Cincinnati Mining & Trading Company (1849)

About This Coin

One of the rarest and most enigmatic issuers in the California Gold Rush private coinage series, the Cincinnati Mining & Trading Company produced gold coins in 1849 that rank among the most valuable American numismatic pieces. The company was organized in Cincinnati, Ohio, as one of many joint-stock ventures formed to outfit groups of prospectors heading to the California goldfields. Unlike most such companies, which confined themselves to supplying equipment and transportation, the Cincinnati Mining & Trading Company apparently operated its own coining facility, producing $5 and $10 gold pieces from California gold dust. The coins feature relatively simple designs with the company's name, denomination, and date — functional rather than artistic presentations suited to the urgency of creating acceptable coined money in a region without government minting facilities. Extremely few examples survive from what was likely a very small production run, making Cincinnati Mining & Trading Company coins among the rarest of all California private gold issues. Within the California Gold (1849-1855) series, this company's coins represent the direct connection between Eastern business organization and Western frontier minting that characterized the Gold Rush economy. A notable auction result reached $431K in XF grade at Stack's, reflecting the extraordinary premium that extreme rarity and Gold Rush provenance command in the private gold coin market.