Iron Silver Mining Company v. Reynolds is a United States Supreme Court case that was decided in 1887. The case involved a dispute between the Iron Silver Mining Company and the Reynolds family over a mining claim in Colorado. The Iron Silver Mining Company had purchased the claim from the Reynolds family in 1881, but the Reynolds family later claimed that the sale was invalid because they had not been properly informed of the terms of the sale. The Supreme Court ultimately ruled in favor of the Iron Silver Mining Company, finding that the Reynolds family had been adequately informed of the terms of the sale and that the sale was valid. The Court held that the Reynolds family had been given sufficient notice of the sale and that they had failed to take any action to contest the sale. The Court also held that the Iron Silver Mining Company had acted in good faith in purchasing the claim and that the Reynolds family had not been misled or taken advantage of in any way. The Court's decision was unanimous.

Justice Field delivered the dissenting opinion in Iron Silver Mining Company v. Reynolds, arguing that the majority had misconstrued the language of a contract between two parties. He argued that while it was true that one party had agreed to pay for all expenses incurred by another during their joint venture, this did not mean they were liable for any losses suffered as a result of those expenses. Instead, Justice Field maintained that such an agreement only obligated them to reimburse each other for actual costs and nothing more. Furthermore, he noted that if the court held otherwise then it would be encouraging reckless spending on behalf of both parties which could lead to further disputes down the line. In conclusion, Justice Field believed his interpretation better reflected what was intended by both sides when they entered into their agreement and should have been adopted instead of allowing one party to benefit from its own negligence at another's expense.