If you are thinking that the 1892 Columbian Exposition silver Half Dollar rates the ranking. You are wrong. The commemorative coin that rates First Place was struck late in 1848 by the Philadelphia Mint and released into circulation in January, 1849. It is a gold coin. It is a Quarter Eagle ($2 1/2) with the abbreviation CAL. on its reverse above the eagle. Philadelphia minted 6,500 1848 business strike Quarter Eagles and 1,389 CAL. commememorative Quarter Eagles. The U.S. Mint at Charlotte struck 16,788 1848 Quarter Eagles (mint mark "C") What is considered a Commemorative coin? Here's the opening statement from the article "Early Commemorative Coins of the United States" excerpted from the CoinCollector's January 5, 2009 edition: "During the past 120 years, the United States has released hundreds of commemorative coins. Commemorative coins are always minted for a specific reason such as to honor a person, institution, place or some historic event that has shaped America." From grade school's history lessons, you learned about the 49ers and have an inkling as to Sutter's Mill and its important role in the Gold Rush days of 1849 California. However, our first commemorative's own history begins in 1848: Here's a written reminder of that historical discovery: "In January 1848, James Marshall, during the process of constructing a sawmill for Johann (John) Sutter at Coloma on the American River upstream from what is now Sacramento, found a few shiny flecks of what turned out to be gold. When word got out, fortune seekers from all over the world descended on California, heading for the Sierra Nevada foothills, to seek their fortunes. California, which had just recently become an American possession and indeed was technically still in Mexican hands when Marshall made his discovery, achieved full statehood before 1850 ended, and has never looked back since." President James K. Polk stoked the fires within the hearts and minds of fortune hunters with his annual address in December 1848 along with news of the arrival of California gold at the Philadelphia Mint in the same month. The first deposit in 1848 of California gold from the American River was given to the Philadelphia Mint by David Garter on December 8th for evaluation. Mint Director Robert M. Patterson reported in due course that the gold, amounting to 1,804.59 ounces, assayed slightly over $18 per ounce. On December 9th, the following day, 228 ounces averaging .894 fine were deposited at the Philadelphia Mint from gold sent by R. B. Mason, Jr., in California. This unrefined metal had been purchased at the bargain rate of $10 per ounce (pure gold was worth $17.15 net per ounce at the mint) by an army quartermaster in California under the sanction of the acting governor, using money from a civil fund. This gold was transmitted from California with a letter dated August 17, 1848, via a messenger, Lt. L. Loeser. When Loeser arrived at the trading port of New Orleans on November 24th enroute to Washington, the Commercial Times of that city printed an account which attracted wide interest among its readers. When Loeser subsequently arrived in DC, The Washington Union's front page conveyed the following: "...We readily admit that the account so nearly approached the miraculous that we were relieved by the evidence of our own senses on the subject. The specimens have all the appearance of the native gold we had seen from the mines of North Carolina and Virginia; and we are informed that the Secretary will send the small chest of gold to the Mint, to be melted into coin and bars, and most of it to be subsequently fashioned into medals commemorative of the heroism and valor of our officers. Several of the other specimens he will retain for the present in the War office as found in California in the form of lumps, scales, and sand; the last named being of different hues, from bright yellow to black, without much appearance of gold. However skeptical any man may have been, we defy him to doubt that if the quantity of such specimens as these be as great as has been represented, the volume of gold in California must be greater than has been hitherto discovered in the old or new continent; and great as may be the immigration to this new E1 Dorado, the frugal and industrious will be amply repaid for their enterprise and toil." In case you are leaning toward the idea this is not about a commemorative coin please read the following interchange: Secretary of War W. L. Marcy wrote the following to Mint Director Patterson on December 8, 1848, concerning the first official government deposit of 228 ounces, which subsequently arrived via Lt. Loeser on December 9th: "If the metal is found to be pure gold, as I doubt not that it will be, I request you to reserve enough of it for two medals ordered by Congress and not yet completed, and the remainder, with the exception of one or two small bars, I wish to have coined and sent with the bars to this department. As many may wish to procure specimens made with California gold, by exchanging other coin for it, I would suggest that it be made into quarter eagles with a distinguishing mark on each, if any variation from the ordinary issues from the Mint would be proper and could be conveniently made..." Nothing was heard from the Mint, and Marcy inquired concerning the progress of the coinage. On January 5, 1849, Mint Director Patterson replied: "The amount of your deposit of gold, made on the 15th ult., is now ready for delivery in California gold. It is our practice to pay for deposits as soon as their value is ascertained; but this could not be done in the present case because payment was required in coins made of the bullion deposited. Before the Cal. gold could be used it had to undergo the process of parting in order to separate it from the excess of silver which it contains. This was one source of delay. Another occurred by the time required for stamping the letters CAL. on the quarter-eagles as you desired. Your payment of $3910.10 will be made up of $3474.64 in coins and $435.46 in two bars of gold as melted from the grains. The California gold reserved for the medals is from another deposit..." Remember in 1848 the smallest United States gold coin was the quarter eagle. (The gold dollar wasn't introduced until the following year, 1849.) The estimated 1,389 quarter eagles from the first government deposit bore the notation CAL. on the reverse, thus making them the first commemorative coins ever issued by a United States mint. The fact that these are true commemoratives is without a doubt, as the above government correspondence indicates that the pieces were to have been made to satisfy those seeking a souvenir coin specifically made from California gold. As far as we know, at this time, no records survive as to the actual mintage of the 1848 CAL. quarter eagle, apart from the correspondence quoted earlier, which noted that the coins were ready by January 5, 1849, and that a delay had occurred because of "the time required for stamping the letters CAL." Here's a photo of the 1858 CAL. Quarter Eagle courtesy of PCGS: http://www.pcgscoinguide.com/displa...ype&additional_pages=3&guidesubcategoryid=825 Thought you'd like to know... Clinker
A neat story with a family connection to one of the principles in the early part of the story who would become a largely forgotten footnote in history. In fact our family records have more on the man than most people know, why he was there and what happened afterwards.
Yep, gotta love those old California gold coins. here are some 1851 less than a dollar gold piece from the Golden State. Traci :hail:
another post jam packed with information, thanks for taking the time and effort and sharing this with the cointalkers.
Hi Chip: I'm 74 years old and posting my "TRIVIA" articles keeps me goin so I gratefully "Thank you" for your positive comment... Clinker
