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Lot
9204

1860 $10 Clark, Gruber & Co. Ten Dollar AU58 PCGS....

2004 November Palm Beach, FL Signature Sale #358

 
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Auction Ended On: Nov 5, 2004
Item Activity: 8 Internet/mail/phone bidders
1,975 page views
Location: Palm Beach, FL
Description:
Still Lustrous, Highly Collectible, Near Mint Clark Gruber Ten Dollar
1860 $10 Clark, Gruber & Co. Ten Dollar AU58 PCGS. K-3, R.5. The start of the Colorado Gold Rush followed that of California by almost exactly ten years. Two settlements, Auraria and Denver City (the present day Denver), formed on opposite sides of the South Platte River, and by 1860 Auraria was absorbed by Denver City. During this time, the risk of loss in bullion trading was great due to increased criminal activity and little in the way of organized local security. The stage was set for a local mint, and there to fill the void was Clark, Gruber, & Co. Commerce in Colorado took a significant turn when they arrived.
C, G, & Co. bought three lots in Denver City on which to build their mint, and a two-story brick "Assay and Coinage Office" was erected on the corner of McGaa and G Streets (the present 16th and Market). Coinage began quickly and totaled approximately $120,00 between July and October of 1860. The entire area was known as the "Pike's Peak District," leading to the legend PIKES PEAK GOLD DENVER seen on the Clark, Gruber, & Co. 1860 ten and 20 dollar gold. In 1863, the federal government bought out the firm under the pretense of setting up a branch mint. As we all know, no coinage was produced at the Denver Mint until 1906.
The coin offered here is boldly struck with abundant residual luster. The color is yellow-gold and there are a few noticeable imperfections. This issue, while rare, was the first type struck at Clark, Gruber, & Co., and many were saved as the first of their kind. A nice specimen of one of the more popular territorial gold issues. Listed on page 309 of the 2005 Guide Book.
From The Greg and Lesia Hosch Collection.(#10137) (PCGS# 10137)

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