1870
50C (J-980, R-8) NGC PF-64CAM – An extremely rare
fantasy piece, of which this may be one of only two
examples available on the public market. In the last
20 years, only one other piece has appeared at auction,
which was the PCGS PR-65 from the Harry W. Bass collection.
That coin sold for $7,475 in May 1999, a time when patterns
were not as popular as they are at the present time.
Pollock lists only 4 examples, one impounded in the
Byron Reed collection, and another in the Smithsonian,
the Bass coin listed above and a piece which sold in
November of 1944 at the auction of the Olsen collection.
The latter coin might be the present piece, although
this is not confirmed.
The obverse is a die which was previously
used for striking 50 cent pieces of the Standard silver
series in 1869. It features a Liberty Head with cap
and two stars, and LIBERTY on a scroll. The motto IN
GOD WE TRUST is below, and on top is UNITED STATES OF
AMERICA. The engravers initial, B for William Barber,
is on the ribbon. The portrait was actually designed
by James Barton Longacre, who passed away on January
1, 1869, before he could engrave the portrait.
The reverse is of simplistic, but well
executed design. It features the denomination, spelled
as 50/Cents inside a wreath of Oak and Laurel, which
is open at the top. The date is under the wreath, with
a single star on either side. The words STANDARD SILVER
are around. This was one of many reverse dies which
were created for the Standards silver series, which
sold in sets of 9 pieces to collectors at a cost of
$15. It is unknown if the aluminum pieces were sold
in sets as well, but given the rarity of these pieces
it seems very unlikely.
Besides being extremely rare, the present
piece also has excellent eye-appeal. The oxidation usually
encountered on aluminum pieces of this age is virtually
non-existent on this coin. Under the darker steel-gray
toning lies strong mirrored fields and frosted devices,
warranting the Cameo designation. We see no reason why
this coin should not grade at the gem level, which would
make it the finest known of the limited number of pieces
available. A wonderful coin and a very rare opportunity
for the specialist of pattern coinage! |
