Q.David Bowers
States Mint, and hence they have a lighter yellow color. After the bars had been made of a requisite fineness they are resmelted and cast into smaller bars. These are hammered out, then drawn through slits in a powerful machine-the width of the slit being diminished. By this means it is made to assume the shape of a golden hoop. It is then drawn through a powerful rolling machine graduated to the required thickness, from which it issues a long, thin strip, brightly polished, and of the thickness of the coin. It is then placed under another ingenious machine in which it is cut up into circular pieces the size of the proposed coin. These pieces are generally adjusted to the standard weight on very nice scales prepared for the purpose. If they weigh a little too much, as they always do, they are reduced by filing. They are now ready to be stamped.
The first stage in this process consists in placing them in a milling machine of great power. From this they receive a neat, raised milled edge. Nothing remains now but to place them in the press, where they are stamped. This press operates on the principle of the screw. The circular piece of gold-the embryo coin-is placed upon a die which is to give its impress to one side, while another die, which stamps the other side, is made to descend with great force by whirling the heavily loaded arms of a lever passing through the screw. It is a current Five or Ten Dollar piece, as the case may be. The finishing touch is put to it by roasting it, so as to give it a bright color. All these different processes of course require great scientific and mechanical skill, extreme accuracy, and heavy and complete machinery. All of these requisites Messrs. Wass, Molitor & Co. possess.
In 1852 pieces of the $5 and $10 denomination were made. No pieces were struck, so far as is known, bearing the dates 1853 or 1854. In 1855 denominations of $10, $20, and $50 were made. The $50 pieces were round and were the only pieces of that shape and denomination to circulate. Of attractive appearance, the coins found ready acceptance in the marketplace. Large numbers were coined. The Sacramento Daily Union on April 30, 1855, noted:
Col. Pardee of Wells, Fargo & Co.' s Express has exhibited to us the new Fifty Dollar piece, which in a great measure is destined to supplant the old fashioned octagon slug now in circulation. This coin is circular, almost entirely destitute of ornament, and plain as a maiden's countenance who has breathed the air of fifty summers. At the outer edge of one side are the words "Wass, Molitor & Co. San Francisco," inclosing on the centre of coin the figures "900" and abbreviated word "Thous." with the figures "50" underneath and the word "Dollars" below the latter figures. On the reverse of the coin is a homely head of Liberty and the figures "1855." The coin certainly has no pretentions to beauty; nevertheless we would not like to refuse a few to break with our friends.
The Alta California reported on May 16, 1855 that:
Wass, Molitor & Co. have commenced issuing their Fifty and Twenty Dollar pieces at the rate of $38,000 per day.
The coin is above the United States standard, and is confidently received throughout the State.
Wass, Molitor & Co. were prolific issuers of gold in-gots for bankers and merchants. An ingot bearing the name of Adams & Co., dated 1851, having the stamped value of $54.33, is in the Smithsonian Institution, while another issued for Wells, Fargo & Co., Bankers, dated 1854, with a marked value of $323, is held in a private collection. Both pieces bear the initials of W. M. & Co. as the manufacturing assayer.
Kellogg & Co.
A late entry in the field of private coinage was Kellogg & Co. of San Francisco, which produced its first coins in 1854.
John Glover Kellogg, of Auburn, New York, came to San Francisco on October 12, 1849. He secured a position with Moffat & Co. and remained with them during the operations of the United States Assay Office of Gold. When the latter institution discontinued business on December 14, 1853, Kellogg formed a new partnership with G. F. Richter, who earlier had worked with the United States Assay Office as an assayer. On December 19, 1853, the San Francisco Herald carried this advertisement:
ASSAY OFFICE. The undersigned, who have been connected with the United States Assay Office from its commencement, have opened an office for melting and assaying gold in the basement of J. P. Haven's Building, No. 106 Montgomery St., one door of Lucas, Turner & Co.' s banking house and nearly opposite Adams & Co. Kellogg & Richter.
Appended to the advertisement was an endorsement by Augustus Humbert: Messrs. Kellogg & Richter have been employed (the former as cashier and the latter as practical assayer) in the United States Assay Office from its commencement to its close. We take pleasure in bearing testimony to their industry, integrity, and skill, and in commending them to the confidence and patronage of the public. Curtis & Perry, A. Humbert, Late U. S. Assayer.
On January 14, 1854, a number of leading banking houses of San Francisco and Sacramento addressed a petition to Kellogg & Richter imploring them to produce coins, in the period after which the United States Assay Office of Gold had ceased operations and before the United States Mint at San Francisco had begun. The merchants indicated their willingness to receive any coins that would be produced. Kellogg & Richter replied on January 31, 1854:
Your letter under date of Jan. 14th, requesting us to issue our own private coin, is at hand. We shall be able to comply with your request ten days from this date. With many thanks from your expressions of confidence in our abilities as Assayers, and in our integrity, we remain,
Yours truly, Kellogg & Co.
On February 9, 1854, the first Kellogg coin was issued, as evidenced by a notice which appeared in the February 15, 1854 issue of Alta California:
Messrs. Kellogg & Richter have established a private coining house on Montgomery St., in the basement of the building adjoining Adams & Co.'s old banking house. They issued their first coin on the 9th. It is like United States coin, except that in place of LIBERTY are the words KELLOGG & CO. They expect to be able to issue $20,000 per day.
An observation concerning this situation was made on February 15, 1854 by San Francisco Prices Current:
We have to notice that the alterations of the old Assay Office of Curtis, Perry & Ward are progressing well, the additions and changes being by virtue of contract for the erection of the United States Mint Buildings and the supplying of suitable machinery. To supply any deficiency or vacuum which may arise before the Mint can commence operations, or indeed afterward, we have to notice that Messrs. Kellogg & Richter, Assayers, have commenced the issue of private coin, the first pieces of this stamp, "Kellogg & Co;" having made their appearance this week, and of the denomination $20. They are similar in their general style to the United States coins, but easily distinguishable by their yellow appearance, which is the natural color of California gold, while the peculiar appearance of the regular Double Eagle [a reference to the United States Mint issue] is the result of copper alloy.