1854 San Francisco $10 Gold Eagle

The 1854 ten dollar gold coin struck at the San Francisco mint is a coin of great historical importance, and is a piece of history you can hold in you hands.

As early as 1849 it became apparent that there needed to be a United States mint in Northern California. The steady influx of people and gold was creating a wild economic scene. Goods and food were scarce, and frequently transactions were made with raw gold. Several businesses were created to produce privately minted gold coinage, and these firms would assay gold and produce coins for a fee. But only the United States Mint could produce coins that were legally tender and universally accepted by all merchants. It was not until July of 1852 that the law was passed allowing establishment of a branch mint in San Francisco. Finally, in April of 1854 the mint officially opened.

This is a close up scan of the "S" mintmark which indicates the coin was made in the San Francisco Mint. Some people focus their collecting efforts on a particular mint or era. Another popular Branch Mints included Carson City, Nevada which produced millions of silver dollars in the 1880's to 90's with the famous "CC" mintmark..

Today there are a significant number of well worn surviving coins which attest to their heavy use in the Gold Rush economy. A collector can purchase such a coin for a few hundred dollars at a major coin show. However, the same coin is very rare in uncirculated condition, and at auction such a piece would probably sell for many thousands of dollars.

Five different denominations were struck in gold at the San Francisco mint in 1854, however the vast majority of coins were $10 and $20 pieces. The new mint used 6 different pairs of dies to strike the 123,826 gold eagles it produced that year. While the coins were much needed in the booming California economy, they were not nearly enough, and private assay firms like Kellogg & Co. and Wass, Molitor & Co. continued production for a few additional years.

The specimen on this page was purchased certified by NGC as grading VF20. The coin was cracked out of its holder and is a well worn coin which was clearly used in it's day. Coins in high levels of preservation can have their values seriously impacted by the slightest damage or wear. However, well worn coins such as this one are safe to handle and enjoy without significant risk to their value. As such, the collector is free to examine the reeded edges, feel the weight of the gold in their hands, and dream of gold miners and boom towns of California history.

Disclaimer: I do not own many of the coins pictured on this website. My modest collection is kept in a bank safe deposit box at all times. I do enjoy examining and studying these fascinating coins and artifacts. If you have quality scans of California gold rush coins, artifacts, or assay receipts, 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.