California Gold Rush Assayers

Moffat & Co. was perhaps the most prolific of all private assay and coin minting firms.

The founder and namesake of this early California gold assay firm was John Little Moffat, who came from New York in the first half of 1849 to San Francisco to set up an assay and private mint. Moffat's partners in the firm included Joseph R. Curtis, Philo H. Perry and Samuel H. Ward. They ultimately set up an office at the corner of Clay and Dupont St. In the first few months of production they made ingots of varying size and value. The most popular was their $16 ingot, weighing one ounce. Later in 1849 the firm had coinage dies engraved by Bavarian goldsmith named Kuner. Ultimately the firm produced $5, $10 and $20 coins which circulated at full face value because of the firms outstanding reputation for producing coins of full weight and fineness. At the time there were a few other firms that would assay gold dust into coins, but those assayers did not have the same reputation for quality and accurate gold content in their coins as did Moffat & Company. John Moffat left the firm in 1851, but the firms remaining members retained the name of Moffat & Co.

Today, coins and ingots made by Moffat & Co. are highly prize by collectors for their historical value. Because the firm was so prolific, and because the coins circulated at par with Federal coinage, there are a relatively significant number of survivors.

The limited supply of coins in the Northern California gold regions during 1848 to 1850 burdened the economy, since so many transactions needed to be made with gold dust. California merchants urged Congress to establish a United States branch mint in San Francisco, but because that seemed unlikely for a few years, a compromise was reached. The Secretary of the Treasury contracted with Moffat & Company to create an Assay office to produce coins under the supervision of Augustus Humbert, who was appointed United States Assayer of Gold.

The Assay office was authorized by the U.S. Congress in late 1850 to assay gold dust, and coin the dust into ingots or coins of a standard fineness and weight. This authority to create legal tender coins outside of an official U.S. mint is unique in U.S. history, and the coins that came out of this Assay Office of Gold are among the most desirable of all California gold coins.

Augustus Humbert oversaw the United States Assay Office in its earliest days of production, starting in early February 1851.

1851_$50_LE_slug_obv_600dpi_web.gif (1015789 bytes)

1851_$50_LE_slug_rev_375dpi_web.gif (129021 bytes)

In 1851 the need for coins was so great in San Francisco and surrounding gold camps, that the first denomination produced by the U.S. Government sanctioned Assay Offices was $50. These 2 1/2 ounce ingots were quickly absorbed into the booming gold rush economy. Click here to learn about these fascinating $50 Slugs.

By September of 1851 the mass production of $50 slugs by Humbert's Assay Office significantly elevated the shortage of coins suitable for paying the large volume of customs taxes due when boats full of supplies arrived in San Francisco. The $50 slugs were also reportedly popular in gambling halls of the era. But there was still a severe shortage of coins in the $5, $10 and $20 denominations. These denominations were important for daily commerce, and gold dust was still widely used for transactions. The United States Assay office petitioned for the authority to strike the smaller denomination coins, and by 1852 production started on $10's and $20's.

USAOG $20 obv 1200dpi web.gif (171693 bytes)

USAOG $20 rev 1200dpi web.gif (171324 bytes)

This $20 coin was produced by the United States Assay Office of Gold in 1853. It's fineness is .900 pure, as indicated on the ribbon between the eagles wings. Large numbers of these coins were produced the year before the San Francisco mint opened, under a semi official status. These coins were not readily melted due to their accurate gold content, and a relatively significant number of survivors exist today for collectors to own and study.

In 1852 the United States Assay Office of Gold (USAOG) operated under a bill which allowed California to issue ingots and coins to support the booming economy until a branch mint could be established. The operations at the USAOG were functioning as a predecessor to the establishment of a branch mint, supplying the rapidly growing economy with a much needed medium of exchange. The USAOG minted enormous quantities of coins in the $10, $20 and $50 denominations.

Kellogg & Company was named after the firm's principal Assayer, John Glover Kellogg. He had previously worked at Moffat & Co., and the United States Assay Office of Gold (USAOG). Kellogg & Co. delivered their first coins in February 1854, relatively late in the period of California private gold coinage. They came into operation between the time the United States Assay Office of Gold discontinued its services in December of 1853 and April of 1854, and when the U.S. branch mint in San Francisco officially opened. In theory, the establishment of a U.S. mint should have ended the need for privately minted gold coins. The reality was that in those first few years of operation, the mint's output was erratic and insufficient to meet the needs of the booming gold economy. Kellogg & Company's coins filled the needs of the bankers and merchants until 1855, along with those of Wass, Molitor & Co. After the U.S. branch mint in San Francisco started to hit their production stride, Kellogg & Humbert was formed to assay bars.

There were several other large scale assayers and coiners in the California Gold Rush. I will add some pictures and information about these firms soon!

I do not own most of the coins pictured on this website. My modest collection is kept in a bank safe deposit box. I do enjoy examining and studying these fascinating coins. If you have quality scans of California gold coins, I would love to see them for possible inclusion on my web site with or without a photo credit. Please e-mail to goofyft@aol.com.