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Moffat & Co. California Gold - 1850
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Posts: 624 ✭
I can't resist sharing the following letter from Moffat to Ludlow Beebe & Co. in New York:
Text includes: "We were pleased to learn as we did from them that our Mr. Curtis had made arrangements with you to take our coin & ingots at par & pay in American gold on presentation ... We regret to learn that there have been instances in which our assay has been too high, we have always aimed to stamp our gold a trifle under its true value, since we have learned that we have failed to do so in all instances we have excercised extreme care & believe that the like will not again occur. Your proposition to take our coin & ingots at par (& which we have taken the liberty to publish) is doing us a most essential service ..."
Text includes: "We were pleased to learn as we did from them that our Mr. Curtis had made arrangements with you to take our coin & ingots at par & pay in American gold on presentation ... We regret to learn that there have been instances in which our assay has been too high, we have always aimed to stamp our gold a trifle under its true value, since we have learned that we have failed to do so in all instances we have excercised extreme care & believe that the like will not again occur. Your proposition to take our coin & ingots at par (& which we have taken the liberty to publish) is doing us a most essential service ..."
Richard Frajola
www.rfrajola.com
www.rfrajola.com
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That is extraordinary and very important. Do researchers (i.e. Kagin, Bowers, etc.) know of the existence of this letter?
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I had purchased the item for a client because it happens to be the earliest reported Gregory's Express usage and he didn't care about the letter at all. I just re-purchased it (and I do appreciate the letter).
Image of front is below:
www.rfrajola.com
I just checked Bowers' A California Gold Rush History and this letter is not documented in that reference. Beebe, Ludlow & Co is listed though. According to Bowers, Moffat listed Beebe, Ludlow & Co as a reference in 1849 when they first went into the assaying business in 1849. Beebe, Ludlow & Co. was a NYC bank that also opened a San Francisco branch by the same name to accomodate the gold rush activities in California.
www.rfrajola.com