1860 $10 Clark, Gruber & Co. MS(PCGS#10137)

August 2023 Global Showcase Auction U.S. Coins

拍卖行

Stack's Bowers

批号

5222

等级

AU53

价格

332,047

详细说明

Impressive High Grade Clark, Gruber 1860 "Mountain Ten" 1860 Clark, Gruber & Co. $10. K-3. Rarity-5. AU-53 (PCGS). CAC. PCGS has mounted this coin with the reverse (eagle side) up in the holder. The obverse design of this historic and desirable $10 features a rather fanciful view of Pike's Peak, a famous mountain about 70 miles to the south of Denver, overlooking the present city of Colorado Springs. The obverse legend states PIKE'S PEAK GOLD with the mountain at the center, just below in small letters is DENVER, and at the base of the obverse is the denomination TEN D. The central reverse device is an eagle with a shield, clutching an olive branch and arrows, much like that of the United States Mint's contemporary Liberty Head eagle. The fields of the offered coin retain considerable luster and show a delicate copper-rose blush in areas. Scattered light handling marks from brief circulation are present, but none of the marks are deep or detracting. An arcing obverse die crack that bisects the right base of the mountain is as made. A thoroughly PQ coin at the assigned grade level that will be a beautiful addition to an advanced collection. In the late 1850s gold was discovered in the Territory of Jefferson, which included parts of modern-day Colorado. Many prospectors from the East Coast undertook the dangerous journey westward, passing through Leavenworth, Kansas where Austin and Milton Clark and merchant Emmanuel Gruber had set up a provisioning business. In 1860, the partners reached Denver and quickly set up the office of Clark, Gruber & Company, which was ready in July that same year to begin producing their own coinage. The gold used to make Clark, Gruber & Co.'s $2.50, $5, and $10 gold pieces did not meet federal purity standards, so in order to compensate the firm deliberately made them overweight, to the point that the coins' intrinsic value exceeded its stated face value by about 1%. The coins were eagerly accepted and soon Clark, Gruber & Co. became by far the largest and most important of the Colorado private coiners. While the two smaller denominations resembled their federal counterparts, the obverses of both the $10 and $20 bore a distinctive if completely fanciful representation of Pike's Peak, as above. The $10 pieces were the first coins to be produced at the new private mint, an occasion that was recorded by the Rocky Mountain Newson July 25, 1860. The issues proved successful and by October of 1860 some $120,000 worth had been struck. Provenance: From the Bill Barber Collection. CAC Population: 10 in all Mint State grades. PCGS# 10137. NGC ID: ANK3. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA. Click here to see Coins in Motion.[“Coins]