All Guide To Territorial Values Articles

Gold was discovered in 1848 in Sutter Creek in California. One of the first companies to take advantage of the gold strike was Norris, Gregg & Norris, in Benicia City, California.

The first coins struck with California Gold dust were coined in Salt Lake City, Nevada. The designs are truly symbolic rather than aesthetically pleasing.

During the winter of 1848, Moffat headed to California to become part of the largest gold strike in U.S. history. Unlike so many others in California, they set out to mint gold.

The 1852 Moffat and Humbert coins looked different from their earlier counterparts. The obverse had a circular pattern above and below a central panel.

The Miner’s Bank $10 Gold Eagles had a fineness of .866 when a minimum of .900 was to be sought.  Once the fineness became common knowledge, the gold coins could only trade at a 20% discount.

During the 1849 California Gold Rush, the Massachusetts & California Company saw an opportunity to begin minting Gold ore and Gold dust.

Kellogg & Company issued its first gold coins in 1854 and Kellogg claimed he could strike them at the rate of 1,000 coins per day!

Dr. John Parsons minted $2.50 and $5.00 Gold coins in 1861. It is believed that his “mint” was located in the back of his wagon.

Rather than going to San Francisco, the Ormsby’s stayed closer to the miners and that proximity brought substantial business to the brothers.