1855 California Gold 20 Dollars Wass and Molitor & Co.
The assay firm of Wass, Molitor & Co. was founded in October 1851 by Hungarian expatriates Count Samuel C. Wass and Agoston P. Molitor. An expert in mining and mineralogy, Wass arrived in the gold fields in October 1850 and Molitor, himself an expert in metallurgy, emigrated from Hungary via London shortly thereafter in early 1851. With their combined expertise, the pair set up their first assay office on Montgomery Street. Their firm was successful from the outset having secured ingot production business from Adams & Company, a subsidiary of Adams Express Company. They moved to a larger facility on the corner of Montgomery and Merchant streets, formerly occupied by banker Henry M. Naglee. From there, Wass, Molitor & Co. struck $5 and $10 gold coins dated 1852. The coins were eagerly accepted in commerce. An early assay report showed that while the coins were slightly less pure than their federal counterparts, they were slightly overweight, just enough to make the coins' actual value higher than their declared value. As a result, some Wass, Molitor & Co. coins fetched a slight premium in commerce. Sometime around late 1855 or early 1856, the firm dissolved under the original name and was reorganized as Wass, Usznay & Co. Molitor moved to London around the same time. In 1855, the firm began to produce $10, $20, and round $50 gold pieces. The $20 was produced in two varieties, one with a large head of Liberty and one with a small head, evidently taken from a die punch intended for the $10 coins. " The Large Head $20 is a great rarity of the entire territorial series with perhaps a half dozen known examples. While somewhat more available than the Large Head variety, the Small Head $20 is still quite elusive. To underscore the rarity, PCGS has recorded a total of 19 grading events in all grades. Wass, Molitor, & Co. coins were heavily used at the time and examples often show the signs in the form of damage.
Private Gold Coins of the United States
1855 California Gold 20 Dollars Wass and Molitor & Co.