Territorial Gold: Coins of the Wild West

Private Gold From the Frontier

When gold was discovered in remote regions far from the Philadelphia Mint, miners and merchants took matters into their own hands. Territorial gold — also called private gold or pioneer gold — was struck by private minters to fill the need for coined money in the frontier economy.

The California Gold Rush (1848+) produced the most famous private minters: Moffat & Co., the Kellogg firm, and the short-lived San Francisco Assay Office. In Georgia, the Templeton Reid and Bechtler family struck gold coins from Appalachian deposits — the Bechtler dollars actually circulated widely and were trusted for their consistent gold content.

Colorado's Clark, Gruber & Co. and Oregon's Oregon Exchange Company ("Beaver" coins) served their respective territories. Even the Mormon coinage of Brigham Young's Deseret represents a fascinating chapter of private American money.

Discussion

• Do you collect territorial gold, or is it on your wish list?
• Which private mint's story do you find most compelling?
• Bechtler gold vs. California private gold — which is more historically significant?
• How do you authenticate territorial gold given the wide variation in striking quality?