Menu
Welcome Sign-In | Join Now
Sold for Sign-in or Join (free & quick) includes Buyer's Premium (BP) 

Description

Lustrous (!) 1849 Miners' Bank $10 Gold

(1849) $10 Miners' Bank Ten Dollars. AU58 PCGS. Kagin-1, breen-7777, R.6. Miners' Bank was a San Francisco concern that was in business at least by March 1, 1849, and possibly earlier. This is known partly because some paper currency notes were issued by the firm on that date. An example of the currency is illustrated on page 100 of Donald Kagin's reference. This was an unsuccessful business firm for the president and cashier, Stephen A. Wright and Samuel Haight, being dissolved on January 14, 1850. David C. Broderick of the Broderick and Kohler firm actually produced these coins on behalf of the bank.

Wright and Haight petitioned the customs collector to accept their coins, stating that they would be willing to give bonds of any amount required. Their petition dated August 7, 1849 was rejected. By October 16 of that year, examples of the Miners' Bank coinage had reached the New Orleans Mint where an assay took place, thus pinpointing the date of production to a two month period. The Miners' Bank coins were not widely accepted, and by April 1850 were considered a "drug on the market." An April 11, 1850 report in the Alta California newspaper noted: "Brokers refuse to touch it at less than 20 percent discount."

Two different issues were produced, and they are distinctive for either brilliant orange-gold color or attractive green-gold color. It is believed that the orange colored pieces (Kagin 1) were die trials produced in the east, while the green-colored pieces (Kagin 2) were struck in native California gold. Donald Kagin suggested that the Kagin-1 coins were struck with a collar, after which the obverse and reverse dies were transported to California, where the Kagin-2 coins were struck without a collar. These latter coins had the characteristic of weak lettering in CALIFORNIA, being struck on a constricted planchet.

The present example is clearly coined in native California green-gold (containing considerable silver in its alloy), but is an example of Kagin 1 with complete lettering and full border details. This is an amazing example, virtually Mint State, with extraordinary eye appeal and color. The surfaces have brilliant greenish gold color with nearly full luster. This example, which we believe should have been graded fully Mint State, is easily among the finest known of the type. Listed on page 300 of the 2005 Guide Book.
From The Great Western Collection of Territorial Gold.(#10236) (NGC ID# 2BBD, PCGS# 10236)

View all of [The Great Western Collection of Territorial Gold ]

Service and Handling Description: Coin/Currency (view shipping information)

Sales Tax information  | PCGS Guarantee of Grade and Authenticity  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Glossary of Terms

Auction Info

Auction Dates
July, 2005
27th-30th
Internet/Mail/Phone Bidders: 7
Members Tracking: N/A
Page Views: 1,593

Buyer's Premium per Lot:
15% of the successful bid (minimum $9) per lot.

Heritage membership

945,582
bidder-members
$893,287,390
sold in the last year

Join Now - It's Free

VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 

Consignments wanted

Only 14 days left to consign to the 2015 October 29 - November 2 US Coins Signature Auction - New York!

Learn about consigning with us

Your staff is excellent and your promptness in lot delivery is great.
J.S. ,
Salisbury, NC
View More Testimonials

HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com

Video tutorial

Getting the most out of search

Recent auctions

2015 August 12 - 16 ANA US Coins Signature Auction - Chicago
2015 August 12 - 16 ANA US Coins Signature Auction - Chicago
REALIZED $34,801,934
2015 August 13 ANA World and Ancient Coins Platinum Night Auction
2015 August 13 ANA World and Ancient Coins Platinum Night Auction
REALIZED $9,698,676
2015 August 13 ANA Currency Platinum Night Auction - Chicago
2015 August 13 ANA Currency Platinum Night Auction - Chicago
REALIZED $1,870,380

© 2015 Heritage Auctions | All Rights Reserved