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Antique Silver Appraisal

We recently prepared an antique silver appraisal for a collector client of rare Hudson Bay Trade Silver artifacts, a very specialized field of antique collector silverwares.


Antique Hudson Bay Trade Silver Gorget
Charles Arnoldi gorget

Antique Hudson Bay Co. Trade Silver four-part gorget, the central lobed panel with engraved beaver depictions and HB hallmark with beaver in profile, along with Montreal hallmark and maker’s monogram hallmark of Charles Arnoldi (1779-1817) Arnoldi was one of the more prominent silversmiths of the Hudson Bay Fur Company. The three beaver effigy suspensions all bearing the same matching hallmarks. The central plate measures approx. 5¾” x 4½” and the 3 suspensions each measure approx. 4” x 2”. Total weight of the silver elements is approx. 72.0 grams. The gorget is fastened to a single strand necklace of cobalt blue trade beads intermingled with yellow striped beads. Strand length is approx. 20”.


The history of Hudson Bay Trade Silver is intricately linked with the fur trade in North America, especially in the context of the interaction between Indigenous peoples and European settlers. Hudson Bay Trade Silver refers to the silver items, such as jewelry, pendants, brooches, bracelets, and other decorative pieces, that were traded by the Hudson’s Bay Company (HBC) and other European traders in the 17th, 18th, and 19th centuries. These silver items became symbolic of the fur trade and had far-reaching effects on the material culture of Indigenous groups in Canada and the Northern United States.

Origins of the Hudson’s Bay Company and the Fur Trade

Founded in 1670, the Hudson’s Bay Company (HBC) was a British fur trading company that established a vast network of posts across what is now Canada and parts of the United States. It played a central role in the economic and cultural exchanges between European settlers and Indigenous communities for over 300 years. As the fur trade flourished, so did the interactions between Indigenous peoples and European traders, who often exchanged European goods like metal tools, cloth, firearms, and alcohol for fur, primarily beaver pelts.

Silver was one of the many goods that European traders introduced to Indigenous groups, particularly in the context of trade. These silver items were highly valued by Indigenous peoples, often seen as symbols of wealth, power, and status. Initially, silver trade goods were not widely available to Indigenous people, but as the fur trade expanded, more silver items were introduced into Native communities.

The Role of Silver in Indigenous Cultures

Silver had a deep and symbolic role within many Indigenous cultures long before European contact. In many Native American groups, precious metals were already used in their jewelry and ceremonial items. When Europeans began to introduce silver to Indigenous peoples, particularly those in the northern regions of the Americas, the metal became integrated into Native craftsmanship. These items were not only appreciated for their beauty but were also seen as possessing spiritual significance, often being used in rituals and important social ceremonies.

Among many Indigenous groups, particularly the Cree, Ojibwa, and Assiniboine, silver items like pendants, arm cuffs, and necklaces were traded or given as gifts to solidify social bonds or symbolize prestige. Over time, Native peoples adopted European silver pieces, incorporating them into their own styles and designs. This resulted in a fusion of European and Indigenous artistic traditions that can be seen in the intricate silver jewelry and trade silver pieces from this period.


Antique Hudson Bay Trade Silver engraved buttons
Ignace Francois Delzenne engraved buttons

Four antique Hudson Bay Co. Trade Silver bowl form buttons, with engraved accents, each is Hallmarked with ‘Crowned D.Z.’ maker’s monogram of Ignace Francois Delzenne (1723-1780, Quebec City). Each approx. 5.8” diameter, with two drill holes each, total weight is approx. 6.20 grams.


Hudson Bay Trade Silver: Production and Design

The silver items traded by the Hudson’s Bay Company were not produced in Europe for the most part, but rather, they were specifically crafted to meet the demands of Indigenous customers in the fur trade. While some silver items were imported directly from Europe, the majority were made locally or adapted for the local market. Some silver was smelted and shaped by Indigenous silversmiths, while others were produced by European craftsmen specifically for trade with Indigenous communities.

