May 28, 2001, The Fairchild Family Trust Collection, Sale 10
Lot 1120
Christopher Bechtler,
$2.50 CAROLINA, 67 gr. 21 carats, Kagin-10, Rarity-5. Sharpness of EF-40
but cleaned long ago. This one is very sharply struck and well preserved.
It has been cleaned long ago, with the usual resulting hairlines in the fields.
Rare and seldom offered, these territorial gold coins should find happy new
homes after being off the market for decades.
Estimated Value $3,000-4,000.
Lot 1121
Christopher Bechtler, 5
DOLLARS CAROLINA, 134 gr. 21 carats, with star, Kagin-20, Rarity-4. PCGS
graded AU-55. Struck circa 1837-42, this one has lovely coppery red toning
in the lettering and devices, and is well struck on a clean planchet. Only 7
graded this high, with a single coin graded a notch higher by PCGS, and none
seen yet in Mint State. An important opportunity for the specialist.
Estimated Value $6,000-7,000.
Lot 1122
August Bechtler, 1 DOLLAR
CAROLINA, 27 gr. 21 carats, Kagin-24, Rarity-3. PCGS graded AU-55.
One of the more common issues from August Bechtler, the surfaces are well
preserved and show only minor surface ticks. Mint luster survives near the
lettering. About as nice as these are usually found, they are available in mint
state, but for a much bigger price! It is important for the territorial
collector to purchase a nice example of this type coin, such as the one offered
here.
Estimated Value $1,500-2,000.
Lot 1123
August Bechtler, 1 DOLLAR
CAROLINA, 27 gr. 21 carats, Kagin-24, Rarity-3. Sharpness of VF-20 but
bent and scratched. This one has been bent and partially straightened, and
the surfaces have dull scratches on both sides. Well struck and better than we
make it sound, but inspection mandatory.
Estimated Value $400-600.
Lot 1124
August Bechtler, 5 DOLLARS
CAROLINA, 141 gr. 20 carats, Kagin-29, Rarity-7. Sharpness of EF-40 but
tooled, filed and harshly cleaned. This one has been cleaned with an
erasure to hide various tooling marks and the rims are filed. Nevertheless, it
is a rare coin, and only a few have been graded. The strike is strong, and the
details are sharp. A coin to be inspected, as it is truly rare and seldom
encountered in any grade, even with some damage.
Estimated Value
$3,000-4,000.
Purchased decades ago for $500.
Lot 1125
1849 Norris, Gregg &
Norris (San Francisco) $5 Gold. Reeded edge, Kagin-3, Rarity-6. PCGS
graded AU-58. Here is one of the finest known of this rare issue. PCGS has
only awarded this grade to 3 coins, with 2 graded in the lower range of Mint
State above. Moderate handling marks in the fields, with a small planchet crack
left of the date near the rim, continuing through the coin to the opposite
side. Well struck, with the large 5 on the shield visible. As this is one of
the early territorial issues, most of those coined were remelted into "current"
gold coinage during the ensuing years, and precious few remain for collectors
today.
Estimated Value $8,000-12,000.
Lot 1126
1849 Moffat & Co. (San
Francisco) $5 Gold, Kagin-4, Rarity-5. PCGS graded AU-55. A choice
coin for the grade with mint fresh luster and outstanding surfaces that are
alive with a golden glow. Boldly struck by the dies, and the eagle and
Liberty's curls show crisp definition. One of only 9 graded this high, with 12
graded higher. Remember, these early Territorial coins were generally not on
board the S. S. Central America, so the population will remain low. An
impressive example that has excellent surfaces and color throughout.
Estimated Value $3,000-4,000.
Purchased years ago from B. Max Mehl,
lot number (?) 3215 from an unknown sale, as "VF+" (that plus goes a long
way!).
Lot 1127
1851 U.S. Assay Office $50
"slug", 880 THOUS. Lettered edge, no 50 on reverse. PCGS graded EF-45.
Kagin-2, Rarity-5. Another rare early Gold Rush issue, this one is
well struck by the dies, with crisp details on the eagle and nicely formed
corners. The surfaces show minor handling marks, including a small identifying
dig above the eagle's head. Only 83 have been graded of this issue, with about
two thirds of those in lower grades, according to a recent PCGS Population
Report.
Estimated Value $10,000-15,000.
Lot 1128
1851 U.S. Assay Office $50
"slug", 887 THOUS. Reeded edge. PCGS graded VF-25. This is an
unusual coin, it has two small counterstamped letters on the obverse, a "C" in
the field below the tip of the eagle's left wing, and an upside down or
backwards "D" under the tip of the right wing. If these were random
counterstamps they would likely be placed together, rather than spread apart.
