I just came across one of these Phoenix buttons.
The story goes that they were originally manufactured in England to fill an order for military uniform buttons by King Christophe of Haiti. However, they were never delivered due to Christophe's suicide in 1820. As a result, the buttons entered the open market.
It is believed that Nathaniel Wyeth, an American trader, brought phoenix buttons to the Pacific Northwest. Wyeth challenged the Hudson's Bay Company's dominance as the primary trader in the area, and the HBC rose to this challenge - eventually running Wyeth out of business. Chief Factor John McLoughlin wrote of Wyeth, "We opposed him as much as was Necessary...we may be certain Wyeths losses are Great, and though he still keeps up Fort Hall yet he has very few Goods."
Not long after this, McLoughlin purchased Fort Hall and bought out Wyeth's stock of goods, which likely included these phoenix buttons.
Now to figure out what this one is worth.
Stack's had sold one in March 2010 for $373.75 with the shank removed, but that was Regimen 2.
Then in January 2011 they sold another for $126.50, with the shank. But you know as well as I that auctions can be fickle - it all depends on who is there, and if there's a bid war.
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