Lot 2849
1852 Moffat & Co. (San Francisco) TEN DOLS. 2 over 1. . Breen-7711, Kagin-8. NCS graded Sharpness of AU-50. Improperly cleaned. A very pleasing looking example all the same. Some minor marks on reverse rim. Warm orange gold patina just having formed. Moffat & Company was one of the largest minting houses before the federal mint at San Francisco opened in 1854. The I in CALIFORNIA is repunched and the reverse always shows a diagonal break. All were struck February 11-14, 1852, with specimens from different ore deposits differing in color according to their alloy content.
In the early 1850s, the withdrawal of the discredited private coins of $5, $10 and $20 denominations as a result of the new U.S. Assay operations caused a new turn of affairs for Californians. Fractional currency coins of almost every nation were pressed into service by the Californians, but the supply was too small to help to any extent. Moffat & Company proceeded in January 1852 to issue a new ten-dollar gold piece bearing a Liberty head and also one with this eagle and shield motif.
Estimated Value $5,000 - 5,500.
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