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Sale 59
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Lot 1960
Wass, Molitor & Co, Assay Receipt. Imigrating from Hungary, Count Samuel C. Wass and Agoston (Augustus) P. Molitor had studied mining in Germany at the School of Mines and both had experience as miners in their native Hungary.
Wass arrived in California in 1850 and immediately went to the gold producing regions and completed a detailed report that was published in The Alta California in January, 1851.Molior arrived that year.
Wass & Molitor set up an assay office in San Francisco in Oct, 1851, and acquired high volume client Adams & Co., the largest express company in the west and rival to Wells Fargo. Initially assaying and stamping gold ingots, they established a reputation for quick and honest service that was equalled only by Moffitt & Co. They payed depositors in 48 hours as opposed to 8 days by the U.S. Assay Office.
Wass, Molitor proceeded to produce $5 and $10 denominations in 1852 to counter the cumbersome U.S. Assay Office's $50 slug. The coins they produced were considered to be as good as any of the era because of their weight accuracy and fineness. In 1855 they did produce $20 and $50 coins.
Another interesting item of note is that this memorandum or receipt, like many of its early contemporaries, was for "Gold Dust." In today's world most of us would probably associate gold dust with an image in our minds eye of very fine pinhead sized particles of gold… almost too small or too insignificant for comment. However, the words "gold dust" had a much different meaning to the miners, assayers, and ordinary citizens of Gold Rush California during the 1850's. An 1861 reference stated the definition plainly: "Gold Dust. Placer gold is usally called gold dust; but the word dust, without explanation, conveys an erroneous idea. Gold dust is not a fine powder, but ordinarily consists of pieces larger than a pinhead, very often with lumps varying from a pennyweight to an ounce; and even if the lumps weigh ounces or pounds, it is none the less gold dust." [Ref: Hittell, J: Mining in the Pacific States of North America, 1861, pg 44 (Book cover as: Bancroft's Hand-Book of Mining for the Pacific States)].
This is possibly the only Wass, Molitor Memorandum of Gold Dust bullion/assay receipt known. At the very least it is an R8 rarity and the likelihood of it being Unique has a very high probability.
There should be no doubt among collectors that the well-preserved 1852 gold dust receipt offered here is an item of historical importance that will be a highlight of any collection. Its overall condition is Fine, having typical "pocket" folds and some minor foxing and a few very small light colored spots. There ia also some soilimg on the reverse probably due to being carried by Mr. Rosborough in one of his pockets or his wallet. The receipt is signed Wass, Molitor & Co, From the John J. Ford, Jr. Collection. R8 and possibly Unique.
Memorandum of Gold Dust Deposited by A.M. Rosborough. Inlike most other bullion deposit or assay receipts, this very early and incredibly rare Wass, Molitor is not numbered, although there is a space provided for a "No." on the preprinted receipt. The receipt measures 7 3/4 x 6 1/4" and is printed in black ink on light blue paper. Weight before melting 9 oz, 10dwt. After melting 8oz, 18dwt. Loss in melting 12dwt. Fineness .757, Value per oz $15.524, Full value $138.16, Fees $5.00.
Estimated Value $11,000 - 12,000.
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| Realized $12,650 |
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