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- (1849) $10 Miners Bank Ten Dollar AU58 NGC. CAC. K-1, R.6. The Miners Bank ten dollar gold piece was one of the earliest private gold issues of the California Gold Rush, and it was the only design and denomination issued by the pioneer firm. Examples are always in demand because of the coin's historical importance and rarity. Probably 25-30 examples survive today in all grades, and high-grade pieces are very rare. The design of the coins was simple, with the denomination TEN D. in the middle of the obverse, flanked by a star on each side, with MINERS, BANK above and SAN FRANCISCO below. The reverse featured an eagle with arrows and olive branch, similar to the device on federal ten dollar gold coins of the time, with CALIFORNIA above and 13 stars below. The star and letter punches on the obverse are from a different set than the reverse, and the obverse workmanship is cruder, suggesting the dies were prepared by different engravers. The firm of Wright & Co., Exchange Brokers was established on July 2, 1849, with offices on the corner of Washington and Kearney Streets in Portsmouth Square, San Francisco. The principals were Stephen A. Wright, Samuel W. Haight, James C.L. Wadsworth, and John Thompson. Miners Bank was a subsidiary of Wright & Co., but the early history of the firm is difficult to follow, since the partners were involved in several business ventures at different times during the Gold Rush era. The first mention of Miners Bank actually predates the formal establishment of Wright & Co. by several months, as paper money from the Miners Bank is known with an issue date of March 1, 1849, signed by Wright as president and Haight as cashier. Perhaps inspired by the example of Norris, Gregg, & Norris, Wright & Co. proposed to issue five and ten dollar coins in the summer of 1849 and petitioned the customs collector to receive those issues on August 7: {blockquote}"They (Wright & Co.) are willing to give bonds to any amount required by the Collector of this Port that their coin shall be of equal (if not more) value than the coins of the United States Mint."{/blockquote} The petition was denied. Undaunted, Wright & Co. proceeded to issue coins of the ten dollar denomination under the name of Miners Bank (the firm was reorganized under that name in November). The firm's name is variously punctuated as Miners Bank, Miner's Bank, and Miners' Bank in contemporary accounts, and the words appear as Miners, Bank on the coins themselves. The pieces were actually struck by Kohler & Co., using the time-honored method of sledge hammer striking, since no coin press was available. According to sworn testimony by James Wadsworth, Kohler & Co. struck coins for Miners Bank from August 1849 until January 1, 1850. Those were not dated, and two varieties are known to present-day collectors. This example represents the K-1 variety, struck in gold-copper alloy, with a wider flan than the K-2 variety, which was struck in gold-silver alloy. It was extremely unusual for a California gold issue to be alloyed with copper, prompting Donald Kagin to theorize that the K-1 pieces might have been struck in the East, where copper was more available, as die trials. There is some disagreement over which side is the obverse, but we follow Kagin and the Guide Book in designating the side with the eagle as the reverse. Initially, the coins must have circulated widely, as an example reached New Orleans and was assayed there by William P. Hoit, Assayer of the New Orleans Mint, on October 16, 1849. Hoit found the ten dollar gold piece had an intrinsic value of $9.65. Later assays at New Orleans and Philadelphia indicated the average value of the Miners Bank coins was a more reasonable $9.87, but the issue soon fell into disrepute, and merchants would only accept the coins at a steep discount. Miners Bank was dissolved on January 14, 1850, and most of their pieces were melted for reminting at an early date. While the coins were definitely out of favor as a medium of exchange, they were prized by collectors from the earliest days of the hobby. They began to appear at auction as early as the Sixth Semi-Annual Sale (W. Elliot Woodward, 3/1865), lot 2819: {blockquote}"Ten dollar piece, without date; obv. With California above and stars below: rev. 'Miners' Bank, San Francisco,' 'Ten D.' across the field of the coin; fine and scarce."{/blockquote} The lot realized $16, to "French," who also purchased the 1861 Paquet Reverse double eagle, which was described in the previous lot in the catalog in its first auction appearance. The current price realized record for the Miner's Bank issue is $230,000, brought by the uncertified MS64 specimen in lot 1076 of the Archangel Collection (Stack's, 11/2006). The present piece is an attractive near-Mint example, with well-detailed design elements that show the slightest trace of wear on the high points. The orange-gold surfaces are lightly abraded and show a few hints of saffron and violet. Traces of prooflike reflectivity are evident in sheltered areas. This coin will be a welcome addition to a fine collection of Territorial gold. Census: 5 in AU58, 8 finer (8/14). Ex: Somerset Collection (Bowers and Merena, 5/1992), lot 1805; Eric P. Newman Numismatic Education Society. Realized $54343.75. Description courtesy of Heritage Auctions.
