1849 Pacific Co. (San Francisco) $1 Trial Piece. G-6. The important radiate-cap "signature side" of the Pacific Co. shows clearly on this curious silver item. While the history of this private coiner remains largely murky, it was one of the first mints to rise to the need for gold currency at the start of the great Gold Rush. A charming account may be read in Edgar Adams' Private Gold Coinage book of 1912, pages 58-62. The dollar-denomination coin seems known only in trial and off-metal form. It was not made in gold, or at least hasn't survived or been located, thus it is the rarest in this mysterious series. As our photo shows, the "logo" of the Pacific Co. shows within a broad rim: the Liberty Cap circled by stars and rays, with "1 DOLLAR" beneath. This trial piece was coined over a silver 1776 Spanish Un Real. How it came to be so heavily circulated might fascinate the imagination, but it bears no heavy scars from use. The toning is deep, making it resemble a copper or bronze coin. We might note that the important Clifford Collection sold in 1982 did not have one of these. This specimen was purchased privately from Bowers & Ruddy Galleries in March 1977 for $1,750. An important rarity for the Territorial buff!
