Q. David Bowers
Commemoratings: New discoveries of gold in California; the California Gold Rush
Obverse motif: Head of Miss Liberty
Reverse motif: Eagle
Authorization date: 1848
Date on coins: 1848
Date when coins were actually minted: 1848; counterstamped in late December 1848 and/or early January 1849
Mint used: Philadelphia
Maximum quantity authorized: 1,389 (limited by bullion on hand for the purpose)
Total quantity minted (including assay coins): 1,389
Assay coins (included in above): Unknown
Quantity melted: None
Net number distributed (including assay coins): 1,389
Issued by: Philadelphia Mint, Philadelphia, Pennsylvania
Standard original packaging: Apparently, none
Official sale price: $2.50
Designer of obverse and reverse: Christian Gobrecht
Interesting fact: This is the first official United States commemorative coin.
(average as well as specific market prices) (Representative selection of specific historical auction prices courtesy of P. Scott Rubin and Charles Davis. Whatwas called "Proof' years ago is equivalent to prooflike Uncirculated or just Uncirculated today; grading was far more erratic and liberal in the 19th century. )
1865 "Proof," Woodward's 11th Sale, Lot 2812, $4.25
1870 "Proof," Longacre Sale, 3 specimens, Lots 170-172, @ $5.50
1880 "Proof," Woodward's 27th Sale, Lot 1035, $7.50
1884 "Proof," Anthon Part V Sale, Lot 673, $3.25
1890 Uncirculated, Cleneay Sale, Lot 769, $6.25
1909 Prooflike Uncirculated, Zabriskie Sale, Lot 331, $85
1911 AU, Woodin Sale, Lot 974, $54
1931 Fine, Mehl's 83rd Sale, Lot 887, $42
1933 VF Elder's May 13th Sale, Lot 757, $24; another, Morgenthau's 311th Sale, Lot 286, $41; another, Elder's December 8th Sale, Lot 996, $75
1936 VF, Mehl's 89th Sale, Lot 275, $115
1938 Prooflike Uncirculated, Mehl's 91st Sale, Lot 205, $148.50
1939 VF, Mehl's 94th Sale, Lot 773, $45
1940 AU, Morgenthau's 418th Sale, Lot 214, $71; VF, Standard Catalogue, $100; John Zug advertisement, VF $75
1941 VF, Numismatic Gallery's 8th Sale, Lot 578, $52.50
1941 ANA Convention Sale, Lot 663, $92.50
1942 Uncirculated, Morgenthau's 444th Sale, Lot 96, $75
1944 Prooflike Uncirculated, Bell Sale, Lot 115, $250
1944 EF, Roach Sale, Lot 883, $92.50
1946 VF, World's Greatest Collection Sale, Lot 116, $150
1947 edition Guide Book, ©1946: Fine $100, Unc. $200
1950 Guide Book VF $150; Unc. $250
1954 Prooflike Uncirculated, Davis-Graves Sale, Lot 699, $ 300
1955 Guide Book VF $550, Unc. $750
1960 Guide Book VF $550; Unc. $750
1962 VF, Wolfson Sale, Lot 142, $1,600
1963 Uncirculated, Gaylord Sale, Lot 131, $2,550
1965 Guide Book VF $2,750; Unc. $6,000
1970 Guide Book VF $3,200, EF $4,250, Unc. $5,500
1975 Guide Book VF $4,000, EF $7,500, Unc. $11,500
1980 Guide Book VF-20 $7,000, EF-40 $12,500, MS-60 $30,000
1985 Guide Book VF-20 $4,500, EF-40 $7,000, AU-50 $12,500, MS-60 $30,000
1986 Guide Book VF-20 $4,500, EF-40 $7,000, AU-50 $12,500, MS-60 $30,000
1990 (spring) Guide Book VF-20 $4,500, EF-40 $7,000, AU-50 $12,500, MS-60 $30,000
1990 (December) Guide Book VF-20 $4,500, EF-40 $7,000, AU-50 $12,500, MS-60 $30,000 (For Guide Book prices. the edition used was dated one year later. For example, for 1970 prices the 1971-dated version was used, as the data in this book were compiled in 1970. The spring 1990 figures are from the 1991 edition as are the December 1990 figures, for the market movement of 1990 did not materially affect this issue. As may be seen, there was a price adjustment in the EF and AU range between 1980 and 1985 (this actually took place in the 1982 edition when the AU-50 category was added for the first time. and the $12,500 assigned to the EF-40 grade in the earlier edition was transferred to the AU-50 category, and the price of EF-40 was lowered (there may be another explanation, but this seems to be correct). In 1982 the F-12 category (not reported in the present study) was dropped. 1981 edition prices are as follows: F-12 $4,500, VF-20 $7,000, EF-40 $12,500, AU-50 (not listed ill this edition), MS-60 $30,000. 1982 edition prices are: F-12 (no longer listed), VF-20 $4,500 (the price formerly assigned to F-12), EF-40 $7,000 (the price formerly assigned to VF-20), AU-50 $12,500 (the price formerly assigned to EF- 40), and MS-60 $30,000 (unchanged).)