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Lot
1604

1863 10C Ten Cents, Judd-326A, Pollock-394, High R.6, PR64 NGC....

2009 January Orlando, FL FUN Auction #1121

 
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Auction Ended On: Jan 7, 2009
Item Activity: 8 Internet/mail/phone bidders
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Location:

Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819

Description:
Historic 1863 Ten Cent
Postage Currency Pattern
Judd-326A, PR64
1863 10C Ten Cents, Judd-326A, Pollock-394, High R.6, PR64 NGC.
Design.
The obverse features the heraldic shield with arrows, surrounded by an inverted laurel wreath, with the inscription EXCHANGED FOR U.S. NOTES around. The reverse shows the denomination 10 CENTS in two lines above the date, with the inscriptions POSTAGE CURRENCY and ACT JULY 1862 around. Struck in billon with a plain edge. In 12 coins tested by SEM-EDX analysis, David Cassel found the composition varied from a low of 9.4% silver, 90.6% copper to a high of 39.2% silver, 60.8% copper.

Commentary.
The Civil War hoarding of metal coins began in December 1861 with the gold issues, and in that same month banks suspended specie payments. Silver coins soon followed, and by July 1862 even copper-nickel cents had disappeared from commerce. The Postage Currency pieces were designed to redeem small denomination postal currency notes. In the end, fractional currency was found to be a more practical solution. Those low-denomination "shinplasters" were supplemented, unsatisfyingly so, by an emergency private coinage of (mostly) bronze and copper Civil War tokens and store cards, as merchants desperately tried to keep sufficient currency in circulation.

Physical Description.
The surfaces are attractively toned in shades of charcoal and lavender. Sharply struck, with fewer than average handling marks for the grade. The obverse exhibits several prominent die cracks. NGC Census: NGC has certified only two examples of Judd-326A in PR64, with two finer, both PR65 examples. PCGS Population: 7 in PR64, 2 finer (12/08).

Provenance.
Ex: ANA Midwinter Auction (Heritage, 2/1987), lot 1304; Stack's private treaty transaction.
From The Lemus Collection, Queller Family Collection Part Two. (PCGS# 60485)

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