What is curious is that C and D were used to signify CENTS and DOLLARS as
abreviations on issues form this territorial mint. These counterstamped letters
are very small, and were almost certainly added after the coin left the dies.
As the coin clearly states FIFTY DOLLS on the lower obverse, it would be
unnecessary to hand punch in the denomination below the wings, or anywhere
else. Further, why was the "D" counterstamp upside down or backwards relative
to the coin or the "C" counterstamp?
We may never know, but this is an
interesting coin which may be worth researching. We asked our friend and noted
Territorial gold specialist, Don Kagin about the counterstamp, and he said that
he didn't recall seeing other examples.
The surfaces show moderate
handling marks, and a few rim bumps expected for the grade. The bumps are
located on the corners, as ususal. An impressive example of this popular issue.
Estimated Value $5,000-6,000.
Lot 1129
1852 U.S. Assay Office $50
Gold, 900 THOUS, Kagin-14, Rarity-5. PCGS graded AU-50. A handsome
"slug" that boasts even yellow gold color throughout, and decent rims and
corners. These heavy gold slugs received quite a bit of abuse in their day and
most are seen with banged up rims and corners. Demand for gold coins was
extremely high in 1852, and most of these were shipped back east and remelted,
or were tossed into the melting pot once the San Francisco Mint opened up in
1854. Only 23,800 were struck of this issue in early 1853, and these are
dog-gone rare in high grades! A recent PCGS Population Report shows 7 graded
this high, with 10 graded higher, and quite a few in lower grades, for a total
of 46 pieces.
Estimated Value $12,000-15,000.
Lot 1130
1852 U.S. Assay Office $10
Gold, 884 THOUS. Accugrate graded AU-55. We note that this coin has
been cleaned and we would grade the coin Sharpness of Extremely Fine-45.
Estimated Value $2,500-3,000.
Lot 1131
1852 U.S. Assay Office $10
Gold, 884 THOUS, Kagin-10, Rarity-5. Sharpness of AU-50 but the obverse
fields are tooled. The fields show some signs of tooling, probably to
remove marks or other detriment. Struck from rusted dies and still a decent
example of this popular territorial issue.
Estimated Value $1,200-1,700.
Lot 1132
1852 U.S. Assay Office $10
Gold, 884 THOUS, Kagin-12a, Rarity-5. Sharpness of EF-40 but cleaned.
The surfaces appear to have been cleaned at some time in the past. Moderate
handling marks from limited circulation gives the devices a satiny appearance.
Most of the handling marks are small in nature, and don't detract, but there
are quite a number of them for the grade. Remember, these early gold coins
weren't going to the opera every night, they were bouncing around in saddle
bags and being tossed about in saloons and constantly being hidden from thieves
and politicians. Hence, few are found with nice surfaces.
Estimated Value
$1,200-1,500.
Lot 1133
1853 U.S. Assay Office $20
Gold, 900 THOUS. PCGS graded AU-50. Here is a beautiful, original
(we think so at least) and pleasing example of this fairly common Territorial
isssue. The United States Assay Office of Gold in San Francisco was the primary
mint for the tons of gold coming out of the Sierra Mountains and surrounding
foothills and streams. Early in the Gold Rush, miners were paid far less than
their gold was worth elsewhere (New York for instance) as the business and
banking infrastructure were not yet capable of handling the massive gold flows
in the California area. Private minters and semi-government assayers helped
bring the costs down within a few years, and soon miners were receiving prices
closer to the spot price of gold for their dust and nuggets. By 1853, when this
coin was struck, a total of 2,500,000 similar coins were made from over 30
different dies. This particular coin has no upper crossbar on the I of UNITED
and the serifs on the letter E come and go at will. Despite the huge mintage,
these are still scarce, and PCGS has only graded a total of 210 pieces or so,
most of which are in high grades, or even mint state. As stated, this is a
wonderful, high grade example of this issue, there are two minor rim bumps, one
near the left wing tip on the obverse, the other on the reverse at about 10:00,
but these are the only problems we noticed.
Estimated Value $3,000-4,000.
Lot 1134
1849 Miners' Bank (San
Francisco) $10 Gold. PCGS graded AU-53. Plain Border. Even though
this circulated to some extent, it's just a wonderful memento of "pioneer
gold" made in early 'Frisco and obviously used among the miners and
merchants of its day. Why wonderful? The color, which is a deep orange gold,
indicating it retains the same look it had back when it was used for money. The
strike, too, is sharp throughout the eagle's feathers, and shows the bird's
rounded eye and deadly sharp beak. The surfaces are pocked by tiny abrasions
only, indicative of genuine use. The rims are clean and unblemished: nobody
threw this one against a wall in a drunken stupor at some Barbary Coast
drinking emporium! All in all, a joy for the collector who appreciates
originality in a coin handled by real people in an exciting and
forever-lost time in America's past. A Gold Rush classic!
