History of Rare Coins 101: The San Francisco Mint

The news on discovering gold in California by James w. Marshall in 1848 spread like wildfire attracting over three hundred thousand gold seekers. In seven years, miners could pull out 750,000 pounds of gold but moving the gold from California to Philadelphia mint was dangerous and costly since railroads had not come into existence yet.

Turning the gold bullions into coins was also an overwhelming job to the USA state Mint. In 1850, the president requested the formation of the California branch to reduce the workload for the Philadelphia Mint. The president’s request was approved in 1852 and came into operation in 1854.

Keep reading for more facts and history of rare coins 101: the San Francisco Mint.

Massive Production in Its First Year of Operation

San F. Mint produced millions of dollars in gold pieces in 1854, the first year of production. As expressed by doctor Nellie in the autobiography of Helen McKnight Doyle, M.D., 1879, there was massive production of gold when San Francisco Mint came into existence which resulted in significant production of gold pieces. The San Francisco Mint was also strategically located near most mining towns.

Withstood Earthquake in 1906

The Francisco Mint remained the only commercial institution that survived the earthquake in 1906. All banks were ruined or left useless, and as a result, the old Mint became the safe house for all catastrophe relief money. Bankers approved it for all basic banking operations for the residents during the distressful time.

Francisco Coins is top-rated by collectors

San Francisco produced its first coinage in 1854 and ended the production of its coins in 1955 when it was converted into an assay office. Compared to Philadelphia or Denver, San Francisco Mint has a lower production making these coins rare and most sought-after by coin collectors.

Produced the Popular Morgan Dollar

The history of the famous Morgan silver dollar runs back to the year 1878 to 1921. Surprisingly, it was produced by San Francisco through all the years of its existence. Although the Morgan dollar was produced in large numbers, its dramatic meltdown in 1918, 1942, and 1979 decreased its supply.

Morgan’s silver destruction not only made the coins hard to find but also skyrocketed silver prices.

The Highly Desired Coin

Suppose you are planning to venture into coin collection or want to increase your supply, San Francisco Mint coins make a perfect option to start with. Here are some of the top-rated Francisco coins.

The Silver coin produced in 1893 is the least coinage of any Morgan silver dollars ever produced, making it among the most desired coins.

The Indian Head coin minted in 1909 has around three hundred and nine thousand pieces making it hard to find.

The Liberty Head nickel –1912. The original nickel produced in Francisco has the least coins in the whole production. You can find them with coins dealers that deal with rare coins collection.

The Final Thought

If you want a unique coin collection, it will be a brilliant idea to consider collecting the rarest coins. Supposing you have a specific set you wish to build, consider dealers with tremendous respect within the rare coin industry. They will help you gather all your preferred coins even if they have to source them from other collections.