Lot 1934
1861 Copper $5 Clark-Gruber K-10c. NGC graded MS-64 BN PQ. Some mint red visible on the obverse. Pop 1; none finer at NGC
Although not the only enterprise destined eventually to alleviate the problems of trading Colorado gold dust by converting it into coin, Clark, Gruber & Co. became the most respected financial organization in Colorado's pioneer days. It acted both as a bank and a mint, eventually with branch offices in Central City, Colorado, and Salt Lake City, Utah, and maintained a high reputation for competence and integrity.
During its operation, Clark, Gruber & Co. issued a total of $594,305 worth of gold coins and a few rare copper strikes from the same dies. The gold was widely accepted at par, and the firm's reputation was above reproach. Historian Jerome Smiley felt that Clark, Gruber & Co.'s operations "were of immense benefit to the general banking business of the firm and gave it many advantages over competitors without a minting annex. An enormous and profitable business was transacted, and in all its operations the firm's honor and integrity were never questioned."
Estimated Value $1,000 - 1,250.
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| Realized $7,188 |