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- 1854 $20 Kellogg & Co. Twenty Dollar MS61+ NGC. CAC. K-2, R.4. John Glover Kellogg and George F. Richter established the firm of Kellogg & Co. on December 14, 1853, immediately after the closing of the United States Assay Office of Gold. Both men had been employed at the Assay Office, Kellogg as a cashier and Richter as an assayer. The new firm was petitioned to produce private coinage by bankers in San Francisco and Sacramento, to fill the gap between the closing of the Assay Office and the opening of the San Francisco Mint in 1854. Kellogg & Co. obliged by issuing enormous numbers of twenty dollar gold pieces in 1854, and again in 1855, when the newly established San Francisco Mint had to suspend operations for a time. The 1854 Kellogg & Co. twenty dollar gold pieces, which closely resemble the federal twenty dollar coins of that period, are known in four different die varieties, from dies engraved by Albert Kuner. The coin offered here represents the K-2 variety, with Long Arrows on the reverse. B. Max Mehl provided a good description of the design in lot 705 in his November 1911 catalog of the Charles W. Cowell Collection: {blockquote}"1854 $20.00 Liberty head to left, coronet inscribed Kellogg & Co., around thirteen six-pointed stars, date below. Rev., Eagle, the same type as on the regular United States issue. Variety with long arrows. Around SAN FRANCISCO CALIFORNIA TWENTY D. Extremely fine, with some mint luster, free from any nicks or dents usually found on these pieces. Rare."{/blockquote} Largely forgotten today, Cowell was a collector from Denver who was a connoisseur of Pioneer gold. His collection was strong in Kellogg issues, and included a Short Arrows example of the 1854 Kellogg twenty dollar, an 1855 Kellogg twenty dollar piece, and one of the very rare 1855 proof Kellogg fifty dollar coins, which were never issued as business strikes. The record price realized for an 1854 Kellogg twenty dollar coin is a staggering $310,500, brought by the MS64 PCGS example in the New York Connoisseur's Collection (American Numismatic Rarities, 3/2006). The present coin is a high-end MS61 example with well-detailed design elements that show just a touch of softness on some of the stars. The bright orange-gold surfaces show a scattering of minor contact marks on both sides and retain much of their original mint luster. Eye appeal is quite strong. Census: 13 in 61, 1 in 61+, 5 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $49937.50. Description courtesy of Heritage Auctions.
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- 1854 $20 Kellogg & Co. Twenty Dollar MS61+ NGC. CAC. K-2, R.4. John Glover Kellogg and George F. Richter established the firm of Kellogg & Co. on December 14, 1853, immediately after the closing of the United States Assay Office of Gold. Both men had been employed at the Assay Office, Kellogg as a cashier and Richter as an assayer. The new firm was petitioned to produce private coinage by bankers in San Francisco and Sacramento, to fill the gap between the closing of the Assay Office and the opening of the San Francisco Mint in 1854. Kellogg & Co. obliged by issuing enormous numbers of twenty dollar gold pieces in 1854, and again in 1855, when the newly established San Francisco Mint had to suspend operations for a time. The 1854 Kellogg & Co. twenty dollar gold pieces, which closely resemble the federal twenty dollar coins of that period, are known in four different die varieties, from dies engraved by Albert Kuner. The coin offered here represents the K-2 variety, with Long Arrows on the reverse. B. Max Mehl provided a good description of the design in lot 705 in his November 1911 catalog of the Charles W. Cowell Collection: {blockquote}"1854 $20.00 Liberty head to left, coronet inscribed Kellogg & Co., around thirteen six-pointed stars, date below. Rev., Eagle, the same type as on the regular United States issue. Variety with long arrows. Around SAN FRANCISCO CALIFORNIA TWENTY D. Extremely fine, with some mint luster, free from any nicks or dents usually found on these pieces. Rare."{/blockquote} Largely forgotten today, Cowell was a collector from Denver who was a connoisseur of Pioneer gold. His collection was strong in Kellogg issues, and included a Short Arrows example of the 1854 Kellogg twenty dollar, an 1855 Kellogg twenty dollar piece, and one of the very rare 1855 proof Kellogg fifty dollar coins, which were never issued as business strikes. The record price realized for an 1854 Kellogg twenty dollar coin is a staggering $310,500, brought by the MS64 PCGS example in the New York Connoisseur's Collection (American Numismatic Rarities, 3/2006). The present coin is a high-end MS61 example with well-detailed design elements that show just a touch of softness on some of the stars. The bright orange-gold surfaces show a scattering of minor contact marks on both sides and retain much of their original mint luster. Eye appeal is quite strong. Census: 13 in 61, 1 in 61+, 5 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $49937.50. Description courtesy of Heritage Auctions.
