An 1854-S Gold Dollar
BillJones
Posts: 33,881 ✭✭✭✭✭
I started an “all mints” set of Type I gold dollars at the fall Baltimore show. I was able to find examples from Charlotte, Dahlonega and New Orleans mints and already had a Philadelphia mint coin but didn’t spot anything from San Francisco. After some research on the Internet I learned that the 1854-S gold dollar, which is the only Type I date, is a scarce coin that is not easily located in Mint State. Fortunately an acceptable piece cropped in the FUN Heritage auction.
This piece is an MS-62. It is a full Mint State piece with a few tick marks that account for the less than Choice Mint State grade.
The year, 1854, marked the opening of the San Francisco location as an official U.S. mint. Before that it had been the location for Curtis, Perry & Ward which had operated the private minting operation of Moffat & Co. That firm had been under contract to the U.S. Treasury as an official assay office of the U.S. Government.
Working conditions at this newly appointed mint were awful. The workspace was small, cramped and poorly ventilated; and some employees were made ill as a result. Change would be slow, however. More than ten years later the San Francisco mint would mover to a new mint which would be come known as the “Granite Lady.” This building is now the site of a museum, and now, from what I’ve read, a coin show.
This gold dollar is the least expensive way to own a high grade link that original facility. The 1854 S mint $2.50 and $5.00 gold coins are rare and very expensive, and the $10.00 and $20.00 coins are very scarce in AU and above. So this little coin provides an interesting link to the beginnings of a mint mark that has grabbed the attention of collectors for many years.
This piece is an MS-62. It is a full Mint State piece with a few tick marks that account for the less than Choice Mint State grade.
The year, 1854, marked the opening of the San Francisco location as an official U.S. mint. Before that it had been the location for Curtis, Perry & Ward which had operated the private minting operation of Moffat & Co. That firm had been under contract to the U.S. Treasury as an official assay office of the U.S. Government.
Working conditions at this newly appointed mint were awful. The workspace was small, cramped and poorly ventilated; and some employees were made ill as a result. Change would be slow, however. More than ten years later the San Francisco mint would mover to a new mint which would be come known as the “Granite Lady.” This building is now the site of a museum, and now, from what I’ve read, a coin show.
This gold dollar is the least expensive way to own a high grade link that original facility. The 1854 S mint $2.50 and $5.00 gold coins are rare and very expensive, and the $10.00 and $20.00 coins are very scarce in AU and above. So this little coin provides an interesting link to the beginnings of a mint mark that has grabbed the attention of collectors for many years.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
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All of the San Francisco issue gold dollars are of very high strike quality. In high grades...these coins, especially the type 3 issues, are among the rarest coins in the entire series. the 1859 S. in honest MS grades, the unrecognized rarest coin of the gold dollar series. 9cept that 49C ow)
Thankfully some of these were carefully saved at time of issue!
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<< <i>There was an AU50 (forget the grade) of the same date also in a recent Heritage auction that I had my eye on, but didn't pull the trigger for. >>
I won that one, it was a PCGS AU50. Had been waiting for one for a while.
Tom
In a review of the auction records and POP reports I noted that this is hard to coin find nice despite what some the experts had to say about it. All of the other coins in my "gold dollars by mint" set were low end Mint State pieces with the exception of the Philadelphia mint piece I already had which was an MS-64. That's why I was on the lookout for a low end Mint State example, although I knew it would not be cheap or easy.
<< <i>That is a very nice AU example, Priller.
In a review of the auction records and POP reports I noted that this is hard to coin find nice despite what some the experts had to say about it. All of the other coins in my "gold dollars by mint" set were low end Mint State pieces with the exception of the Philadelphia mint piece I already had which was an MS-64. That's why I was on the lookout for a low end Mint State example, although I knew it would not be cheap or easy. >>
I would have to agree. It' s always difficult to justify the price difference between an xf/au and a low end mint state example, which costs multiples more. However, there is a reason for that and it boils down to scarcity. So, while I am happy with mine which was a good value in my opinion, I have no doubt that a little reach on your end for this example is well worth it. Most of these s-mints present good value purchase opportunities IMO.
Tom
it just seems san fran does not get much respect in the way of pricing or volume
interest. it may look like a good value but unless something dramatically changes
for S gold.. it will just hold steady (some obvious exceptions though).
thanks for posting it. awesome piece.