Owner Comments:
1863 10C Ten Cents,
Judd-327, Pollock-397
Rarity: High R.6, PR64
Ex: Simpson.
Struck in aluminum with a plain edge
Obverse: The obverse depicts a Union shield pierced by two arrows; a simple wreath rests above. The remainder of the design consists of token-like legends; EXCHANGED FOR U.S. NOTES
Reverse:
In the center “10 CENTS” and the Date “1863” with “POSTAL CURRENCY” wraps at top and “ACT JULY 1862” wraps at the bottom border.
Comment:
Seated coinage was silver and widely hoarded. Judd-327 was a proposal to fill the void, though fractional currency was eventually issued instead. This is a well struck piece with lightly marked surfaces exhibit medium steel-gray toning with glimpses of charcoal patina.
During the Postage Currency experiment, samples were prepared utilizing various compositions. Mint Director Pollock sent various samples to Secretary of the Treasury Salmon P. Chase, with a description of each. Regarding the aluminum samples, Pollock noted “In aluminum, one weighs eight grains: about as thin as would be practicable: intrinsic value about five cents; nominal value ten cents.” An interesting side note to this report is the value of aluminum in 1863, about $3.00 per troy ounce.
This aluminum striking is especially important from a numismatic viewpoint.
Provenance/Appearance:
From the Bob Simpson Collection Heritage Jan 2021 FUN Signature Auction / Lot #3099; Prior
- Heritage Jan 2007 (FUN) / Lot #1288 (passed) NGC 64 (Passed)
- American Numismatic Rarities 1/3/2006 sale of the Prescott Collection / Lot #884 (NGC64) (Passed)
- Heritage May 2005 (CNSN) / Lot #8305 (passed) NGC 64 (Passed)