Lot 2078
1870 Pattern Quarter Dollar. Silver, plain edge. . J-901. . High Rarity 6. . P-1016. PCGS graded Proof 66 Cameo. Brilliant white Cameo Gem. Sleek white in color with an strong contrast between the frosty devices and gleaming mirror fields. Possibly the finest known Judd-901 quarter dollar. Pop 1; none finer. The only cameo example certified.
The theory behind this petite STANDARD SILVER type of 1869-71 was to introduce subsidiary coins into circulation. In effect, it was hoped underweight money could be used to replace a hodgepodge of Fractional Currency then clogging the streams of trade. Why reduce the weight? The belief was this would discourage hoarding and exportation as was occurring with America's regular issues then being struck. This theory never made it into practice in the 19th century; by 1878, gold had returned to par against paper money and small change once again stayed in the country after the hoarding ended.
Standard Silver design with a right-facing bust of Liberty 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 inscribed on a scroll below. On the reverse, a wreath of corn and cotton surrounds the denomination 25 CENTS and the date 1870. The word standard is above. Struck in silver with a plain edge.
Estimated Value $7,000 - 8,000.
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