Coin Specifications

Category: Territorials
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(1849) INGOT MOFFAT & CO. $16.00 MS obverse (1849) INGOT MOFFAT & CO. $16.00 MS reverse
Images courtesy of Heritage Auctions (HA.com)
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Description & Analysis

K-3, High R.6. Among the earliest and most successful private gold assayers and smelters during the California Gold Rush was Moffat & Company, headed by John Little Moffat of New York State. Moffat had previously worked in the gold fields of North Carolina and Georgia, and he came to California well-prepared to serve the miners who needed to have their gold dust weighed, evaluated, and converted into bars or ingots.

Departing from New York by ship in February 1849, Moffat brought with him three assistants, later partners in his company; along with the tools and machinery needed in order to carry out his smelting and assaying activities.

Arriving in California in June, 1849, Moffat and his three associates wasted no time in getting their new enterprise operational. They placed advertisements in two California newspapers on June 21, announcing their new smelting and assaying operation. These advertisements included endorsements from several prominent firms and individuals, including no less a personage than the Secretary of the United States Treasury, R.J. Walker.

The small rectangular gold ingots that Moffat & Company produced, including the present piece, must have been made shortly after the opening of their business. By late August, the company was engaged in the minting of gold coins, after procuring the services of George Albrecht Ferdinand Kuner, recently arrived from New York, as their chief engraver. Apparently produced in denominations ranging from $9.43 to $264, few of the ingots still exist. Probably only 15 to 20 of the $16.00 ingots survive.

Description and Analysis courtesy of Heritage Auctions (HA.com) and may not be republished without written permission.

GRADE SUMMARY

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Price Guide

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NGC Price and Value Guides Disclaimer

Disclaimer: The prices listed in the various NGC Price and Value Guides are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. Prices provided are averages, not specific prices for individual coins. Further, because these prices are only updated from time to time, they do not reflect short term pricing trends, which are quite common and are often quite dramatic, given the volatile nature of the collectible coin marketplace. This is especially true for rare coins, where there are fewer sales and greater variations in sale prices. For all of these reasons, the prices in these guides are designed to serve merely as one of many measures and factors that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and — when appropriate — expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Guides. By using the NGC Guides, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the Guides.

Census

 
NGC GRADE SUMMARY

Total Graded: 1
Low Grade: 58
Average Grade: 58
High Grade: 58

The chart showing 58 series.
NGC CENSUS DETAIL Last Updated: 8/4/2020 (1849) INGOT $16.00 MOFFAT & CO. MS
 PrAgGVGFVF4045505355586061626364656667686970Total
Base----------1-----------1
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Total----------1-----------1
 ----------100%----------- 

NGC Registry

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NGC Auction Central Disclaimer

NGC Auction Central Disclaimer

Disclaimer: The auction prices realized listed in the NGC Auction Central are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. The auction data listed by NGC may occasionally contain typographical or input errors that can result in incorrect prices realized appearing on the NGC website. Therefore, the prices realized listed in NGC Auction Central are designed to serve merely as one of many measures and facts that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and – when appropriate – expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Auction Central. By using the NGC Auction Central, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the NGC Auction Central.