1860 Clark, Gruber & Co. Two-and-a-Half Dollar

Coin Details

Auction Record

$69,000 MS65 11-07-2006 Stack's

Description

The 1860 Clark, Gruber & Company Quarter Eagle is the smallest denomination produced by Denver's most important private mint during the Pikes Peak Gold Rush. Austin M. Clark, Milton E. Clark, and Emanuel Henry Gruber established their banking, exchange, and coining operation in Denver City, Kansas Territory (present-day Colorado), to serve the thousands of miners flooding into the Rocky Mountain region. The $2.50 piece features an obverse design showing the Pikes Peak mountain with "PIKES PEAK GOLD" proclaiming the origin of the metal. The reverse displays an eagle with shield, adapted from federal coinage designs, with "CLARK & CO." and the denomination. This distinctly Western imagery sets Clark Gruber coins apart from other territorial gold issues. Clark, Gruber & Company coins were generally well-regarded for their gold content, which contemporary assays showed to be slightly above the stated face value. This honesty helped establish them as a trusted medium of exchange and contributed to the firm's reputation that eventually led the federal government to purchase their mint facility in 1862.

Rarity Notes

Rare. Estimated 25-40 surviving examples. Auction prices typically range from $15,000 to $50,000.

Cross References

Kagin K-1; NGC #31180