1854 Kellogg & Co. $20. K-1. Rarity-5. Short Arrows. AU-55 (NGC).An attractive and nicely-composed example of this private Kellogg "double eagle." Rich honey-gold luster gleams from around the devices, accenting the otherwise pale yellow surfaces. A few old, shallow marks are noted in the lower obverse fields and the upper reverse field, but the design elements remain bold and untroubled. Truly superior quality for the issue.<p>Kellogg & Co. produced some 300,000 $20 gold pieces in 1854 and 1855, the firms coining activities filling a critical void in the commerce of Gold Rush California since it came between the dissolution of the United States Assay Office of Gold in 1853 and the delivery of the first double eagles from the San Francisco Mint. Even though the federal Mint placed its first double eagles into circulation in 1854, and operations continued apace through 1855 and beyond, the Kellogg & Co. pieces of both years were eagerly sought by local businesses. On the other hand, once San Francisco Mint gold coinage became firmly established in commercial channels, many of their privately produced predecessors were melted for their bullion content. Survivors of the 1855 Kellogg & Co. $20 issue are certainly scarce in an absolute sense.PCGS# 10222. NGC ID: ANHY.
