Norris, Gregg & Norris was the first private company to begin coinage in California. At least they were the first to be mentioned in the Alta California, a local newspaper. However, since some companies were never mentioned in the newspapers, it is possible there were others that preceded them. The first known reference was as follows: "We have in our possession a Five Dollar gold coin, struck at Benicia [City], although the imprint is San Francisco. In general appearance it resembles the United States coin of the same value, but it bears the private stamp of "Norris, Grieg & Norris", and is in other particulars widely different."

There are two problems that the Alta California article poses. The first is the spelling of the name Gregg. Humbert, the U.S. Assayer in California spelled it “Grigg,” and it was elsewhere spelled “Grieg.” In the Directory of New York City, it is spelled “Gregg.” Another is the idea that coins made by the company “resemble the United States coin of the same value.” Nothing could be further from the truth. The Norris coin is completely different from the federal coinage of the time. Perhaps an unknown type of Norris coin with a liberty head and heraldic eagle exist and is as yet undiscovered.

Sometime in 1850, Gregg & Norris moved from Benicia City to Stockton. In 1947 a piece from Norris & Gregg was found inscribed STOCKTON and dated 1850. The Stockton Times of April 6, 1850 describes the company’s coining operation. An article later in the month expressed the need and usefulness of the Norris & Gregg coins. Opposed to it were the gold dust brokers who were against the new mintage because they feared it would raise gold to its correct valuation. Norris answered the charges that his coins were of low value as follows: "1st--All the gold coin stamped by me is, as it purports on its face to be, of pure placer gold without any admixture or other substances. 2nd--These coins, on average, weigh 1 percent heavier than the U.S. Half Eagles. 3rd--The coins sell in Boston, New York, Philadelphia, and New Orleans at a premium of 1 percent."

It is unknown when Norris & Gregg stopped their assaying and coining business. Since the Stockton specimen is unique, it is not known if others were minted. As early as the next year, Norris & Gregg’s coin are not mentioned in newspaper articles, and the coins were no longer in circulation. Most likely they were recoined into federal gold coins when the Mint in San Francisco began to accept deposits of bullion.