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Anyone know about old coins?
I have a coin, 1849, that says "California Twenty Dollars" on one side and "Cincinnati Mining and Tracing Company" on the other. I can't find this coin anywhere on the web. Can anyone help me?
Also, if it has an "R" stamped in it does that mean replica?
1 Answer
- 1 decade agoFavorite Answer
Based on what you have stated, the coin is a trade coin made by Cincinnati Mining and Trading Company (also know as California Mining and Trading Company of Cincinnati). The coin is very likely made of copper for a trial strike (to see what the design would look like prior to minting coins in precious metals, such as gold). As far as we can tell from historical records, no actual trade coins were minted in the $20 denomination, only trial strikes were made (your coin may be quite valuable).
The shortage of coinage in the West, especially California, resulted in companies minting their own coinage for use in trade. Once the San Francisco U.S. Mint was established in the 1860's, these trade coins were removed from circulation as sufficient actual U.S. coinage entered the regional economy.
Please check the links below for dealers that may have more information on your trade coin.
Source(s): http://www.coinfacts.com/pioneer_gold/cincinnati_m... http://www.raregoldcoins.com/newsletter_archive.as... http://www.usrarecoininvestments.com/coin_info/pio...
