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Lot 1417
1822. JR-1. NGC graded MS-63. Nice even toning. A lovely Mint State example of this rare issue, the only die variety of this key date. The smooth surfaces are natural silver gray with lovely antique overtones. A very pretty dime for the grade, showing great originality, sharply struck everywhere but the first three stars and the final star (#13), showing bold detail in Liberty’s cap and hair, the eagle’s feathers and shield. Some minor hairline, surface free from spots or corrosion, and any marks that are present are neither large nor substantial in number. It is easy to call this piece choice for the grade, which is not to call it perfect but we certainly feel that it is far finer than most Mint State 63 coins of this type seen lately.
A rare date, highly sought in all grades. The preponderance of 1822 dimes are in low circulated condition, usually well worn or damaged, although a handful of Mint State pieces are known. When the authors of the JR dime book wrote, they estimated just 10 Uncirculated examples, an educated guess that dovetails fairly nicely with a few of the Uncs today being old Aus, a few regrades, and perhaps a few coins still raw in old-time collections. A wonderful opportunity for the specialized Bust Dime buyer. Pop 7; 3 finer, 1 in 64 Star, 1 in 65, 1 in 66.
Historic note: In March of 1807, Mint director, Robert Patterson, hired the German-born John Reich as second engraver. Reich began work under Robert Scot, receiving a salary of $600 per year. From 1807 to 1817 he performed most of the chief engraver's duties without receiving the salary or prestige of the higher office. Coming aboard on April 1, he was cutting dies for his first Capped Bust coins, the 1807 half dollars, by April 2. Only after getting the half dollar, half eagle, cent and quarter eagle out of the way did Reich tackle the dime.
As she first appeared on the 1809 Capped Bust dime Reich's Liberty was, if anything, a trifle more streamlined than her predecessor. Fifty years later, U.S. Mint writer William Ewing DuBois would claim that the model for all these rather stout, ample-bosomed Liberties was a woman he called "Reich's fat German mistress."
The reverse bears an American eagle with head turned left, holding three arrows symbolizing strength, and an olive branch representing peace. On its breast is the Union Shield composed of six horizontal lines indicating blue, with 13 stripes below, six of these made of three vertical lines each indicating red. Such lines were an 18th century engraver's standardized method of showing colors in black-and-white engravings; blue representing dominion, red signifying force, with white denoting purity. Encircling the top of the eagle is the inscription UNITED STATES OF AMERICA and a scroll with the incuse motto E PLURIBUS UNUM. Beneath the eagle is the denomination 10 C.
Reich prepared a single, steel punch of his Liberty bust, impressing it into each working die by blows of a small hammer. He then impressed each star by eye, seven on Liberty's left, six on her right, placing the date in the space below the bust. Although known as "Large Size," these dimes should more properly be called the "Open Collar" type. They were struck from 1809 to 1828 without a restraining collar, giving them a broad, low-rimmed look. Averaging 1.1 millimeters smaller in diameter than the preceding Draped Bust dime, this type is only large in relation to its smaller successor issued from 1828 onward. In reality, diameters vary widely over the years. (Reich left the mint in 1817.)
Capped Bust dime production was not continuous, with only three dates struck while Reich was in Mint employ. Dimes were issued dated 1809, 1811, 1814, 1820 through 1825 and 1827. Large quantities were struck only in 1820, 1821 and 1827. Estimated Value $35,000 - 40,000
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