1855 $10 California Gold Eagle - Wass Molitor & Co. NGC AU55
SOLD
SKU
1735967005
Deep yellow-gold throughout with a whisper here and there of mint frost and olive iridescence. Surfaces somewhat roughened from its stay in circulation, though most of the blemishes are only available under a loupe. Styled after the federal issues of the day, Liberty’s tiara reads W M & Co. rather than the federal LIBERTY; there are 13 stars around and the date below Miss Liberty’s icon, although it's nearly always difficult to discern all of the stars due to the crude method of manufacture. Also, the second "5" of the date is on a “plug,” which amounted to a highly unusual method of manufacture; rather than create a new die. This feature was characterisitc of the 1852 gold eagle issue, too.
This rare privately struck eagle from the halcyon days of California’s Gold Rush is among the finest certified by NGC to date, and is no doubt a coin that should be considered Condition Census for the type.
WASS, MOLITOR & COMPANY
Founded by Counts S.C. Wass and A.P. Molitor, Hungarian political exiles from the War of Independence. Its principals were well schooled, (trained at the German school of mines) and upon announcing their opening promised to assay and pay-out on gold dust within 48 hours, some six days better than the United States Assay Office. They were good to their word and soon developed a sterling reputation. In January 1852, Wass, Molitor began issuing five and ten dollar coins to fill the acute need for smaller denominations; their products assayed at a premium over the stated value of the coin, and were well received. When the U.S. Assay Office began issuing its own lower denomination coins in 1853 and 1854, Wass, Molitor suspended their coining operations.
After the opening of the U.S. Mint a year earlier, most of the other private coiners had ceased operations. But, in 1855 the federal operation developed technological problems and had to suspend operations. Another coin shortage bedeviled the economy and local businesses beseeched Wass, Molitor to again begin production. Wass, Molitor leaped into the gap, and produced ten, twenty and fifty dollar denominations. The ten dollar gold piece was clearly an emergency issue, with the last digit of the date of an 1852 die crudely replaced with a 5 on a raised disk. When the Mint went back into business, Wass, Molitor ceased their coin production for good, and the company was dissolved a year later.
| PCGS # | 10354 |
|---|---|
| Grading Service | NONE |
| Year of Issue | NONE |
| Grade | NONE |
| Denom Type | N/A |
| Numeric Denomination | $10 |
| Mint Location | NONE |
| Designation | NONE |
| Circ/UnCirc | Not Specified |
| Strike Type | N/A |
| Holder Variety | Wass, Molitor & Co. |
| Grade Add On | NONE |
| Holder Type | N/A |
