2169

1870 Pattern 25c. Silver, reeded edge PCGS PF68 J-888

Currency:USD Category:Coins & Paper Money Start Price:400.00 USD Estimated At:800.00 - 1,200.00 USD
1870 Pattern 25c. Silver, reeded edge PCGS PF68 J-888
A well-toned example with circulation marks.

Part of the STANDARD SILVER group of Pattern coins, 1869-71, this piece struck in silver with reeded edge. Adorning the head of Liberty is a liberty cap decorated with three stars. On the reverse, 25 CENTS 1870 within a wreath of cotton and corn. STANDARD above.

The theory behind this petite STANDARD 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 with 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. (#61132)