Lot 1030
1879 Pattern Dollar. Silver, reeded edge. PCGS graded Proof 68. A stunning example of this rare Judd number, here bathed in dazzling rainbow iridescence. The front of the coin features a delightful lilac center that changes to incredible blue-green at the rims. The reverse features similar colors with a dash of golden iridescence for an outer ring.
The obverse features Morgan's famous design as it appears on regular issue coins of this year. The reverse is a major modification of the normal reverse, with the eagle appearing more like a pigeon than our national symbol. Interestingly enough, the motto IN GOD WE TRUST has been replaced with E PLURIBUS UNUM, which already appears in the normal position on the obverse!
In terms of quality, this is easily the technical best available to collectors and it most certainly would win any beauty contest for a Judd 1615. PCGS has graded only one example at this level, and none finer. A number of examples appear in the Proof-67 category, but we suspect some of those were resubmissions hoping to rival the grade and beauty of this piece. We doubt if a finer example will ever appear on the market, primarily because of the high rarity of this variety, plus the fact that this particular example is encapsulated in an old, green label PCGS holder (today, these older holders are generally considered to contain coins that were graded conservately by today's standards). The highest grade assigned by NGC to a Judd 1615 is "only" PR-67.
Considerable experimenting was taking place at the Mint in 1879. Different alloys were being tested (Goloid and Metric), plus consideration was being given to an international coin (the Stella $4 Gold Piece being a prime example). Thus, a raft of new designs were produced at a time when the question of the design on the Morgan Dollar had already been settled. Considering the legal requirements governing design changes, a lot of energy was expended in a seemingly wasted fashion. Not a single one of the 1879 Pattern designs was adopted!
A foremost rarity in all grades and seldom offered for sale. This coin will be the centerpiece of any pattern collection and a fantastic display piece, as well (PCGS # 61993) .
Estimated Value $50,000 - 70,000.
Ex: From the Wayne Miller Collection, last sold by us as Lot 603 in our October 2000 sale, where it realized $25,300. Since that sale, the market for U.S. Patterns has more than doubled in value due to intense competition for pieces of top quality and rarity.
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