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Lot
2356

1849 $5 Norris, Gregg, & Norris Five Dollar, Plain Edge AU50 PCGS....

2010 January Orlando, FL FUN US Coin Auction #1136

 
Sold for: Not Sold
Auction Ended On: Jan 7, 2010
Item Activity: 9 Internet/mail/phone bidders
409 page views
Location: Orlando, FL
Description:
Lustrous 1849 Norris, Gregg, & Norris
Five Dollar, K-2, AU
1849 $5 Norris, Gregg, & Norris Five Dollar, Plain Edge AU50 PCGS. K-2, R.5. Period after ALLOY. Dan Brown's The Lost Symbol is a fitting read for these coins, as it was more than a half-century between their production and when the source of their enigmatic "N.G. & N." stamp finally was revealed. Among U.S. Assayer of Gold Augustus Humbert's coins sold in 1902 was a perfect example of the issue, wrapped in a piece of paper reading, "From my friends, Norris, Grigg & Norris." (Today's commonly accepted "Gregg" was also spelled "Grigg" and "Grieg" in contemporary sources.) Today they are considered the very first of the California gold issuers, having produced coins as early as May 1849. As such, their historic coinage is highly prized by collectors.
The coins appear to have circulated well, proof that they were accepted in commerce. Early assays by Eckfeldt and Dubois substantiated the firm's claim that they weighed 1 percent more than federal half eagles and sold in major cities in the East at the same premium. The present AU example is attractive and problem-free, showing a complete 5 on the high point of the shield--the first detail that wear will efface. The surfaces are antique-gold, with considerable luster remaining. A few small hits dot the surfaces, mostly on the reverse, which account for the grade. Listed on page 360 of the 2010 Guide Book. Population: 5 in 50, 19 finer (11/09). (PCGS# 10279)

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