1861 Clark, Gruber & Co. $20. K-8. Rarity-5+. EF Details--Repaired (PCGS). Here is a significant offering for this rare and seldom encountered large size gold coin from private issuers Clark, Gruber & Co. This example offers considerable boldness of detail throughout the design. The central reverse is soft, and other high points are somewhat blunt due to a combination of striking deficiency, wear, and the effects of the repair noted by PCGS. Other elements of that qualifier include a curiously glossy texture and wispy hairlines on both sides. The vivid deep orange-gold color is quite pleasing, nonetheless, and there are no sizable marks or other blemishes to report.<p>These pieces are 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 TWENTY 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 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. Coinage continued only through 1861, although this historic private coining facility laid the foundation for the later Denver Mint.<p>The 1861 Clark, Gruber & Co. $20 is the more collectible of the firms two issues of this denomination, although only marginally so. In fact, the vast majority of our offerings of 1861 pieces in recent years have been for copper die trials, some of which have been gilt, and which are often selected to represent this issue in specialized collections. For the advanced numismatist, however, only a regular issue gold striking will do, and this more affordable offering is not to be missed.<p>
