Victoria silver Proof Pattern 10 Pence (Franc) 1867 PR66 Cameo NGC, ESC-3167 (R3). By L. C. Wyon. A marvelous early pattern, representing the dual initiatives which reared their heads in the mid-19th century: decimalization, and the pegging of international currencies together. For centuries the varying values of precious metals from country to country had had dire impacts on coinage (leading, for example, to the huge deficit of silver coinage in Britain in the late 18th century due to the comparative overvaluing of silver in Europe and its subsequent export). Accordingly, 1867 heralded the first International Monetary Conference in Paris, at which the proposal was made to adopt single gold and silver standards in recognition of the great expansion in trade and industry. Several 'pegged' patterns were produced, including a gold One-Hundred-Pence/One Ducat piece and a gold Double Florin/5 Francs; these specimens, as well as this silver 10-Pence/One Franc pattern, also reflects the attempt to modernize the archaic British currency system by imposing decimalization. Unfortunately, the difficulties involved in uphauling the coinage system and mapping the relative values of gold and silver proved, alas, too great, and the idea was scrapped after but a few patterns were produced. Despite its attribution as 'R3' in ESC, this pattern actually may be far scarcer, with no comparables in recent years appearing on the market. Indeed, the cataloger has seen both of the gold patterns aforementioned, but never encountered this particular type in-hand before. Beautifully crafted, this specimen was clearly retained in record, no wear nor contact marks whatsoever on its sleek surfaces. Deep streaks of cobalt and pale pink have developed in the mirror fields, flowing around the frosted devices and portrait of Victoria in a wonderful Proof contrast. A wonderful and enigmatic pattern, of extreme rarity and numismatic significance.

HID99912102018