1853 Moffat & Co. Gold Double Eagle

Coin Details

Auction Record

$90,000 MS62 08-18-2019 Heritage Auctions

Description

The 1853 Moffat & Co. twenty-dollar gold piece is the final issue bearing the Moffat name and the only double eagle denomination the firm produced. By 1853, the Moffat operation was effectively functioning as an arm of the U.S. Assay Office, and this twenty-dollar coin represents the culmination of four years of private and semi-official gold coinage in San Francisco. Within months of its production, the San Francisco Mint would begin operations, rendering private coinage unnecessary. The obverse features the Liberty Head design that had become Moffat’s signature, though executed with greater refinement than the hurried dies of 1849. The reverse displays the heraldic eagle with MOFFAT & CO. prominently inscribed, along with the denomination TWENTY DOL. And the S.M.V. CALIFORNIA GOLD assurance of fineness. At approximately one ounce of gold, the double eagle was the largest standard denomination Moffat produced in round coin form. The twenty-dollar denomination had only been authorized for federal coinage in 1849, making Moffat’s adoption of it a reflection of how rapidly California’s private minters tracked developments in federal monetary policy. The coin’s substantial gold content made it particularly useful for large transactions in real estate, mining claims, and wholesale merchandise.

Rarity Notes

Very rare. As the only year of the Moffat double eagle and the terminal issue of the series, this coin is highly sought by territorial gold specialists. Surviving examples are scarce in all grades, with approximately 40-60 known.

Cross References

K-8 (Kagin); PCGS #10255; NGC #31114; Moffat & Co., San Francisco; only Moffat 0 denomination