1849 Oregon Ten Dollar

Coin Details

Auction Record

$340,750 AU55 04-23-2014 Heritage Auctions

Description

The 1849 Oregon Exchange Company Ten Dollar gold piece is the larger denomination struck by the Oregon Territory's only authorized private mint and one of the great rarities of American numismatics. The ten-dollar denomination was produced alongside the five-dollar piece at the Oregon Exchange Company's facility in Oregon City during 1849, with significantly fewer ten-dollar pieces struck due to the larger gold requirement per coin and the practical preference for smaller denominations in frontier commerce. The obverse carries the same distinctive beaver motif used on the five-dollar denomination, surrounded by "OREGON EXCHANGE COMPANY," while the reverse displays "10 D." within a wreath with "T.O." and the date. The designs were hand-engraved by Hamilton Campbell and Victor Wallace, producing dies with a rugged, artisanal quality that stands in sharp contrast to the refined products of the Philadelphia Mint. This rough-hewn character is part of the appeal for collectors, as the coins visually embody the frontier conditions of their creation. The Oregon Exchange Company was established by an act of the provisional legislature and enjoyed quasi-official status as the nearest thing to a government mint operating in the Pacific Northwest. The coins circulated at face value throughout the Oregon Territory and northern California, with their slightly generous gold content ensuring ready acceptance. Production ceased when federal gold coins became more readily available through California-based channels. The ten-dollar Oregon is substantially rarer than its five-dollar counterpart and ranks among the most coveted territorial gold coins in American numismatics.

Rarity Notes

Extremely rare. Estimated 15-25 surviving examples across all grades. Substantially rarer than the five-dollar denomination. Nearly all known specimens show heavy circulation. Mint State examples are virtually nonexistent, with 1-2 pieces qualifying. A landmark rarity of the territorial gold series.