Lot 1796
1861 Clark, Gruber & Co. (Denver, Colorado) $5 Gold. PCGS graded AU-58. A triflely softly struck in the centers with plenty of mint luster intact. A touch of lovely golden toning adds to its appeal. A satiny example of this elusive Colorado Pioneer or Territorial issue with dynamic luster within the devices and choice surfaces far afield from the normal scruffy look of these rare $5 gold pieces. Would take years to locate a choicer looking AU58 specimen. In an old green label holder.
The firm of Clark, Gruber & Co., Leavenworth, Kansas bankers, established a branch in Denver following discovery of gold deposits in the area in 1859, primarily in the mountains to the west. In time, the firm grew to become Colorado's largest mint, an operation which subsequently laid the foundation for the government mint in the same city. Partners were Austin M. Clark, Milton Edward Clark, and Emanuel Henry Gruber.
Struck in what was known as the Jefferson Territory (Colorado) in very limited quantities. Experts quote the mintage at about 6,920, but as with other Pioneer gold coins, many saw extensive circulation and many were melted and turned into federal gold coinage. On April 16, 1863 the federal government purchased the Clark-Gruber & Co. firm with all of its equipment which eventually became the Denver mint. Pop 5; 2 in 62, 2 in 63 (PCGS # 10140) .
Estimated Value $20,000 - 22,000.
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