Lot 1654
1870 Pattern Dime. Silver, Reeded Edge. Judd-837. Pollock-928 Rarity 5. NGC graded Proof 66. Incredible multi-dimensional toning. A bold example of the STANDARD silver proposal for subsidiary coinage. The Mint produced a whole host of beautiful Patterns in 1869-71, but since Congress never picked up the ball and ran with it, the idea of subsidiary silver had to await a later day. Pop 3; 2 finer, 1 in 67, 1 in 67 Star (PCGS # 61081) .
History of the Standard Silver Pattern Coins: The year 1869 marked the advent of a remarkable series of Pattern pieces, known as the Standard Silver series, which were intended to be used to replace the fractional currency. This consisted of denominations of fifty, twenty-five and ten cents which were smaller in size and lighter in weight than the regular United States coins of equal denomination. They were to be struck in the same silver alloy as the authorized United States silver coins, but the weight of the half dollar was to be reduced from 192 to 154 grains, the quarter from 96 to 77 grains and the dime from 38 1/10 to 31 1/2 grains. The intention of the reduced weight was to prevent hoarding and exportation. The value was to depend upon the authority of their Issue rather than upon their bullion value so that they might be current whether gold was at par with paper money or not. William Barber made dies for three different obverses for each denomination after designs by J. B. Longacre. These sets of nine pieces each were struck in silver, copper and aluminum with plain and reeded edges and sold at the mint for fifteen dollars a set. Additional such Pattern coins marked either STANDARD SILVER or just STANDARD were struck in 1870 and 1871.
Estimated Value $2,800 - 3,000.
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