1870 Assay Commission Medal - JK-AC-8, Bronze, Standing Moneta

Coin Details

Auction Record

$1,560 SP66BN 11-26-2024 Stack's Bowers

Description

The 1870 Assay Commission medal JK-AC-8 in bronze introduces the Standing Moneta design to the series, depicting the Roman goddess of money and the mint in an upright pose. Moneta, from whose name the English word "money" derives, was a natural choice for a medal honoring the commission charged with verifying the integrity of the nation's coinage. The Standing Moneta motif would become one of the most enduring designs in the Assay Commission series, reappearing in various forms across multiple years. The shift from the seated figures of 1869 to the standing Moneta of 1870 reflects the influence of new artistic direction at the Philadelphia Mint under Chief Engraver William Barber, who had assumed the position following James Barton Longacre's death in January 1869. Barber brought a more formal, classically-influenced approach to medal design that emphasized vertical compositions and architectural precision. The 1870 Assay Commission met during a period of significant monetary policy debate. The Coinage Act of 1873, which would demonetize silver and establish the gold standard, was already being drafted in Treasury Department deliberations. The commission's annual testing of both gold and silver coins thus carried implications beyond routine quality control — the very metals being assayed were at the center of a political controversy that would dominate American economic discourse for the next quarter century.

Rarity Notes

JK-AC-8 (1870) in bronze (AE). "Standing Moneta" design. First appearance of this important motif in the Assay Commission series under new Chief Engraver William Barber.

Cross References

PCGS #512266; JK-AC-8; 1870 Assay Commission