An extremely rare $50 territorial gold coin, issued by the Wass, Molitor & Co. firm during the California Gold Rush, was recently rediscovered in Sydney, Australia and is being sold by the Irvine, California firm GreatCollections.
The coin was originally purchased by an affluent family from Sydney while vacationing in New Mexico during the early 1970s. It has been in their family ever since and was consigned to GreatCollections in raw form. GreatCollections arranged for the coin to be professionally graded by the Professional Coin Grading Service (PCGS), and they assigned the grade as EF-40.
“Being from Sydney myself, I am excited to be able to auction this rarity through my firm. While rarities like this don’t turn up overseas very often, it does happen. This particular example is well-struck and exhibits some moderate, rich orange toning around devices and lettering, owing to its original nature” said Ian Russell, the owner and founder of GreatCollections Coin Auctions.
Issued in 1855, only about 100 coins still exist today. It is a one-year type coin and the largest produced by the Wass, Molitor & Co. assay firm. $50 gold pieces, which weigh almost 2.5 ounces, are commonly referred to as “slugs” due to their impressive weight.
The coin is expected to sell for more than $50,000 when it is auctioned on Sunday, April 8th. For more information about this coin, click here, visit the website of GreatCollections, or telephone 1-800-442-6467.
GreatCollections is an auction and direct sale venue for PCGS certified coins, as well as coins approved by CAC, with sales exceeding $30 million over the past 12 months. GreatCollections handles each coin transaction from start to finish. For sellers, GreatCollections offers professional imaging for each coin, cash advances as appropriate, and other individualized services.
Press release courtesy of the Professional Coin Grading Service.