1852 $5 California Gold Wass, Molitor & Co., Large Head PCGS MS Genuine Repaired
SOLD
SKU
39570545
The Wass Molitor five dollar denomination is rare in any grade and any state-of-preservation. PCGS has graded a mere 13 in all grades ragning between Fine-15 to AU-55. NGC has only seen 3 coins. In 2004, our friends at the Goldberg Coins & Collectibles company auctioned the PCGS AU55 graded coin and described it as "...This is a very rare variety with fewer than 20 auction records recorded in nearly 75 years. We feel that fewer than 20 specimens exist, and most of these grade only Good to Fine. We are unaware of more than 3 which are as nice (or finer) than this example." (They were referring to the Bernard Shore specimen first offered in 1988). The repair mentioned on the insert appears to be on the fields as the coin looks to have been smoothed in some distant past.
WASS, MOLITOR & COMPANY
San Francisco
The firm of Wass, Molitor & Co. was founded by two Hungarian political refugees in 1851. They originally went into business only as refiners and smelters. According to the “San Francisco Herald” of November 19, 1851, “These gentlemen have acquired a thorough and practical knowledge of mining in all its ramifications in the celebrated School of Mines in Germany.” This would indicate they were among the few men dealing with gold in California at the time who had any professional qualifications. Most of the others were rank amateurs. The firm’s equipment and machinery was among the best that could be found in California.
It was during the latter part of 1851 that the shortage of small gold coins was severely felt. The regular United States issues, and those foreign coins accepted by the Treasury, were all hoarded to pay customs duties on foreign goods imported into California. Yielding to this pressure, Wass, Molitor & Co. issued their first $5.00 gold piece on January 8, 1852 and a $10.00 denomination soon followed. None were apparently struck during the years 1853 and 1854, but $10.00 and $50.00 pieces were produces in 1855. Their coins were extremely neat in appearance and had on characteristic that made them most unusual. The $5.00 pieces assayed out at $5.04, quite a change from the shady products of many of the other private mints.
Note: The quickest way to determine whether this coin is the large or small head is to examine the bustline of liberty. On the large head, the bustline curves up and over the 1 in the date. On the small head, the bustline curves down and points to the one in date.
| PCGS # | 10342 |
|---|---|
| Grading Service | PCGS |
| Year of Issue | 1852 |
| Grade | NONE |
| Denom Type | California Gold |
| Numeric Denomination | $5 |
| Mint Location | NONE |
| Designation | NONE |
| Circ/UnCirc | Uncirculated |
| Strike Type | Business |
| Holder Variety | Wass Molitor, Lg Head |
| Grade Add On | NONE |
| Holder Type | N/A |
