Lot 1279
1871 Pattern Quarter Dollar. Copper, reeded edge. Judd-1097. Pollock-1233. High Rarity 6. NGC graded Proof 63 Red & Brown. Loaded with mint red. We note some scattered fly specks here and there. The reverse carries the STANDARD reverse -- there was also a STANDARD SILVER reverse on certain Patterns of 1869-71 which sometimes confuses first-time collectors as to which is which since they looked almost identical. Pop 2; 2 in 66 RB (PCGS # 71356) .
The theory behind this reduced weight STANDARD and STANDARD SILVER types was to introduce subsidiary coins into circulation. In effect, it was hoped underweight money could be used to replace the 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 our regular issues then being struck. The situation righted itself in 1875-79, however, and so the idea was put on the shelf for a later crisis.
Estimated Value $3,500 - 4,000.
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