Interesting counterstamp 5 Dollar gold coin
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I wonder if this was done at the US Mint? I read somewhere that they punched a L into coins that were “light”…. However this practice began in 1886 but I bet it didn’t last long…I found it in a new your times article published July 23rd, 1886….
Anyone have any info?
7
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It definitely appears to be a contemporary stamp, very interesting coin! Sorry I can’t be more help.
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It was probably not done at a Mint, as said Mint would have just thrown it into a melting pot. More likely it was marked at a sub-Treasury or an Assay Office to prevent it from being re-issued. Why it was not forwarded to a Mint to be remelted we will never know.
I like the coin! I look forward to hearing what else can be said about it.
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I have heard it told that some gold was stamped with an "L" when measured under weight. Why it was not melted I am not sure.
Given that it is from San Francisco there is a chance the stamps could have been done at an assay office if the coin is indeed light. Have you weighed it?
BTW - that's a rare piece! I think there are fewer than 100 known of this date/mm.
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It is very slightly underweighted but maybe that wear…
I’ve had several $2 1/2 stamped with the L, but haven’t seen many $5 with it. I like it!
Does "L" mean Lightweight?
Interesting, I have heard/read of the L stamp, but never multiple L stamps.... That makes me think it may not be original... JMO... I have no evidence to support that. Cheers, RickO
That is what I understood it to mean, yes.
Here is a past thread where similar markings were discussed: link.
Forum members 10000lakes and burdell were able to find info stating the "L" marking was done to indicate coins below legal weight. Why they simply were not melted is a mystery to me.
I think you have something special there. A great piece of history on multiple counts.
Interesting... I have an L on a BOE Dollar from 1804... something that has the look of intrigue but nothing in terms of facts that I have uncovered to explain the circumstances
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There is also another old thread on this topic for those who are interested:
https://forums.collectors.com/discussion/comment/12680908#Comment_12680908
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