PCGS has
graded one piece MS-61, another 4 as AU-58, 3 in AU-55, and 5 in AU-53. This is
a new AU-53, bringing that number to 6. However, a total of only 25 coins have
been reviewed in all grades.
Estimated Value $15,000-17,500.
Lot 1135
1855 Wass, Molitor & Co.
(San Francisco) $20 Gold. Small head, Kagin-7, High rarity-5. PCGS
graded EF-45. This one has excellent definition in the head of Liberty,
while the reverse is a touch weak as always seen on the eagle's wings and neck.
Nice rims and fields, which show only moderate handling marks. Remember, these
were just "money" back when there wasn't much money around, and all coins in
the Gold Rush areas circulated hard. The soft gold surfaces were prone to
handling marks, and all examples have them to some degree. Luster survives in
the protected areas, and this is one of the best to survive. The recent PCGS
Population Report notes only 3 graded this high, with just 2 graded higher of
the type! Only 11 have been graded in all, so don't expect a boatload to be
available at the next auction.
Estimated Value $15,000-20,000.
Lot 1136
1855 Kellogg & Co. (San
Francisco) $20 Gold, Kagin-3, Rarity-4. PCGS graded AU-53. Abundant
eye-appeal greets the viewer when this coin is examined. The surfaces are a
rich, yellow gold with coppery highlights, obviously from an old collection.
Bright mint luster abounds, and the strike is strong on both sides. A few
trivial handling marks to be expected on these large heavy coins, but they are
not distracting or disfiguring. As to the rims, they are clean and without the
usual profusion of bumps. PCGS reports only 2 graded as AU-53, with 10 graded
higher.
Estimated Value $3,500-4,500.
This one is apparently from an
old B. Max Mehl sale, date unknown, lot 1916.
Lot 1137
1849 Mormon $5 Gold,
Kagin-2, Rarity-5. PCGS graded Fine-15. Weakly struck by the dies,
and with moderate wear on both sides. The right side of the obverse has some of
the lettering worn down, but the central elements of the eye and hat (actually,
the all seeing eye of Jehovah and the Phrygian cap, which is the emblem of
Mormon priesthood) are clear. Stronger details on the reverse, with all the
lettering clear and defined, while the clasped hands are outlined, but show
little definition. On the obverse there are some dark areas, most of which
appear to be on top of the surface, one above the cap is deeper, and it may
have been caused by impurities in the metal. As noted in the Kagin reference,
these are always weak at the clasped hands and parts of eye. Probably less than
100 exist in all grades, and this is about average for the grade usually seen.
Estimated Value $3,000-4,000.
From Stack's Sale, June 26-27, 1958,
lot 304.
Lot 1138
1860 Mormon $5 Gold,
Kagin-6, High rarity-5. PCGS graded AU-50. Struck under the
authority of the Deseret Assay Office and issued by the authority of the Mormon
Church in Utah. Only 9 have been graded this high, with 14 graded higher for
this date. Well struck for the issue, with full details on most of the lion and
the bee hive on the reverse. Only a bit of wear on the high points, and this
coin may be undergraded. Mormon gold is especially popular for its design
motifs and is widely collected along with the California issues and others. An
impressive coin that will no doubt please any collector.
Estimated Value
$15,000-20,000.
Purchased from Abner Kreisberg as "Unc. a gem".
Lot 1139
1860 Clark, Gruber & Co.
(Denver, Colorado) $2.50 Gold. NGC graded MS-62. One of the few mint
state pieces known, this one is well struck with full curls on Liberty and
similar sharpness to the knobby claws on the eagle's feet. We note a tiny bonk
on the inner two points of the ninth star, and some minor handling marks on
Liberty's proud jaw. On the reverse there are some very light pin scratches or
hairlines, but they are not distracting. NGC has graded this coin alone as MS
62 and 2 higher. Similar at PCGS where 5 have been graded MS 62 with 5 graded
higher. An important and historical territorial issue. Color photo.
Estimated Value $7,500-8,500.
Lot 1140
1860 Clark, Gruber & Co.
(Denver, Colorado) $5 Gold, Kagin-2, Rarity-4. Sharpness of VF-35 but
polished. There are some light scratches in the fields and the coin has
been polished to reduce the usual surface marks. Well struck, and probably
could be improved by experts in such matters.
Estimated Value $1,200-1,500.
Purchased from Abe Kosoff's Alex Shuford Collection Sale, date unknown,
lot 2546.
Lot 1141
1861 Clark, Gruber & Co.
(Denver, Colorado) $2.50 Gold, Kagin-5, Rarity-4. PCGS graded AU-53.