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- 1850 Baldwin $10 'Restrike' MS64 NGC. White Metal, Gilt, K-1g, R.6. Although these coins are traditionally classified as restrikes, the dies differ from those of the original 1850 Baldwin design in several particulars. The small letter s at the end of the word DOLLARs is located much higher on this "restrike" than the corresponding letter on the original coin. The horse is not as finely rendered, with less detail apparent in the mane and a wider tail that is split at the end, instead of pointed. On the reverse, the lowest arrow points to S on the "restrike", while it points to C on the original. Other differences exist, as well. Writing in 1912, Edgar Adams believed these dies were engraved by Albert Kuner and used to strike trial pieces in various metals. He does note, however, "There have been restrikes, and it is said two impressions were taken in gold; the obverse die was also used to strike souvenir spoons before the great San Francisco fire." Donald Kagin lists restrikes in gold, silver, copper, brass, bronze, lead, white metal, and a uniface obverse on composite metal on page 367 of Private Gold Coins and Patterns of the United States. A number of pieces have been gilded and the dies are known in several different states: early, with perfect dies; middle, with a cud forming on the reverse at 4 o'clock; and late, with another cud at 5 o'clock on the reverse. Modern researchers believe these coins were struck from copy dies in the period between 1906-1910, possibly by Stephen Nagy, because of the popularity of the distinctive "Horseman" design. While the coins were undoubtedly struck in this time frame, Adams may be correct in thinking the dies were prepared much earlier, possibly by Albert Kuner, who engraved the dies for the original Baldwin issue. All "restrikes" show extensive die rust on both sides. The present coin is an attractive Choice example, with well-detailed design elements and light greenish-gold surfaces that are free of mentionable distractions. This piece is from an early state of the dies, with no cuds on the reverse. Like all gilt coins, this piece exhibits slightly flat mattelike luster. As on all examples seen, extensive evidence of die rust shows on both sides. Most definitely an interesting and attractive coin for the advanced Territorial gold collector. Census: 1 in 64, 0 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $8225.00. Description courtesy of Heritage Auctions.
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- 1850 Baldwin $10 'Restrike' MS64 NGC. White Metal, Gilt, K-1g, R.6. Although these coins are traditionally classified as restrikes, the dies differ from those of the original 1850 Baldwin design in several particulars. The small letter s at the end of the word DOLLARs is located much higher on this "restrike" than the corresponding letter on the original coin. The horse is not as finely rendered, with less detail apparent in the mane and a wider tail that is split at the end, instead of pointed. On the reverse, the lowest arrow points to S on the "restrike", while it points to C on the original. Other differences exist, as well. Writing in 1912, Edgar Adams believed these dies were engraved by Albert Kuner and used to strike trial pieces in various metals. He does note, however, "There have been restrikes, and it is said two impressions were taken in gold; the obverse die was also used to strike souvenir spoons before the great San Francisco fire." Donald Kagin lists restrikes in gold, silver, copper, brass, bronze, lead, white metal, and a uniface obverse on composite metal on page 367 of Private Gold Coins and Patterns of the United States. A number of pieces have been gilded and the dies are known in several different states: early, with perfect dies; middle, with a cud forming on the reverse at 4 o'clock; and late, with another cud at 5 o'clock on the reverse. Modern researchers believe these coins were struck from copy dies in the period between 1906-1910, possibly by Stephen Nagy, because of the popularity of the distinctive "Horseman" design. While the coins were undoubtedly struck in this time frame, Adams may be correct in thinking the dies were prepared much earlier, possibly by Albert Kuner, who engraved the dies for the original Baldwin issue. All "restrikes" show extensive die rust on both sides. The present coin is an attractive Choice example, with well-detailed design elements and light greenish-gold surfaces that are free of mentionable distractions. This piece is from an early state of the dies, with no cuds on the reverse. Like all gilt coins, this piece exhibits slightly flat mattelike luster. As on all examples seen, extensive evidence of die rust shows on both sides. Most definitely an interesting and attractive coin for the advanced Territorial gold collector. Census: 1 in 64, 0 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $8225.00. Description courtesy of Heritage Auctions.
