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Sale 59
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Lot 1959
Moffat & Company Assay Receipt. John L. Moffat was a silversmith in New York of long running, carrying down a family tradition. When news of the Georgia gold rush leaked out slowly, Easterners and Americans in general did not quite know what to think. After nearly a decade of reading little bits and pieces of information in newspapers, John Moffat took the plunge and went to Georgia to look for gold on his own. Auraria and the new town of Dahlonega, complete with the new Dahlonega Branch Mint were the central cities in the middle of the gold region. Other discoveries in Habersham and White Counties were contemporaneous to Dahlonega and Auraria, and much activity centered around those areas as well. But Dahlomega, with its new US Branch Mint, continued to get all the attention in the press.
Moffat went to Georgia in the late 1830's, on the heels of the bank failures of 1837-1838. It was possibly a perfect time to explore the mining region, because risk capital was non-existant due to the depression This left an opening for a good businessman, and Moffat fit the bill. He may have journeyed to Daahlonega and Auraria to look over the mines, but he found suitable property for purchase or lease in White County, only a few hours coach ride northeast of Dahlonega. Here he bought or leased property and mined gold, and began to raise his family. One or more of his children were born there during his gold escapades. Moffat's gold from his mine(s) must certainly have been sold to the Dahlonega Mint in the early 1840's, though records of specific depositors from that period are scarce to non-existent.
Before the end of the 1840's, Moffat was back in New York, but when news of the great California Gold Rush swept the nation, Moffat was off to California to seek his fortune. With significant experience as a gold miner, Moffat found that the financial side of the gold business suited him better than mining itself.
Moffat quickly became one of the champions of money in California. Recognizing the need for gold coinage there, he set about making his own $5 and $10 gold pieces, and added small ingots in varying values to the mix of circulating private gold currency. His gold pieces dating from 1849 are among the most popular and well known of all the California pioneer coiners, and the ingots stand alone as the great numismatic pieces of that form.
Speculation could easily arise regarding Moffat's 1849 gold pieces. Was all of the gold from California mines, or was some carried with him from Georgia? Most likely Moffat sold his gold in Georgia before returning to New York, but coin was in short supply in Georgia, so the possibility that he brought Georgia gold to California is a real one.
All ephemera from Moffat is Extremely Rare…only one letter from him has been located, and only four bullion receipts, one in the Henry Clifford Sale, and the others in private hands. There was not a single piece in tyhe prestigious John J. Ford Jr. Collection. These are arguably among the most desirable of all gold rush bullion receipts because of the importance of the Moffat gold coins minted at the beginning of the California Gold Rush.
Moffatt & Co., San Francisco, California, March 19, 1851. No. 168 Memorandum of Gold Bullion deposited by Teschmacher & Co. This receipt measures 7 3/4 x 5" and is printed on light blue paper with black ink. There is no printers hallmark or information provided.
Gold Dust Weight before melting 2247 dwt, Loss in melting 172dwt, Nett 2125dwt, Fineness .871, Commission 2 3/4 %, Net Proceeds $1859.91. Almost no foxing, but there is one fold on the receipt and one small ink spot above bottom border. This receipt is dated very easily during the Gold Rush and is very rare with less than a handful known. R8{2 to 3 known; however only one availabe to the public).
Estimated Value $11,000 - 12,000.
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| Realized $10,350 |
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