NEW YORK STOCK EXCHANGE BUILDING
NEW YORK, N. Y.
Medals commemorate opening of new Exchange building April 23, 1903; issued privately by Chas. Gregory & Co., long time Members of Exchange; designed and struck by R. Laubenheimer & Co., New York City.
First assemblage of stock brokers in New York City was held 1789 "under a buttonwood tree" standing at 68 Wall Street, near Federal Hall. Latter housed first Congress of United States, which met beginning March, 1789, as successor to Continental Congress. An $80,000,000 bond issue, then called stock, was required to liquidate war debts of Continental Congress and states, thus demonstrating necessity for stock brokers to market government securities. In 1817, brokers formally organized under name of New York Stock & Exchange Board; finally occupied own building December, 1865, on part of present site. That building demolished 1901 to make way for this new and larger one at cost of over $5,000,000.
Charles Gregory and William T. Callaway of Chas. Gregory & Co. were numismatists themselves and wished "to offer a small numismatic tribute to help perpetuate the memory of a noble building." Issue limited to 80 Silver proof and 250 Bronze pieces, with an additional 2 pieces in Gold. Dies were presented to American Numismatic Society by Charles Gregory, member, at meeting of April 17, 1914.
Photos courtesy of Stack’s Bowers Galleries. www.StacksBowers.com
Obv. Large edifice; around New York • Stock • Exchange; below edifice 1792-1903; microscopic R. Laubenheimer on r. base of edifice; finely beaded border.
Rev. Chas. Gregory & Co. / Members / of the / New York / Stock Exchange / Chas. Gregory. / Wm T. Callaway. / 30 Broad St. N. Y.; finely beaded border. (Size of lettering varies by line, also there is some minor scroll work).
HK-297 Silver. Proof. 38mm. Rulau Nyk 59