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    Description

    1861 Clark, Gruber Quarter Eagle, MS61
    K-5, Orange-Gold Patina

    1861 $2 1/2 Clark, Gruber & Co. Quarter Eagle, K-5, R.4, MS61 NGC. Prior to establishment of their private mint, the banking house of Clark, Gruber & Co. was one of the largest purchasers of gold dust in Colorado. The firm would ship accumulated gold dust to the Philadelphia Mint either by pony express or by stage coach. The dangerous trip required a payment of 5% of value for insurance, plus another 5% for the transportation. The loss of available funds was between three weeks to three months depending on circumstances of the delivery and turnaround at the Mint, making the idea of a local mint not only feasible, but in practical terms a necessity.

    Clark, Gruber quarter eagles, half eagles, eagles, and double eagles were minted in both 1860 and 1861, with some die modifications between the two years. The major changes on the quarter eagle from 1860 to 1861 were the coronet (CLARK & CO. changed to PIKES PEAK) and the reverse legend (PIKES PEAK GOLD DENVER changed to CLARK GRUBER & CO. DENVER). The Donald Kagin reference notes the issue is "Weak on Liberty cheek and above ear and on corresponding shield." This example shows a soft strike in those areas. A couple of small planchet depressions are visible with a glass on the obverse. The coin displays nice luster and orange-gold coloration. Listed on page 399 of the 2016 Guide Book. Census: 10 in 61, 15 finer (5/15).
    From The Twin Peaks Collection. (NGC ID# ANJY, PCGS# 10139)


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    View all of [The Twin Peaks Collection ]

    Auction Info

    Auction Dates
    July, 2015
    9th-12th Thursday-Sunday
    Bids + Registered Phone Bidders: 18
    Lot Tracking Activity: N/A
    Page Views: 1,207

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