1861 Parsons Five Dollar

Coin Details

Auction Record

$100,000 VF20 11-01-1979 Bowers & Ruddy

Description

The 1861 John Parsons & Company Gold Half Eagle is the primary denomination of the Parsons coinage, representing the most practical denomination for everyday transactions in the South Park mining district. The five-dollar gold piece was the workhorse denomination of frontier commerce. The Parsons half eagle features the firm's proprietary design with "PARSONS" identification and denomination markings. Contemporary accounts suggest Parsons coins were generally accepted in the mining camps, though they traded at a slight discount to Clark Gruber coins, which had a stronger commercial reputation. John Parsons & Company's coining activities were shorter-lived and less well-documented than those of Clark Gruber. The relative scarcity of Parsons coins today reflects both the smaller production volumes and the heavier circulation these pieces experienced in the remote mountain mining communities.

Rarity Notes

Very rare. Parsons half eagles are estimated at 15-25 surviving examples. Auction prices range from $15,000 to $50,000.