The design of Hudson Bay Trade Silver was influenced by both European and Indigenous aesthetic traditions. The pendants, brooches, and rings that were popular among Indigenous traders often featured motifs and symbols that were meaningful to Native peoples. These included symbols of animals, nature, or abstract geometric designs. In many cases, these designs reflected the spiritual beliefs and worldview of the Indigenous groups, though they were often modified to meet the preferences of European traders. The silver items were often engraved or embossed, with some featuring intricate designs, making them distinct from other forms of jewelry.

A distinctive feature of the silver jewelry traded by the Hudson’s Bay Company was its large size and prominence. This is reflective of the fact that the silver items were considered valuable and prestigious within Indigenous communities. Trade silver became an essential item of wealth and was often worn on ceremonial occasions or presented as gifts between different groups. In the fur trade, the possession of trade silver signified wealth, social standing, and successful participation in the economic exchanges that defined the fur trade.


Antique Hudson Bay Trade Silver kissing otters pendant
Kissing Otters

Antique Hudson Bay Co. Trade Silver Pendant in the form of ‘kissing otters’, attached to a Trade Bead Necklace of single strand form, strung with tubular turquoise blue beads, strung on deerskin. Necklace strand length is approx. 22”. Circa late 18th Century, possibly by Louis Jackson, Montreal.


The Impact of Trade Silver on Indigenous Societies

The influx of European trade goods, particularly silver, had significant social and cultural consequences for Indigenous societies. While trade goods like silver jewelry were embraced for their beauty and utility, they also had a profound effect on social dynamics within Indigenous groups. The exchange of silver became a means by which individuals could gain social prestige, wealth, and power.

For example, in many Indigenous societies, leaders or shamans who had access to trade silver could further consolidate their status within their communities. Silver, as a symbol of wealth, was often used in exchanges to establish alliances or negotiate disputes. This practice was not just limited to individuals; entire groups could gain favor or prestige by controlling the trade of silver, thus influencing broader political and economic structures.

However, the trade of silver also had some unintended consequences. As European goods like silver became more integrated into Indigenous cultures, they sometimes displaced traditional materials and practices. Native groups began to use silver in place of other materials, like bone, shell, or wood, which had previously been used in their decorative arts. This shift was part of a larger process of material change that reflected the increasing dominance of European trade networks and market forces over traditional Indigenous economies.

Decline and Legacy of Hudson Bay Trade Silver

The fur trade—and the demand for trade silver—began to decline in the late 19th century, especially with the development of railways and the expansion of settler populations. The advent of new transportation systems and the overhunting of fur-bearing animals led to a decline in the fur trade economy, which had long sustained the demand for trade silver. With the decrease in the fur trade, the production and distribution of Hudson Bay Trade Silver gradually diminished.

Despite this decline, the legacy of Hudson Bay Trade Silver remains strong in Indigenous art and culture. Today, the distinctive designs and patterns of trade silver are still reflected in the jewelry and silverwork produced by contemporary Indigenous artisans, particularly those of the Cree, Ojibwa, and Métis peoples. These artisans have continued to blend European silverworking techniques with Indigenous styles, creating a unique tradition of silver craftsmanship that honors the past while looking toward the future.


Antique Hudson Bay Trade Silver Crucifix
Robert Cruickshank crucifix

Antique Hudson Bay Co. Trade Silver crucifix pendant with engraved accents, inset diamond point faceted onyx and ornamented with three crescent suspensions. HB hallmark with beaver in profile, together with Montreal hallmark and monogram hallmark of Robert Cruickshank (1767-1809). Strung onto a trade bead necklace consisting of handmade blue/yellow striped powderglass beads. Strand length approx 19”. Crucifix dimensions are approx. 7” x 5”. Total weight of the silver crucifix and pendants is approx. 27.0 grams.

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