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Pioneer Gold Discovery - You Guys See It First...
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It's been a very long time since I posted anything here, but this morning I made a chance discovery that is fairly interesting, although given the rarity of the issue, I'm doubtful that the information will do much to increase the value of the coins in question.
The Massachusetts & California Company is one of the rarest of all California Pioneer Gold Coins - there are a total of four pieces that we can account for today, three in private hands and one in the collection of the Smithsonian Institution. These coins have been avidly sought by collectors since the 19th Century; however, their scarcity has led most collectors to settle on the purchase of a Massachusetts & California pattern in order to "fill the hole" in their collection. There are probably eight or nine die pairs that were used between 1849 and the mid-20th Century to strike real $5 and $10 off-metal patterns, real $5 gold coins, unofficial $5 restrikes (mostly from altered original dies), and fake Half Eagles in a variety of metals, including gold.
Around 10 years ago, I had a complete group of varieties together in one place and, by comparing punches, concluded that three sets of these dies were used to strike the original group of patterns and gold coins. These dies are designated Kagin.1, Kagin.2, and Kagin.6 in the "Patterns, Die Trials & Experimental Pieces" Appendix of Don Kagin's book, "Private Gold Coins and Patterns of the United States".
Kagin.1 was the die pair used to strike the known $5 gold coins, as well as a handful of silver and copper patterns. Kagin.2 was used to strike $5 patterns in silver and copper, all of which had a nearly identical fabric to the K.1s. The Kagin.6 dies were $10 pieces and are known by two examples struck in copper - they were made using the same punches as the K.1 and K.2 dies.
A client called me this morning with questions about the K.2 variety and in the course of the discussion, I looked up the Mass & Cal information on CoinFacts, where I noticed a photo of the only example in gold that I had not personally studied in-hand. Much to my surprise, the newly-listed piece was struck using the K.2 dies! Here are pictures of the two varieties courtesy of CoinFacts:
Kagin.1 - PCGS MS63 (Star Distant From Spear/Centered "FIVE D."):
Kagin.2 - PCGS AU58 (Star Touches Spear/"FIVE D." to Right):
I'll probably be writing a more in-depth article about this at some point, but figured that it would be interesting to share here first.
Thanks!
The Massachusetts & California Company is one of the rarest of all California Pioneer Gold Coins - there are a total of four pieces that we can account for today, three in private hands and one in the collection of the Smithsonian Institution. These coins have been avidly sought by collectors since the 19th Century; however, their scarcity has led most collectors to settle on the purchase of a Massachusetts & California pattern in order to "fill the hole" in their collection. There are probably eight or nine die pairs that were used between 1849 and the mid-20th Century to strike real $5 and $10 off-metal patterns, real $5 gold coins, unofficial $5 restrikes (mostly from altered original dies), and fake Half Eagles in a variety of metals, including gold.
Around 10 years ago, I had a complete group of varieties together in one place and, by comparing punches, concluded that three sets of these dies were used to strike the original group of patterns and gold coins. These dies are designated Kagin.1, Kagin.2, and Kagin.6 in the "Patterns, Die Trials & Experimental Pieces" Appendix of Don Kagin's book, "Private Gold Coins and Patterns of the United States".
Kagin.1 was the die pair used to strike the known $5 gold coins, as well as a handful of silver and copper patterns. Kagin.2 was used to strike $5 patterns in silver and copper, all of which had a nearly identical fabric to the K.1s. The Kagin.6 dies were $10 pieces and are known by two examples struck in copper - they were made using the same punches as the K.1 and K.2 dies.
A client called me this morning with questions about the K.2 variety and in the course of the discussion, I looked up the Mass & Cal information on CoinFacts, where I noticed a photo of the only example in gold that I had not personally studied in-hand. Much to my surprise, the newly-listed piece was struck using the K.2 dies! Here are pictures of the two varieties courtesy of CoinFacts:
Kagin.1 - PCGS MS63 (Star Distant From Spear/Centered "FIVE D."):
Kagin.2 - PCGS AU58 (Star Touches Spear/"FIVE D." to Right):
I'll probably be writing a more in-depth article about this at some point, but figured that it would be interesting to share here first.
Thanks!
What is now proved was once only imagined. - William Blake
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Latin American Collection
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
What is now proved was once only imagined. - William Blake
Very cool find!
- Marcus Tullius Cicero, 106-43 BC
<< <i>Very cool! Here's one you sold me a few years back.
Based on your other thread, someone paid a premium….but who?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
What is now proved was once only imagined. - William Blake
<< <i>It's interesting to compare the legs of the deer on the gold and silver K-2's. >>
Blowing them both up from the largest size originals that I have here makes it look like the difference is mostly in the lighting. The outlines actually matched in an overlay.
What is now proved was once only imagined. - William Blake
Check out some of my 1794 Large Cents on www.coingallery.org
<< <i>David, on Kagin 2, did you mean to say Star Touches Spear/ "Five D." to the Right?? >>
D'oh!
What is now proved was once only imagined. - William Blake
<< <i>For pioneer that is great workmanship >>
The dies were cut on the East Coast and people have generally agreed (at least since Adams in the early 20th Century) that the coins were struck there as well.
What is now proved was once only imagined. - William Blake
Thanks for sharing it here
I love the history of pioneer gold.