1860 Clark, Gruber & Co. $10. K-3. Rarity-5. MS-60 (NGC).Here is an impressive survivor of this iconic territorial gold that offers tremendous mint luster across each side. The fields are satiny and lightly reflective, offering a contrast with the more frosty devices. The yellow-gold surfaces are very smooth and remain well composed beneath a glass. The central elements are uniformly sharp.<p>In the late 1850s gold was discovered in the Territory of Jefferson, which included parts of modern-day Colorado. Many prospectors from the East Coast undertook the dangerous journey westward, passing through Leavenworth, Kansas where Austin and Milton Clark and merchant Emmanuel Gruber had set up a provisioning business. In 1860, the partners reached Denver and quickly set up the office of Clark, Gruber & Company, which was ready in July that same year to begin producing their own coinage. The gold used to make Clark, Gruber & Co.s $2.50, $5, and $10 gold pieces did not meet federal purity standards, so in order to compensate the firm deliberately made them overweight, to the point that the coins intrinsic value exceeded its stated face value by about 1%. The coins were eagerly accepted and soon Clark, Gruber & Co. became by far the largest and most important of the Colorado private coiners. While the two smaller denominations resembled their federal counterparts, the obverses of both the $10 and $20 bore a distinctive if completely fanciful representation of Pikes Peak. The $10 pieces were the first coins to be produced at the new private mint, an occasion that was recorded by the <em>Rocky Mountain News</em> on July 25, 1860. The issues proved successful and by October of 1860 some $120,000 worth had been struck. The currently offered coin is an excellent example of this perennial favorite.<p>PCGS# 10137. NGC ID: ANK3.NGC Census: 6; 14 finer.