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- 1852 $50 Assay Office Fifty Dollar, 887 Thous. AU58+ NGC. CAC. K-13, Low R.5. Perhaps no other issue is so evocative of the heady days of the California Gold Rush as the majestic octagonal fifty dollar gold pieces issued in 1851 and 1852, first by Moffat & Co. and then by their direct-successor firm, the United Assay Office of Gold. These octagonal coins are immediately recognizable, even to casual collectors who can identify no other private coinage issue of the era. Heritage Auctions is pleased to offer this rare near-Mint example of the popular K-13 variety from the fabulous collection of the Eric P. Newman Numismatic Education Society. The firm of Moffat & Co. was officially disbanded on February 14, 1852, with the retirement of founding partner John Little Moffat. The company was reorganized under the leadership of the remaining partners, Joseph R. Curtis, Philo H. Perry, and Samuel H. Ward, with the new name of the United States Assay Office of Gold. Augustus Humbert retained his position as United States Assayer, and the company was authorized to continue the government contract to produce gold coinage in California. The Assay Office continued to issue octagonal fifty dollar gold pieces, as they had in 1851, just changing the wording around the outer obverse border to reflect the title of the new firm. This version of the Assay Office fifty dollar issue is designated K-13 in Donald Kagin's Private Gold Coins and Patterns of the United States. A good description of the design was provided in lot 1878 of the Matthew Adams Stickney Collection (Henry Chapman, 6/1907): {blockquote}"1852 $50. Eagle standing to left on rocks, supports U.S. shield and three arrows in his right talon, while the left holds a bundle of arrows, around UNITED STATES OF AMERICA FIFTY DOLLARS. Above eagle on scroll 887 THOUS. Outside this central device and following the angles of the edge is UNITED STATES ASSAY OFFICE OF GOLD SAN FRANCISCO CALIFORNIA. 1852. R. Engine turned only. Border beaded; edge milled. Extremely fine. Very light scratches or nicks. A brilliant example of this very rare coin. Octagonal. See plate."{/blockquote} The coin, which was probably in a similar grade to the coin offered here, sold to an unidentified bidder for the strong price of $180. The current prices realized record for a K-13 example is $115,000, brought by the MS62 NGC coin in lot 2116 of the Milwaukee Signature (Heritage, 8/2007). The Assay Office continued to issue the K-13 fifty dollar "slugs" until Congressional legislation blindsided the California economy in the summer of 1852. On August 31, 1852, Congress passed a law prohibiting the acceptance of gold coins of less than .900 fineness for customs dues. Because parting acids for refining, and copper for alloying, the native California gold were always in short supply in the Western United States, California coiners had never succeeded in issuing coins of the federally required .900 fineness. The older Assay Office fifty dollar pieces had been either .880, .884, or .887 fine, compensating for their lower fineness by being heavier than a federal fifty dollar coin would have been, if such a coin had been struck. The new law essentially deprived California of all legal tender coinage, and precipitated a financial crisis that continued into the next year. By January of 1853, the Assay Office was able to issue new coins of several denominations with the required .900 fineness, but the issues had to be alloyed with silver, rather than copper, as there was no reliable supply of that metal in the area. Most of the gold for the new issues came from the older, lower fineness gold coins, which were promptly turned in for recoinage. As a result, most of the K-13 pieces in circulation were melted and the issue was seldom encountered after 1853. The Assay Office issued a total of 23,800 fifty dollar gold pieces of the new fineness (known as the K-14 variety today), by the end of February 1853, at least partially solving the coin shortage in the region. A dependable, federally sanctioned, medium of exchange continued to be elusive until the San Francisco Mint was established in 1854. The present coin is an attractive high-end near-Mint example, with lightly abraded orange-gold surfaces that radiate vibrant mint luster on both sides. This piece is free of the large rim bruises and deep scratches that typically plague the issue. The design elements are well-detailed, with just a touch of the always-seen softness on the central obverse. All letters in the legend remain legible and the date is bold, adding to the considerable eye appeal. This coin will be a prize for an advanced collector of California gold. Census: 17 in 58, 1 in 58+, 8 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $73437.50. Description courtesy of Heritage Auctions.
