Stanley Gibbons Baldwin’s is thrilled to present the Ancient, British and World Coin Auction at 399 Strand on Wednesday 9 July. Among several highlights of the sale is the exquisite 1860 American gold 2 ½ Dollar from the Charlotte Mint. Charlotte Mint gold coins are some of the most desired items in numismatics today, ranging from scarce to extremely rare. Of the Charlotte Liberty Head quarter eagles such as this, it is a scarcer date type coin. Featuring the Liberty Head and in PCGS holder graded AU 58 (54863463), the coin shows beautiful red toning and lustre across surfaces. One of only 7,469 pieces struck, this is an extremely uncommon item, with just four recorded finer in PCGS census. The item is estimated at £5,000 – 7,000.
The first United States branch mint, the Charlotte Mint was located in Charlotte, North Carolina, and specialized in gold coinage. The importance of its establishment in history is well documented and was a significant development of the United States coinage system. Following the first discovery of gold in the country, the first gold mine in the US was established in North Carolina. However, as there were no mints in or around Charlotte, gold dust had to be sent to Philadelphia to be melted and coined – a difficult, slow, expensive, and dangerous transportation process. Making gold into local money had further inherent problems, around accurate weighing and determining fineness.
In the spring of 1831, merchants and miners from around North Carolina petitioned Congress for a branch mint in the region, to reduce the risk of transporting gold. It took over three years to get a response, when the United States Treasury at last began to investigate private coining operations. Finally, on 3rd March 1835, the Congress approved an Act 115 to 60 to establish several branch mints, including one at the town of Charlotte, in Mecklenburg County, in the state of North Carolina, for the coinage of gold only. This Act also authorized mints at Dahlonega, Georgia, and New Orleans, Louisiana. The Charlotte Mint opened for business on 27th July 1837. Only raw gold was processed and refined until March 28, 1838, when the first $5 gold half eagle was struck. Later that year, $2½ quarter eagles were minted, and in 1849 production started on a small gold dollar. All gold coinage coming from this mint is distinguished with a "C" mint mark.
The Charlotte Mint has held an important part in history. Seized by the Confederacy during the Civil War (alongside those at New Orleans and Dahlonega) it was eventually converted into a hospital and military office space. Towards the start of the Reconstruction Era, it was used as offices for the federal troops, and then downgraded to an assay office as which it remained until 1913. From 1917 to 1919, the Charlotte Women's Club met in the building; and it also served as a Red Cross station during World War I. When in 1931 the building was to be demolished, a private coalition acquired the structure from the U.S. Treasury. They relocated it a few miles east of downtown Charlotte, to the historic neighbourhood of Eastover, where in 1936 it was dedicated as the Mint Museum of Art, the first art museum in North Carolina. Still highly prestigious to this day, the Mint Museum displays a wealth of art and precious pieces, and boasts a reference library of over 15,000 volumes, a theatre for lectures and performances, and of course a complete collection of gold coins minted at the Charlotte Mint.
For more information, please visit www.sgbaldwins.com