4124

1848 "CAL" $2 1/2 Gold [183627]

Currency:USD Category:Coins & Paper Money Start Price:20,000.00 USD Estimated At:40,000.00 - 100,000.00 USD
1848  CAL  $2 1/2 Gold  [183627]
SOLD
30,500.00USDto B******c+ buyer's premium (6,252.50)
This item SOLD at 2024 Aug 25 @ 10:00UTC-7 : PDT/MST
UNCLAIMED MERCHANDISE: In the event that a successful bidder has paid in full for their merchandise but fails to settle outstanding shipping invoices or make arrangements for merchandise pickup within 60 days, HWAC reserves the right to declare the merchandise forfeited. This forfeiture will result in the merchandise becoming the property of HWAC and the successful bidder shall have no claim to or rights over the forfeited merchandise.
Colonel R. B. Mason, military governor of California sent about 230 ounces of gold to Secretary of War Marcy, and the U. S. Mint made 1,389 quarter eagles stamped "CAL" above the eagle. CAC certified F details cleaned. We believe this ultimate relic of the California Gold Rush, would be gradable by another service. 56 reported specimens including regrades, six sold in the past 5 years.
According to Akers and just about every gold collector, this is one of the most popular pieces in the series because of the "Cal" gold rush imprint. While numismatists have been told this coin was minted from "the first gold from California", that is only for 1848. Shipments to the Mint are known from Southern California gold deposits as far back as at least 1844. Examples were found in the Philadelphia NARA files while I (FH) was doing research on the USAO. (It is also discussed in Pre-Marshall Gold in California by Bunje). Bowers has an excellent discussion of the process the Mint used to get these very special coins made on pages 210-211 (US Gold Coins..., 1982). Through his research, Bowers estimates that only 1,389 coins with "CAL" were made, which seems reasonable in light of their extreme rarity. Bowers also notes this coin as the very first "commemorative" gold coin in America.
This is truly a great coin!!! [] [] [] [] []