1861 $2 1/2 Clark, Gruber & Co. Quarter Eagle MS63 PCGS. CAC. K-5, R.4....

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1861 Clark, Gruber Quarter Eagle, MS63
Federal-Style Gold Piece, K-5
Tied for Finest at PCGS and CAC

1861 $2 1/2 Clark, Gruber & Co. Quarter Eagle MS63 PCGS. CAC. K-5, R.4. Well-known for their Pikes Peak gold coinage and well-respected throughout Colorado and elsewhere in the West for their honest banking practices and gold coin, Clark Gruber & Co. Steam-powered coinage operations operated on a 24-hour basis for two years until the firm's equipment was purchased by the Federal government for a planned Denver Mint. The transfer of ownership did not occur until April 1863. By then, gold production in Colorado diminished and it was another 43 years before a Denver Mint finally opened.

Don Kagin and David McCarthy's book, America's Golden Age: Private & Pioneer Gold Coins of the United States 1786-1862, notes this about the 1861 K-5 quarter eagle: "The finest known example is choice uncirculated, and any attractive, mint state piece would qualify for the condition census." This example serves as the plate coin in that book. Original surfaces are exceptionally well-struck for the issue, with attractive orange and red-gold coloration. PIKES PEAK occupies the coronet on the obverse, while CLARK GRUBER & CO. DENVER appears on the reverse. The date is haphazardly positioned on the obverse die. Recutting is visible on the star above the P in PIKE -- some coins show the star with no recutting, but in our opinion, they represent a different die state of a single variety. The hair cords, beads, and curls are richly textured on the obverse, as are the eagle's feathers, olive leaves, and shield stripes on the reverse. This coin is an undeniably impressive example, tied for the finest known at PCGS, with the all-important CAC endorsement that places it alone atop the Condition Census for the K-5 variety. Listed on page 421 of the 2024 Guide Book. Population: 3 in 63, 0 finer. CAC: 1 in 63, 0 finer (11/23).
Ex: The Riverboat Collection of Territorial Gold/CSNS Signature (Heritage, 4/2014), lot 5462; Great Collections, 3/2022, which brought $72,633.
From The Old Pioneer Collection.

Coin Index Numbers: (NGC ID# ANJY, PCGS# 10139, Greysheet# 11739)

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