Satiny gold in color with some minor lines from brief circulation. Well
balanced and struck, with clear devices on each side. Less than 100 probably
survived in all grades, and this is one of the better ones, which makes it
perfect for the collector.
Estimated Value $3,000-4,000.
Purchased
from Abner Kreisberg many years ago.
Lot 1142
1861 Clark, Gruber & Co.
(Denver, Colorado) $10 Gold, Kagin-3, Rarity-5. PCGS graded AU-53.
With some luster hidden in the lettering, and well struck from cracked
dies. Typical handling marks for the issue, with no other problems worthy of
note. Scarce this nice, with perhaps 100 known in all grades, this in the top
twenty percent or so. Additional die cracks not noted in Kagin as follows; rim
through E and bases of EAK in PEAK, and an arc from the rim through the D of
GOLD through the edge of the mountain, to the rim below. Nice rims and
surfaces.
Estimated Value $8,000-10,000.
Purchased from Abner
Kreisberg many years ago.
Lot 1143
1861 Clark, Gruber & Co.
(Denver, Colorado) $10 Gold, Kagin-7, Rarity-4. PCGS graded AU-53.
While not uncommon in AU grades, none have yet been graded as Mint State
according to PCGS. This one boasts satiny luster near the devices, and is well
struck. Liberty's headband retains enough definition to clearly read PIKES
PEAK. A few minor circulation marks, including one on the outer ball of the 6
in the date will serve to identify this specimen.
Estimated Value
$4,000-6,000.
Lot 1144
1861 Clark, Gruber & Co.
(Denver, Colorado) $20 Gold, Kagin-8, High rarity-5. PCGS graded EF-45.
Here is an extremely rare coin, only 15 have been graded by PCGS, with this
in the mid range of 5 graded as such by PCGS, and 5 are graded higher (best is
AU-55). The surfaces of this piece are quite pleasing for the grade, there are
some minor hairlines from circulation, and a shallow scratch behind Liberty's
head. On the reverse, we note minor weakness in the strike on the upper left
corner of the shield. Many collectors have never even seen one of these, and
the opportunity to purchase one is often measured in years. Examine this one
closely and see if it would fill the bill for your collection.
Estimated
Value $12,000-16,000.
No provenance information included, but likely
purchased in the 1950s or 1960s with the balance of this collection.
Lot 1145
1861 Clark, Gruber & Co.
(Denver, Colorado) Copper Pattern for the $20 Gold. PCGS graded EF-45.
Kagin-12c, Rarity-6, Copper, reeded edge. A scarce issue, PCGS has
graded 17 in various grades, including a handful of nice mint state pieces.
This one has medium chocolate brown toning on both sides, with darker areas
near the devices. Not boldly struck up, but enough so on the obverse to read
Liberty's crown. On the reverse, the eagle lacks most of the details. Minor rim
ticks and surface marks. Rare and seldom encountered.
Estimated Value
$1,000-UP.
Lot 1146
1850 California Gold Mines
Token, double eagle size, Low Rarity-7. Sharpness of EF-40. The coin
itself has been polished, which may have been done at the time the gold plating
or gilding took place. There is little known about the history of this piece,
it is believed to have been engraved by William Lemme, an early San Francisco
die cutter and the workmanship is far above average quality for the time
period. The obverse displays two rampant bears sparring and is surrounded by
CALIFORNIA GOLD MINES, A.D. 1850. On the reverse, a large eagle with
outstretched wings and a shield clutches a sheaf of wheat, with CALIFORNIA GOLD
MINES, 1850 and 5 stars surrounding. It is not known if this was some sort of
proposed double eagle, or more likely a gaming token from one of the numerous
gambling halls near the gold mining areas. All known examples are stuck in some
base metal and later gold plated. Perhaps a dozen are known in all, and this
fanciful design has always been popular with collectors for the rampant
bears.
We note a rim bruise below the A. of A.D. on the obverse and another
larger rim bruise on the lower right side of the reverse. Other handling marks
seem to have been gilded over, and it appears that this coin was used for some
time before the gilding took place, as the host coin shows some wear, but not
the gilding. The only other recent sale we could locate was the Garrett Sale
II, by Bowers and Ruddy, March 1980 lot 884 where that specimen realized $6,000
in the quietude of the gold and coin frenzy.
The coin does not state a
denomination, but is the same size as a double eagle of the period. This issue
is listed in Private Gold Coinage and Patterns of the United States by
Donald H. Kagin on page 373 and is noted as being a low rarity-7 piece. He
further states that all known pieces are gold plated. Certainly this is a rare
opportunity to purchase an historical relic from the California Gold Rush
period, and such chances only occur when great collections are sold.
Estimated Value $1,000-UP.