1854 Kellogg & Co. $20. K-1b. Rarity-5. Short Arrows. AU-50 (PCGS). OGH.A beautiful and technically choice example of this prized Territorial issue. The vibrant yellow-gold patina is accented by faint honey shades near the border. The devices are impressively sharp and surrounded by intense satiny luster. Faint traces of residue are visible on the obverse under magnification, though this goes unnoticed to the naked eye. Now heavily lapped, the dies are in a late state attributable to Kagin-1b. The obverse stars are thinner and show recutting on their inside points. On the reverse, several letters in the legend are now broken including the bases of the Ts, the F in FRANCISCO, and A1 and A3. A single bagmark on Libertys cheek near her curl will serve as a convenient pedigree marker to trace this piece through future cabinets. Otherwise smooth, this piece is undoubtedly superior for the assigned grade. Delivering some 300,000 twenty-dollar gold pieces from February 9, 1854 through 1855, the firm of Kellogg & Co. helped bridge the gap when Californians were awaiting the official opening of the San Francisco Mint. As such, it ranks with Moffat & Co. and the United States Assay Office of Gold as one of the most important private minting establishments of the California Gold Rush.From the Dr. Andrew Mitchell Collection.
