant gold medals.

It was first announced by the British Institution of Civil Engineers in 1835 following a bequest from Thomas Telford, who was the organization's first president. The award medal was intended to recognize innovation in the field of engineering and is open to engineers from all over the world. While the medal was first awarded in 1837, all of the medals are dated 1828 in exergue, marking the year the Institution received a royal charter from King George IV.

Initially, the medals were struck in gold, silver and bronze, and it is the silver and bronze versions that are most often encountered. However, it has been almost exclusively presented in gold since 1901. The gold examples are highly coveted and rarely come to market. We are aware of just one other specimen that has been offered publicly over the past decade.

The specimen to be presented in our November auction was awarded in 1910 to British engineer Charles Mattathias Jacobs for his construction of the North River Tunnels linking New Jersey and Manhattan beneath the Hudson River. These tunnels were commissioned by the Pennsylvania Railroad Company to establish for the first time uninterrupted rail service between Philadelphia and Manhattan. Chief Engineer Jacobs began working on the designs for the project in 1902 and started construction in 1904. Excavation of the bedrock began simultaneously on each side of the Hudson, with two teams working toward each other building tubes of iron and concrete beneath the river. When the first tubes were united in September 1906, they formed the longest underwater tunnel in the world. The North River Tunnels were officially opened in November 1910, shuttling trains between Weehawken, NJ and Pennsylvania Station in Manhattan.

Over a century later, these tunnels are still being used by today's commuters. They currently allow a maximum of 24 one-way train trips per hour, for a total of 48 trains between the two tunnels. Traffic reached a peak in the late 2000s, when over 430 trains were making the commute per day. The tunnels were flooded and extensively damaged by Hurricane Sandy in November 2012, and as a result, increased delays have frustrated commuters ever since. The tunnels are scheduled to be refurbished as part of the $20 billion Gateway Program that is planned to be completed in 2026.

This is an extremely impressive medal that marks an historic milestone in New York City history. Weighing nearly 4 troy ounces, it is struck in dramatic high-relief with considerable swirling die polish on the obverse bust of Thomas Telford. The surfaces show vibrant yellow gold coloration with honey shades around the truncation and apricot patina at the edges. The rims feature subtle engine-turning which produces a lovely rippled texture. Also included is the original leatherette case lined in purple velvet with an intact, functioning clasp. The case is lightly worn with a portion of delamination at the lower right edge.

This highly desirable medal will appeal to a wide variety of collectors, including fans of transportation, engineering, New York City, and medals of the Royal Mint. Its superior execution and aesthetic beauty are matched by its historic significance, and such an offering may not occur again for quite some time. Our Official Auction of the 2019 Whitman Coin & Collectibles Winter Expo will be available for viewing and bidding on our website www.StacksBowers.com, or you may contact our offices to secure a printed catalog. To feature your collection in one of our auctions, speak with a numismatic representative today at 800-566-2580 or email [email protected]. Also, download our mobile app to view and participate in our auctions via your Android or Apple device.