Lot 2080
1870 Pattern Half Dollar. Copper, reeded edge. . J-959. . High Rarity 7. . P-1110. PCGS graded Proof 66 Red & Brown. A mahagony Gem Proof. One of the finest survivors of this exceedingly rare Pattern striking, both sides are predominantly lustrous with dominant medium-red color. As befits the RB designation, there is also some intermingled light-copper patina, but this feature is not discernible at all angles. Shimmering reflectivity is noted, as is a smooth, Gem-quality sheen. Pop 2; none finer. Additionally, neither service reports an example of Judd-959 in full Red.
Standard Silver design with a bust of Liberty facing right on the obverse. Liberty is wearing a headband inscribed LIBERTY and ornamented with a single star, and her hair is tied in a bun. The legend UNITED STATES OF AMERICA is around the border, and the motto IN GOD WE TRUST is present on a scroll below the bust. The reverse exhibits a wreath of corn and cotton surrounding the denomination 50 CENTS and the date 1870, as well as the inscription STANDARD at the upper border. Struck in copper with a reeded edge.
The pieces referred to by the catch-all title of "Patterns" are among the rarest coins ever struck in the United States Mint. There have been many attempts to define the U.S. Pattern coin family as a whole. While there are still a few exceptions, we believe that the definition included in the preface to the ninth edition of the book United States Pattern Coins: Complete Source for History Rarity, and Values by Dr. J. Hewitt Judd is the among the most comprehensive ever offered. According to this definition, "A pattern coin is one that was struck at the Philadelphia Mint (with a few exceptions) for purposes of testing a design or concept, or perhaps from unusual die pairs, or in unusual metals, or to create delicacies for collectors, but which differs from normal circulation coins of standard design, date, and metal." As a rule, patterns are exceedingly rare coins. Their original mintages are unknown, although the number of pieces extant, as well as the reasons for their striking, suggest that very few specimens were prepared. Indeed, most patterns were produced to the extent of only a handful of coins. Patterns also offer considerable opportunity for continued study, as the circumstances surrounding the striking of many types and issues remain shrouded in mystery (PCGS # 71205) .
If in a spare moment you will take time to scan the list of the various Pattern coins struck between 1868 and 1871, you will see a large expansion in the number of types. According to historians, Philadelphia Mint officials were petitioned (often behind closed doors) by collectors wanting a piece of the action. Collectors had heard rumors how privileged individuals were receiving these rare and beautiful Pattern coins. Naturally, they wants some for their own; and before the practice was halted the Mint Director and his allies obliged.
Estimated Value $7,000 - 8,000.
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