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- 1852 $50 Assay Office Fifty Dollar, 887 Thous. AU58+ NGC. CAC. K-13, Low R.5. Perhaps no other issue is so evocative of the heady days of the California Gold Rush as the majestic octagonal fifty dollar gold pieces issued in 1851 and 1852, first by Moffat & Co. and then by their direct-successor firm, the United Assay Office of Gold. These octagonal coins are immediately recognizable, even to casual collectors who can identify no other private coinage issue of the era. Heritage Auctions is pleased to offer this rare near-Mint example of the popular K-13 variety from the fabulous collection of the Eric P. Newman Numismatic Education Society. The firm of Moffat & Co. was officially disbanded on February 14, 1852, with the retirement of founding partner John Little Moffat. The company was reorganized under the leadership of the remaining partners, Joseph R. Curtis, Philo H. Perry, and Samuel H. Ward, with the new name of the United States Assay Office of Gold. Augustus Humbert retained his position as United States Assayer, and the company was authorized to continue the government contract to produce gold coinage in California. The Assay Office continued to issue octagonal fifty dollar gold pieces, as they had in 1851, just changing the wording around the outer obverse border to reflect the title of the new firm. This version of the Assay Office fifty dollar issue is designated K-13 in Donald Kagin's Private Gold Coins and Patterns of the United States. A good description of the design was provided in lot 1878 of the Matthew Adams Stickney Collection (Henry Chapman, 6/1907): {blockquote}"1852 $50. Eagle standing to left on rocks, supports U.S. shield and three arrows in his right talon, while the left holds a bundle of arrows, around UNITED STATES OF AMERICA FIFTY DOLLARS. Above eagle on scroll 887 THOUS. Outside this central device and following the angles of the edge is UNITED STATES ASSAY OFFICE OF GOLD SAN FRANCISCO CALIFORNIA. 1852. R. Engine turned only. Border beaded; edge milled. Extremely fine. Very light scratches or nicks. A brilliant example of this very rare coin. Octagonal. See plate."{/blockquote} The coin, which was probably in a similar grade to the coin offered here, sold to an unidentified bidder for the strong price of $180. The current prices realized record for a K-13 example is $115,000, brought by the MS62 NGC coin in lot 2116 of the Milwaukee Signature (Heritage, 8/2007). The Assay Office continued to issue the K-13 fifty dollar "slugs" until Congressional legislation blindsided the California economy in the summer of 1852. On August 31, 1852, Congress passed a law prohibiting the acceptance of gold coins of less than .900 fineness for customs dues. Because parting acids for refining, and copper for alloying, the native California gold were always in short supply in the Western United States, California coiners had never succeeded in issuing coins of the federally required .900 fineness. The older Assay Office fifty dollar pieces had been either .880, .884, or .887 fine, compensating for their lower fineness by being heavier than a federal fifty dollar coin would have been, if such a coin had been struck. The new law essentially deprived California of all legal tender coinage, and precipitated a financial crisis that continued into the next year. By January of 1853, the Assay Office was able to issue new coins of several denominations with the required .900 fineness, but the issues had to be alloyed with silver, rather than copper, as there was no reliable supply of that metal in the area. Most of the gold for the new issues came from the older, lower fineness gold coins, which were promptly turned in for recoinage. As a result, most of the K-13 pieces in circulation were melted and the issue was seldom encountered after 1853. The Assay Office issued a total of 23,800 fifty dollar gold pieces of the new fineness (known as the K-14 variety today), by the end of February 1853, at least partially solving the coin shortage in the region. A dependable, federally sanctioned, medium of exchange continued to be elusive until the San Francisco Mint was established in 1854. The present coin is an attractive high-end near-Mint example, with lightly abraded orange-gold surfaces that radiate vibrant mint luster on both sides. This piece is free of the large rim bruises and deep scratches that typically plague the issue. The design elements are well-detailed, with just a touch of the always-seen softness on the central obverse. All letters in the legend remain legible and the date is bold, adding to the considerable eye appeal. This coin will be a prize for an advanced collector of California gold. Census: 17 in 58, 1 in 58+, 8 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $73437.50. Description courtesy of Heritage Auctions.
