1849 Moffat & Co., TEN D. Gold Eagle

Coin Details

Auction Record

$66,000 AU58 01-16-2022 Heritage Auctions

Description

This variety of Moffat’s 1849 ten-dollar piece is distinguished by the abbreviated TEN D. reverse inscription, as opposed to the fully spelled TEN DOL. Found on the other die pairing. The abbreviated form is generally considered the scarcer of the two varieties, though both are rare in absolute terms. The distinction provides insight into Moffat’s die-making process, which involved hand-cutting individual letter punches into steel dies under challenging frontier workshop conditions. The obverse follows the same Liberty Head pattern used across Moffat’s early coinage, featuring a left-facing portrait of Liberty wearing a coronet, encircled by thirteen stars and the date 1849 below. The reverse eagle is rendered in a style that, while competent, reveals the limitations of die-sinking equipment available in early San Francisco compared to the sophisticated machinery at the Philadelphia Mint. Despite their somewhat crude appearance by federal standards, Moffat’s eagles were eagerly accepted throughout California. The firm’s reputation for honest weight and fineness meant that these coins traded at face value or even at a slight premium over competing private issues. Contemporary accounts describe Moffat coins being specifically requested in commercial contracts, a testament to the trust the assayer had built through consistent quality.

Rarity Notes

Rare, slightly scarcer than the TEN DOL. Variety. Most survivors are well-circulated, typically grading VF or below. Choice examples above EF are seldom encountered.

Cross References

K-6 (Kagin); PCGS #10249; NGC #31072; Moffat & Co., San Francisco