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      <h3 align="left"><img border="0" src="../../images/coin_encyclopedia.jpg" alt="Coin Encyclopedia" width="462" height="22"></h3>
      <h3 align="left"><b>Seated Liberty With Arrows Dimes 1873-1874 Coin Guide</b></h3>
      <p align="left"><font size="2"><a href="../index.htm"><img border="0" src="../../images/back.jpg" align="top" alt="Back to coin encyclopedia" hspace="2" vspace="2" width="16" height="16">
      Back to Coin
      Encyclopedia Index</a></font></p>
      <p><i>Seated Liberty With Arrows Dimes 1873-1874</i></p>
      <p>After three years of postponements, innumerable revisions and committee
      conferences, the Mint Act of 1873 was finally passed on February 12, 1873.
      This same Mint Act was to be referred to in later years as the &quot;Crime
      of '73&quot;, because it was alleged to have been passed by a sleepy
      Congress with no debate and little consideration. At the time, neither the
      general public nor Congress realized just what the new law's impact would
      have on the nation's coinage. One of its consequences was to abolish the
      &quot;standard dollar&quot; (as opposed to the trade dollar) as well as
      the two-cent piece, silver three-cent piece and silver half dime. It also
      increased the weight by an infinitesimal amount in the silver dime,
      quarter dollar and half dollar. And it is this tiny increase in weight
      that created a distinctly different type on the ten-cent pieces in the
      years 1873-74.</p>
      <p>Placing arrowheads on either side of the date was previously used on
      half dimes, dimes, quarters and halves in 1853, '54 and '55. At that time
      they also signified a change in weight, but a decrease. The weight of
      these circulating coins was decreased to discourage their widespread
      hoarding and melting, as their intrinsic value was greater than their face
      value. One might speculate that the opposite could be true as well and
      could be the reason for adding more silver to these denominations twenty
      years later. The actual reason is not so logical, however.</p>
      <p>Two of the legislators responsible for the Mint Act of 1873 were
      Senator John Sherman and Representative William Kelley. These two men had
      a vision that someday United States coinage would be accepted worldwide.
      This universal coinage system would see the U.S. dime, quarter and half
      dollar accepted throughout the civilized world and used as circulating
      bullion pieces (the stella or four-dollar gold piece was a later offshoot
      of this universal coinage system, as promoted in 1879-80).</p>
      <p>Sherman and Kelley reasoned that the only obstacle standing in the way
      of realizing their dream was to convert U.S. silver coinage from the
      archaic English system of weight to the more rational metric system. To
      that end, a provision was included in the Mint Act that added a miniscule
      amount of weight to the dime, quarter and half dollar. Formerly, the dime
      weighed 2.49 grams; after the Mint Act, the dime weighed 2.5 grams. A
      minute adjustment by anyone's reckoning, but one that would increase the
      weight just enough to make ten dimes, four quarters or two halves weigh
      exactly 25 grams, which was also the weight of a French 5-franc piece.</p>
      <p>The Mint decided to note the increase in weight by adding arrowheads on
      the obverse at either side of the date. Chief Engraver William Barber
      added the arrowheads to the previous Hughes-Gobrecht-Longacre design. The
      arrows were punched into the dies separately, and their positioning varies
      from one die pair to another. However, regardless of whether they were
      punched in higher or lower relative to the date, dimes of 1873 always have
      the arrow-points level, while they point upward on 1874 coins.</p>
      <p>Once the new design was released, officials began scrupulously melting
      down coins dated 1873 that did not have the arrows motif. In the process,
      one of the most famous of all 19th century rarities was created, the
      1873-CC No Arrows dime. It is a unique coin, the only piece known to
      survive the melting pot.</p>
      <p>Adding the mintages together for the six issues of Arrows dimes yields
      6,042,308 coins. Most of the Philadelphia and San Francisco issues are
      readily available, and they are quite popular in all grades as type coins.
      Only the Carson City pieces are truly rare in any condition. Both Carson
      City issues are difficult to locate problem-free, with most of the
      surviving population being corroded, damaged or impaired in some manner.</p>
      <p>A total of 1,500 proof Arrows dimes were made in the two years. They
      are highly collectible coins and are eagerly sought by type collectors.
      Though 800 proofs were coined for 1873, the 1874 edition, with its lower
      mintage of 700 pieces, is more often seen.</p>
      <p>Counterfeits have never been a particular problem in this short-lived
      series. The only well-known counterfeits are of the very rare 1874-CC.
      These pieces are easily detectable by most collectors and dealers, as the
      die characteristics are well known for this rare, high-profile date. An
      interesting fact for authentication purposes is that early Carson City
      dimes have only 89 reeds on the edge, while their Philadelphia
      counterparts have 113, making it impossible to manufacture a convincing
      counterfeit Carson City dime from a Philadelphia coin simply by adding the
      mintmark.</p>
      <p>Grading Arrows dimes is similar to the grading of other dimes of this
      type minted 1860-91. High points to show signs of wear first are the
      breast and knees of Liberty and, on the reverse, the ribbon bow and tips
      of the leaves.</p>
      <p>After 1874 the arrows on either side of the date were discontinued,
      even though the weight of the coins in subsequent years remained the same.
      The silver dime retained its new weight, as did the quarter and half
      dollar, and all three denominations remained on the metric system until
      silver coinage was terminated in 1964.</p>
      <p>And what became of Senator Sherman and Representative Kelley's dream of
      a universal coinage system? Sherman later proposed to remove the eagle
      from the reverse of coins so their silver content could be inserted in
      place of the bird. He actually believed that adoption of the metric system
      for coinage would lead to Europeans using our coins as currency. His
      dreams, however, wilted soon enough in the bright light of reality. The
      facts were that the value of minor coinage was independent of its actual
      weight in bullion. Such small denomination coins only circulated in
      countries where they could be exchanged for what is known as
      &quot;standard money,&quot; that is, currency-silver dollars and gold
      coins.</p>
      <p>One of the great ironies of Sherman's and Kelley's vision of a
      universal coinage system is that coins and currency were still not legally
      convertible in this country in 1873, ten years after specie payments had
      been suspended during the dark days of the Civil War. But their dream, and
      the conversion of dimes to the metric system, did leave an enduring
      numismatic legacy for collectors of 19th century United States coinage.</p>
      <p>SPECIFICATIONS:</p>
      <p>Diameter: 17.9 millimeters Weight: 2.50 grams Composition: .900 silver,
      .100 copper Edge: Reeded Net Weight: .0723 ounce pure silver</p>
      <p><font size="1">BIBLIOGRAPHY: Ahwash, Kamal M., Encyclopedia of United
      States Liberty Seated Dimes 1837-1891, Kamal Press, Wallingford, PA, 1974.
      Bowers, Q. David, Silver Dollars and Trade Dollars of the United States,
      Bowers and Merena, Wolfeboro, NH, 1993. Breen, Walter, Walter Breen's
      Complete Encyclopedia of U.S. and Colonial Coins, F.C.I. Press/Doubleday,
      New York, 1988. Carothers, Neil, Fractional Money, A History of the Small
      Coins and Fractional Paper Currency of the United States, John Wiley &amp;
      Sons, London, 1930. Greer, Brian, The Complete Guide to Liberty Seated
      Dimes, DLRC Press, Virginia Beach, VA, 1992. McCloskey, John, (Editor),
      The Gobrecht Journal, Collective Volume Number One, Liberty Seated
      Collectors Club, Kettering, OH, 1980.</font></p>
      <p><i>Coin Information Provided Courtesy NGC.&nbsp;</i></p>
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