1850 P $5 gold found

Tom_in_CA

Gold Member
Mar 23, 2007
13,804
10,336
Salinas, CA
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2
Detector(s) used
Explorer II, Compass 77b, Tesoro shadow X2
1850 Moffat private mint $5 gold found.

I know I can't get banner for this, since it's not my personal find.

Today a few buddies and I went and tried a worked out hammered "back-pocket" site of mine Central coast of CA. This spot had been a traveler stopping spot, where perhaps an adobe habitations of some sort existed in the Mexican period of CA (1840s). 10 or 12 Years ago when I first researched out this site, I had found some early seateds, a few reales, a few cache coins, some gilt buttons, an indian "tinkler", and Republic of Mexico buttons. And the other usual age indicators: pistol balls, lantern parts, gun parts, rivots, rimfires, etc... The site never particularly had many targets to begin with. And it eventually got the point where I would work for an hour just to get any more conductive targets of *any* sort from there. So I rarely ever go there anymore.

Today though, two buddies and I had a few hours to kill between hunt destinations. So for lack of anything better to do, we decided we'd go knock ourselves silly and see if any more targets could be eaked out of this place. My guest Jim Searcy from Fresno, started working a periphery zone (fairly far outside the habitation/iron zone). His first conductive target/signals was a crisp clear "40" signal on his MXT (with eliptical coil). Down about 3 to 4", he pulls up this nice 1850 P $5 gold. His first gold coin. Here it is, fresh out of the ground, a few hours ago. I'm trying to convince him to clean it with sandpaper, but .... for some reason .... he's not listening to me! haha

We worked for another hour or so, and the only other age indicators we had to show for ourselves, was 2 pistol balls, and a few rivots.

Anyhow, he deserves his 2 minutes of fame, for his md'rs "hole in one" holy-grail of finds! Congratz Jim!

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Upvote 7
Man good find!! I can't wait until I find one of those beauties :-)
 

An 1850-P $5 gold coin is really a special find. Makes
you wonder how you missed it doesn't it!!
Congrats to Jim ..... Gold Nuggets :hello:
 

Now that's a beauty!
 

Take a closer look: it is not a US mint product. The reverse legend says "SMV California Gold." If it is an early, privately minted California gold piece, it could be far more valuable. Time to do some research! I hope it is authentic.
 

On closer inspection, it appears to be a Moffat & Company $5 privately issued piece from the gold rush days. A somewhat finer example in the Heritage archives brought $4,700 on Aug. 3, but the value will depend a lot on the condition and particular die variety, so an expert needs to examine it. Even a damaged piece brought over $2k at Heritage last year. Time to get that puppy authenticated! Much more interesting than an 1850-P $5!
 

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thanks for the v.d.i number I will definitely be digging the next positive 40 at 3 to 4 inches below surface.
 

rhedden, you caught that! A fellow on the CA forum just caught that too right now! You're right! It is a Moffat private mint territorial gold $5 !! (Says: "Moffat" where the "liberty" normally is on the headband).

In the field, we just merely looked under the eagle, saw no mint-mark. So I assumed "Philly". It never even dawned on any of us to look further (I mean .... why would we? I mean WHAT are the odds anyhow?? Doh!). And we didn't have a magnifier, nor were we going to do any field cleaning or have any need to read further anyways. ha!

I had the price guide on my android phone, so could immediately discern that philly was a common date for that year. So I simply had no need to grade or read further. DOH! And when I downloaded to my 'puter, and then to the net, I simply wasn't even looking at that! Thanx for the "catch", and thanx to Dan (southern CA) on our Kinzli CA forum for catching that too.

Here's the link: (you have to hit "close" to go past the opening ad):

PcgsCoinFacts.com : Your Online Reference for U.S. Coins

As you can see, it's going to be between $3k to $5k in value, depending on condition.
 

id be doing the worlds ugliest happy dance for hours on end. Itd be very disturbing and prove the age old addage that white guys have no moves! way to go for ur buddy:icon_thumleft:
 

HOLEEEEE CRAP that is just about the most awesome thing ever. huge congrats to your friend! :headbang:
 

I'm looking at my Red Book there's a 1851 S.M.V. CALIFORNIA GOLD AKA DUNBAR AND COMPANY SAN FRANCISCO LIST PRICES 4-6 KNOWN. $375.000. Im praying for ya its a real one not a counterfeit.
 

99 out of a hundred of us MDers wont find a gold coin in our lifetime, give Jim a pat on the back for an awesome find.......and pick pocket it with your left hand :censored:
 

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