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- 1852 $10 Assay Office Ten Dollar MS63 NGC. CAC. K-12a, R.4. The United States Assay office of Gold continued the government contract to strike gold coinage in California after its predecessor firm of Moffat & Co. was dissolved on February 14, 1852. The company continued to issue coins in ten, twenty, and fifty dollar denominations, in either .884 or .887 fineness. This coinage adequately met the needs of the local economy until late summer of 1852, when a federal law was passed that required the customs collector to refuse any coin of less than .900 fineness in payment of customs duties. The ten dollar pieces were issued in several varieties, with this coin representing the scarce K-12a variety, identified by the position of the O in OFFICE directly below the N in UNITED, and strong beads around the reverse border. Most of the K-12a coins were promptly turned in for reminting into coins of higher fineness that would satisfy the requirements of the new legislation. As a result, the K-12a is scarce in today's market, but some high-quality examples have survived, possibly because the issue only circulated readily for a short time. An early auction appearance of the Assay Office ten dollar piece was in lot 213 of the Bruce Cartwright Collection (Sotheby, Wilkinson and Hodge, 6/1907): {blockquote}"Ten-Dollar Piece, 1852, Eagle with shield and ribbon inscribed LIBERTY, upon a rock, 884 THOUS on a ribbon above; R in an oblong compartment UNITED STATES ASSAY OFFICE OF GOLD SAN FRANCISCO CALIFORNIA 1852, very fine."{/blockquote} Cartwright was a collector who lived in the exotic location of Honolulu, Hawaii. It is interesting to see how far the Assay Office coins traveled in the short time they were in circulation, as examples have turned up in collections as far away as England (see Sotheby's Murdoch Collection of 7/1903). The present coin is an attractive Select example with sharp definition on all design elements and vibrant mint luster throughout. The pleasing yellow-gold surfaces, with a few hints of peach at the peripheries, show only minor signs of contact. A die crack shows on the obverse from the rim, through the lower part of the letters in TEN, continuing on through the top of the letters in UNIT. A network of spidery cracks is also evident on the left reverse, among the letters in the legend. NGC has certified only this single coin in MS63, with three finer examples in MS64 (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $49937.50. Description courtesy of Heritage Auctions.
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- 1852 $10 Assay Office Ten Dollar MS63 NGC. CAC. K-12a, R.4. The United States Assay office of Gold continued the government contract to strike gold coinage in California after its predecessor firm of Moffat & Co. was dissolved on February 14, 1852. The company continued to issue coins in ten, twenty, and fifty dollar denominations, in either .884 or .887 fineness. This coinage adequately met the needs of the local economy until late summer of 1852, when a federal law was passed that required the customs collector to refuse any coin of less than .900 fineness in payment of customs duties. The ten dollar pieces were issued in several varieties, with this coin representing the scarce K-12a variety, identified by the position of the O in OFFICE directly below the N in UNITED, and strong beads around the reverse border. Most of the K-12a coins were promptly turned in for reminting into coins of higher fineness that would satisfy the requirements of the new legislation. As a result, the K-12a is scarce in today's market, but some high-quality examples have survived, possibly because the issue only circulated readily for a short time. An early auction appearance of the Assay Office ten dollar piece was in lot 213 of the Bruce Cartwright Collection (Sotheby, Wilkinson and Hodge, 6/1907): {blockquote}"Ten-Dollar Piece, 1852, Eagle with shield and ribbon inscribed LIBERTY, upon a rock, 884 THOUS on a ribbon above; R in an oblong compartment UNITED STATES ASSAY OFFICE OF GOLD SAN FRANCISCO CALIFORNIA 1852, very fine."{/blockquote} Cartwright was a collector who lived in the exotic location of Honolulu, Hawaii. It is interesting to see how far the Assay Office coins traveled in the short time they were in circulation, as examples have turned up in collections as far away as England (see Sotheby's Murdoch Collection of 7/1903). The present coin is an attractive Select example with sharp definition on all design elements and vibrant mint luster throughout. The pleasing yellow-gold surfaces, with a few hints of peach at the peripheries, show only minor signs of contact. A die crack shows on the obverse from the rim, through the lower part of the letters in TEN, continuing on through the top of the letters in UNIT. A network of spidery cracks is also evident on the left reverse, among the letters in the legend. NGC has certified only this single coin in MS63, with three finer examples in MS64 (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $49937.50. Description courtesy of Heritage Auctions.
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- (1842-52) $5 A. Bechtler Five Dollar, 134G. 21C. AU58+ NGC. CAC. K-27, Low R.5. A rare August Bechtler variety, coined after 1841. Struck with a reeded edge. The light olive-green surfaces reveal considerable remnants of original mint luster, as coppery red-orange highlights cling to many of the devices. The fields display distinctly prooflike qualities on each side. The rims are incompletely finished on the upper half of the reverse, but most of the other design motifs are boldly produced. A thick horizontal die break crosses through the IN in CAROLINA. Census: 1 in 58+, 2 finer (8/14). Ex: Eric P. Newman Numismatic Education Society. Realized $16450.00. Description courtesy of Heritage Auctions.
