A.C. Dwyer's Coin Stories

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1852 $10 Gold Moffat & Co.

Wide Date - S.S. Central America

PCGS XF-40

 

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The Arlington Collection of Shipwreck Treasure

 

 

The Arlington Collection of Shipwreck Treasure

 

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About the Coin

 

Contemporary accounts referred to the gold coins struck by Moffat & Co. as "Moffat's gold."  In 1852, there was a shortage of coins in San Francisco and with merchants desperate for coins, Moffat & Company struck 8,650 $10 gold pieces.

 

Later in 1852, Moffat & Company was reorganized as the United States Assay Office. Most of the 1852 Moffat gold coins never left California and many made their way to the new United States Assay Office and were melted and restruck into $50 gold "slugs."

 

This example from The Arlington Collection is one of my all-time favorite coins. The wide date variety in The Arlington Collection is one of only eight recovered from the S.S. Central America shipwreck. This compares to over 1,000 1856-S and 5,000 1857-S uncirculated $20 double eagles that were recovered. 

 

The small number of similar pieces recovered and the worn condition of this piece leads one to believe that this coin was probably passenger gold. One can easily imagine all the California saloons and poker games that this coin probably participated in at the height of the California gold rush.

 

Weight: 264 grains 

Fineness: 880 Thousands

 

PCGS Price Guide: California Gold (1849-1855)

 

Article: How to calculate the content and value of gold or silver in a coin