LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

3437

1860 $10 Clark, Gruber & Co. Ten Dollar MS61

Currency:USD Category:Coins & Paper Money / US Coins Start Price:42,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1860 $10 Clark, Gruber & Co. Ten Dollar MS61
<B>1860 $10 Clark, Gruber & Co. Ten Dollar MS61 PCGS.</B></I> K-3, R.5. After their facility began functioning as a mint, the Clark, Gruber coinage was issued in significant quantities. From the beginning of their operations in July 1860, through the end of calendar year 1862, the firm issued a total of $594,305 in gold coins. Walter Breen attempted to estimate original mintages in his <I>Complete Encyclopedia,</B></I> based on rarity ratings provided by Donald Kagin. For this 1860 ten dollar piece, Breen estimated a mintage of 3,500 coins. After discontinuing their coinage operations in 1862, the firm began producing gold ingots with a production reported to be as much as $828,000 in value, although not a single ingot is known today. Finally, the Clark, Gruber operation was purchased by the United States Government on April 16, 1863, with the promise of a branch mint in Denver. The facility served as a government Assay Office, and the promised Denver branch of the United States Mint finally opened for business--43 years later.<BR> The 1860 ten and twenty dollar Clark, Gruber coins were interesting in that they departed from Federal designs. The volcano-like obverse motif was designed by an East Coast engraver who had never seen the actual Pikes Peak. Both sides display bright luster throughout the legends and eagle, and the devices are exactingly struck. A few faint hairlines and thin marks on the left obverse field are expected of the grade. An impressive example of the coveted Pikes Peak variety. Certified in a green label holder, and listed on page 366 of the 2008 <I>Guide Book</B></I>. Population: 4 in 61, 9 finer (11/07).<BR><I>Ex: Carolina Gold Collection, Part Four (Heritage, 8/06), lot 5754, which realized $51,750; Mid-Winter ANA Signature (Heritage, 3/99), lot 6878, which realized $20,700.<BR>From The Madison Collection.</B></I><BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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