100601 | UNITED STATES & SWEDEN. Pehr August Peterson brass Medal.

100601 | UNITED STATES & SWEDEN. Pehr August Peterson brass Medal. Issued 1938. Commemorating the 300th anniversary of the founding of New Sweden and 'Rockford's Greatest Citizen' (31mm, 12.95 g, 6h).

 

HONORING SWEDISH SETTLERS OF ROCKFORD, bust facing slightly right; P. A. PETERSON in exergue / NEW SWEDEN TERCENTENARY, ship under sail right upon the waters; 1638 • 1938 in exergue. Edge: Plain.

 

Rulau –. Mint State. Pleasing yellow-brown surfaces.

 

Born in 1846 in the historical Swedish province of Västergötland, Pehr August ("P. A.") Peterson immigrated with his family to the United States in 1852, settling in the area near Rockford, IL. After earning his business degree and working in the lumber trade, P. A. returned to Rockford where he began directing numerous companies on account of his ability to manage books and finances. As Rockford's role in the production of furniture grew (it was the leading manufacturer second only to Grand Rapids), so too did P. A.'s role in many of Rockford's businesses. The Panic of 1893, an economic depression that lasted four years, deeply affected Rockford, and caused Peterson to lose all the wealth and positions which he had amassed. His hard work and determination, however, allowed him to quickly repay creditors and return to his prominent position in Rockford's business circle, eventually becoming known as "Rockford's greatest citizen." On account of his Swedish ancestry and philanthropy, he was pivotal in numerous Swedish-American organizations in the area.