Market Analysis: Gold coins break million-dollar mark

Around 20 to 25 1850 Baldwin & Co. gold $10 pieces with the famed “Vaquero” design exist, and this one, graded MS-63+ by PCGS and with a green CAC sticker, is among the finest. It sold for $1,260,000 at Stack’s Bowers Galleries’ Rarities Night session.

Images courtesy of Stack's Bowers

Stack’s Bowers Galleries’ Nov. 19 Rarities Night sale offered three gold lots that crossed the $1 million mark, led by an 1870-CC Coronet gold double eagle graded About Uncirculated 55 by Professional Coin Grading Service that brought $1,440,000.

At $1,260,000, a privately issued 1850 Baldwin & Co. territorial gold $10 coin graded Mint State 63+ by PCGS with a green Certified Acceptance Corp. sticker impressed bidders. It features the design known as the “Vaquero” or “Buckaroo” Spanish cowboy motif and each feature was boldly impressed, thanks to a sharp strike. It is among the finest-graded examples of this issue, struck with California gold by the private San Francisco coiner Frederick D. Kohler. He bucked convention by not copying contemporary circulating coin designs, but instead, hiring local engraver Albrecht Kuner to create new designs. Kohler sold his firm to George C. Baldwin and Thomas Holman on March 15, 1850, and the firm was dissolved just over a year later.

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