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Lot
5791

1855 $50 Wass Molitor Fifty Dollar AU55 NGC. K-9, R.5. Although the Wass, Molitor fifty dollar pieces are not extreme rarit...

2006 August Denver, CO Signature & Platinum Night Auction #414

 
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Auction Ended On: Aug 14, 2006
Item Activity: 8 Internet/mail/phone bidders
1,240 page views
Location: Denver, CO
Description:
Impressive 1855 Wass, Molitor Fifty Dollar, AU55
1855 $50 Wass Molitor Fifty Dollar AU55 NGC. K-9, R.5. Although the Wass, Molitor fifty dollar pieces are not extreme rarities, examples only appear for sale infrequently, and it is rare indeed that more than one example appears in the same sale. Wass, Molitor and Kellogg & Co. were the last two private gold issuers in California, as the San Francisco Mint increased operations. After producing a modest quantity of pieces, the firm closed down its operation. The following year found Wass seeking employment and Molitor living in London.
Most of these large coins were melted and reminted into official federal gold coinage, although a few survived and now about 70 or 80 examples are believed to exist. This Choice AU example is a pleasing green-gold representative of the design. Minor scratches and light abrasions can be seen, and these are expected at this grade level, especially when the large size of this piece is considered. The obverse has a minor rim bruise at 10 o'clock and the reverse has a few others. It appears that the surfaces, which are a tad too bright, may have been lightly cleaned. A vertical crack in the slab on the reverse from 6 o'clock does not affect the coin in any way. Listed on page 358 of the 2007 Guide Book.
From The Wyoming Collection. (PCGS# 10363)

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