Important Choice AU Miners' Bank Ten Dollar(1849) $10 Miners' Bank Ten Dollar AU55 PCGS. K-1, R.6. Plain or normal border, raised rim. The Miners' Bank was an early gold rush San Francisco business. The firm issued one, three, and five dollar notes on March 1, 1849, and later issued undated fractional denominations. Ten dollar gold pieces were struck prior to August 9, 1849, since the firm's president and cashier, Stephen A. Wright and Samuel Haight, unsuccessfully petitioned the customs collectors on that date to accept their coins. The New Orleans Mint assayed examples of the ten dollar coins on October 16 of that year. The firm was dissolved on January 14, 1850.
Along with other 1849 private gold coiners, with the exception of Moffat & Co., the Miners' Bank coins were discredited by local assays. An April 11, 1850 report in the Alta California newspaper noted: "Brokers refuse to touch it at less than 20 percent discount." Most were eventually melted by bankers and other arbitragers, often with their alloy converted to U.S. Assay Office "slugs."
Two different varieties were produced. Specialists believe the orange-gold (copper alloy) pieces (Kagin 1) were die trials produced in the east, while the green-gold (silver alloy) pieces (Kagin 2) were struck in native California gold. Donald Kagin suggests 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.
The present piece is well struck and exhibits considerable bright luster. No marks are consequential. An identifier is provided by a mint-produced lintmark on each side of the left (facing) wing near the wingtip. The number of territorial gold type collectors vastly exceeds the number of surviving Miner's Bank gold pieces. Listed on page 357 of the 2008 Guide Book. Population: 4 in 55, 5 finer (11/07).
Ex: American Numismatic Rarities, 8/06, lot 1127, which realized $63,250.
From The Madison Collection. (NGC ID# 2BBD, PCGS# 10236)
View all of [The Madison Collection ]
Fees, Shipping, and Handling Description: Coins & Currency (view shipping information)
Sales Tax information | PCGS Guarantee of Grade and Authenticity | Terms and Conditions
Bidding Guidelines and Bid Increments
Glossary of Terms
Buyer's Premium per Lot:
15% of the successful bid (minimum $9) per lot.
Opens about 05/22/2017
Opens about 05/29/2017
Opens about 06/02/2017
World & Ancient Coins
Opens about 05/30/2017
Opens about 06/02/2017
Fine & Rare Wine
Opens about 06/05/2017
Jewelry & Timepieces
Opens about 05/26/2017
Opens about 06/06/2017
Opens about 06/08/2017
Comics & Comic Art
Opens about 06/12/2017
Opens about 06/16/2017
- Past Auction Values (prices, photos, full descriptions, etc.)
- Bid online
- Free Collector newsletter
- Want List with instant e-mail notifications
- Reduced auction commissions when you resell your
- Cash Advances
- More Bidders
- Trusted Experts
- Over 200,000 Satisfied Consignors Since 1976
Learn about consigning with us
Everyone at Heritage Auctions that we have come in contact with has been truly amazing to work with. The professionalism and expertise is evident in all they have done for us.View More Testimonials
HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)