(1849) $10 Miners Bank MS (PCGS#10236)
August 2011 Chicago ANA - Rarities Night
- 拍卖行
- Stack's Bowers
- 批号
- 7553
- 等级
- AU55
- 价格
- 495,846
- 详细说明
- Undated (1849) Miners Bank $10 Gold. K-1. Rarity-6. "Plain Border" (i.e. Dentelated Border, Raised Rim). AU-55 (PCGS). CAC. The PCGS insert attributes this piece as "Plain Border," which corresponds to the Dentelated Border, Raised Rim <em>Guide Book </em>variety. Although lacking a date as part of the design, the Miner's Bank ten-dollar gold pieces were issued in California during the autumn of 1849. The firm was located in San Francisco's Portsmouth Square and was actually the institution of Wright & Co. The dies for the Miners Bank tens were prepared back East, where the K-1 examples (Dentelated Border, Raised Rim) were struck. Later, the coins and dies were shipped to California, where the K-2 examples (Crimped Border, Crushed Rim) were struck without a collar. Unlike most privately minted gold coinage made for circulation in Gold Rush California, the Miners Bank pieces were alloyed with copper to improve the durability of the coins in circulation.<br /> Even so, the Miners Bank coins were not well received in commercial channels as it was soon discovered that they did not contain enough gold to uphold the stated face value of ten dollars. Accordingly, many examples were melted, and the firm itself was dissolved on January 14, 1850. Very few coins escaped this fate, explaining the rarity of both varieties of Miners Bank tens in today's market.<br /> In addition to absolute rarity, the present example offers undeniable condition rarity, what with very little wear to sharply defined, predominantly lustrous features. Yellow-gold color is particularly vivid on the reverse, where a vibrant satin texture also dominates the outward appearance. Wispy handling marks are easily overlooked, there being none of significant size. Easily among the nicest Miners Bank tens that we have handled in recent sales, and an important offering for the specialist.<br /> <br /> <strong>Numismatic Reflections by Q. David Bowers<br /> </
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