1861 Clark, Gruber & Co. $5. K-6. Rarity-4. AU-58 (NGC).Pretty rose-apricot peripheral highlights enliven both sides of this otherwise warmly patinated honey-olive example. The strike is well balanced and uncommonly sharp for the type, the detail to the eagles plumage particularly impressive. A thin, shallow graze in the upper left obverse field is noted for accuracy, but the in hand appearance is pleasingly smooth.Styled after the federal gold issues of the era, though Libertys tiara proudly proclaims PIKES PEAK to signify the origin in Colorado Territory. A federal-style eagle with the legend CLARK GRUBER & CO DENVER and denomination FIVE D. comprises the reverse design. First struck in 1860, the issues of Clark, Gruber & Co. were coined from native Colorado gold and at a gold value 1% above that of federal coins of the same denomination; heeding the happenings of a decade earlier in California, the firm insisted on maintaining the small overage so that no one person or firm could ever accuse them of underhanded dealings or falsehoods, though no doubt accusations flew anyway. The principals of the firm were Austin M. Clark, his brother Milton Edward Clark, who served as the firms attorney, and Emanuel H. Gruber. Brother Milton Clark traveled to Philadelphia in 1859 to procure dies and coining presses, later traveling to New York City for various other minting equipment. Early in January, 1860 the firm purchased property in Denver upon which to establish their Assay and Coinage Office, and by July of that same year their first coins rolled off the presses to great fanfare in the local press. The present coin is a tangible link to Americas third major gold find and will see spirited bidding by those who seek to expand the boundaries of territorial gold within their cabinet.From The Dr. Andrew Mitchell Collection.
