Lot 4236
1849 Norris, Gregg & Norris (San Francisco) $5 Gold. Plain edge. PCGS graded Kagin-2. AU-55. Nice luster and orange gold toning. Struck on a typical natural greenish-gold tinted planchet with abundant mint brightness in the protected areas around the eagle and legends. The surfaces are much choicer than the few remaining scruffy examples known from circulation, there being a slight concentration of marks in the reverse field below the date. Sharply defined throughout with only the barest friction over the highpoints. The shield with its crude 5 (for 5 dollars) is marginally weak, as almost always the case. This is a bright and attractive specimen of one of the first privately issued gold coins in California and excellent for type purposes.
The Norris, Gregg, & Norris issues are entirely dissimilar in appearance to the regular United States Liberty $5 gold pieces of 1849. At the time, these coins were accepted as a circulating medium of exchange during the gold rush years. Eventually many disappeared or were likely recoined into federal gold coins once the San Francisco mint began accepting deposits of bullion.
Norris, Gregg, & Norris, one of the earliest private gold minters in California brought their minting equipment from New York to Benicia on the northeast corner of San Francisco Bay during the spring of 1848. By the end of May, they were striking $5 gold coins. (Several months later, they moved their operation to Stockton where they issued additional five-dollar pieces with the work STOCKTON on them.) Pop 6; 3 in 58; 1 in 61; 4 in 62; 1 in 63. (PCGS # 10279) .
Estimated Value $13,000 - 15,000.
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