1869 10C J-709 PR(PCGS#60934)
1869 10C J-709 PR (PCGS#60934)
September 2005 Pre-Long Beach Auction #32
- Auctioneer
- Goldberg Auctioneers
- Lot Number
- 2300
- Grade
- PR65
- Price
- 1,840
- Lot Description
- Lot 2300 1869 Pattern Dime. Silver, plain edge.NGC graded Proof 65.High 6. Nice gold toning on both sides. Pop 5: tied for finest graded by NGC.(PCGS # 60934) . The theory behind this petite STANDARD SILVER type 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 to our regular issues then being struck. Fortunately this theory never made it into practice; by 1878, gold had returned to par against paper money and small change once again streamed into the country as the squeeze abated. Estimated Value $2,000 - 2,400.