Lot 1473
1854 Kellogg & Co. (San Francisco) $20 Gold. NGC graded MS-61. Well struck with light gold toning. Fully pulsating with lovely vivid color, the surfaces are free of bothersome striking incompleteness. Struck with exactitude by the dies. This is seen in the outstanding hair waves on Liberty, a full coronet (inscribed KELLOGG & CO.), and simply bold detail on the eagle and rays above. A few of the obverse stars are flat, that is all. One of the handsomer appearing Territorial issues.
When the U.S. Assay Office of Gold ceased operation, John Glover Kellogg and his partner G.F. Richter, earlier an assayer with the U.S. Assay Office of Gold, opened the Kellogg & Richter firm, doing business as Kellogg & Co. In January 1854 numerous leading banks petitioned Kellogg & Richter, pleading with them to produce gold coins until the new Mint opened. Kellogg & Co. began coining private-issue twenty dollar gold pieces in February of that year. These resembled the federal design. Kellogg claimed that his firm could issue $20,000 worth per day. Most were later withdrawn from circulation and melted at the nearby San Francisco Mint when it opened for operations. Pop 12; 4 finer; 2 in 62; 1 in 63; 1 in 66.
Estimated Value $14,000 - 15,000.
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| Realized $12,650 |
