AFFORDABLE COLLECTOR GRADE 1855 KELLOGG $20.00

Millions of Kellogg double eagles dated 1854 and 1855 were struck, but a sizable percentage were melted at the newly-opened San Francisco mint once the problem of a lack of parting acids was resolved. For a coin that should be common, the 1855 Kellogg $20 is actually a surprisingly tough issue to locate in all grades.

This coin shows pleasing deep reddish-gold color of the sort often referred to as “leather pouch.” Now I don’t know the origin story of this piece but—hey— I’m thinking there is a small chance that it was won in a card game in a saloon on New Montgomery Street ca. 1855 and that the miner who won it, tossed it into his day pack after he won a big hand of poker. He was shot and killed on his way back to the gold fields and the coin sat—undisturbed— for over 150 years.

No EF45 examples of this issue have sold at auction since early 2018 while just one AU50 (graded by PCGS) has sold in nearly two decades. It brought $16,800 as Heritage 6/2024: 3237.

Price guides do not reflect the scarcity of this issue and its historical significance as a Pioneer type made while the new US Mint had opened a year prior.

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