Wass and Molitor were Hungarian freedom
fighters and immigrants who opened an assay office in San
Francisco in 1851. Count Samuel C. Wass and Agoston (Agustus)
P. Molitor studied at the School of Mines in Germany. They
were experienced miners when they were exiled by the Austrians
at the end of the unsuccessful revolution. Wass came to
California in 1850, and Molitor came a year later. They
opened up their assay office in October, 1851. At first
they made and stamped gold ingots. In the process, they
established their reputation for honest, fast, and reliable
service. They paid depositors in forty-eight hours, which
was six days faster than the U.S. Assay Office was able
to do.
Since the U.S. Assay Office was only producing
fifty dollar slugs, Wass and Molitor made five and ten-dollar
gold coins in 1852. The obverse of these coins shows a Liberty
Head Coronet surrounded by thirteen stars. On the coronet
is inscribed W.M. & CO., with the date below. Dentils
are around the periphery of both sides of the coins. The
reverse of the five dollar coin shows a heraldic eagle facing
left surrounded with the legend FIVE DOLLARS IN CALIFORNIA
GOLD. The ten dollar reverse has the same eagle surrounded
by the legend S.M.V. CALIFORNIA GOLD TEN D. S.M.V. means
Standard Mint Value. The coins were of a weight and fineness
that was the same as the federal standard.
When the San Francisco assay office and
later the Mint began making their own coinage, Wass and
Molitor stopped their assay business in 1854; however, when
the new San Francisco Mint could not make enough coins to
satisfy the need, Wass and Molitor resumed. In 1855, they
minted ten, twenty, and fifty dollar gold pieces. The twenty
dollar coin had an obverse similar to the earlier five and
ten dollar issues. The reverse has the same eagle surrounded
by the legend 900 THOUS. SAN FRANCISCO CALIFORNIA TWENTY
DOL. The fifty dollar coin is unusual in that it is the
only fifty dollar round California gold piece. The U.S.
Assay and Humbert slugs were octagonal shaped. The obverse
of the fifty dollar coin has a similar obverse that shows
a Liberty Head Coronet motif. However, unlike the other
denominations, the coronet was not inscribed. The reverse
features a laurel wreath surrounded by the legend SAN FRANCISCO
CALIFORNIA WASS MOLITOR & Co. Inside the wreath is 900
THOUS at the top on a small banner. Below that is the denomination
written as 50 in large numerals with the word DOLLARS below.
The fifty dollar coin was described in the
Sacramento Daily Union of April 30, 1855 as follows: "Col.
Pardee of Wells, Fargo & Co.'s Express has exhibited
to us the new fifty dollar piece, which in a great measure
is destined to supplant the old fashioned octagon slug now
in circulation. This coin is circular, almost entirely destitute
of ornament, and plain as a maiden's countenance who has
breathed the air of fifty summers. At the outer edge of
one side are the words 'Wass, Molitor & Co. San Francisco,'
enclosing on the centre of the coin the figures '900' and
abbreviated word 'Thous.' with the figures '50' underneath
and the word 'Dollars' below the latter figures. On the
reverse of the coin is a homely head of Liberty and the
figures '1855.' The coin certainly has no pretensions to
beauty; nevertheless we would not like to refuse a few to
break with our friends."
The 1855 Wass and Molitor coins were made
at a time when the federal assay office could not obtain
the necessary parting acids to refine gold dust and oar
with the required copper on a consistent basis. The daily
need for coinage was supplied by two firms Kellogg &
Co., and Wass and Molitor. Although the San Francisco Mint
rated the coins from Wass, Molitor at full face value, most
were nevertheless melted and converted into federal gold.
Wass, Molitor & Co fifty dollar gold
pieces are usually heavily dented, nicked and have scratched
surfaces and rims. Often the fields are retooled or polished
to remove these distracting marks.
All Wass, Molitor & Co., gold is rare
in all conditions. PCGS and NGS have certified 28 five dollar
coins, 227 ten dollar coins, 39 twenty dollar coins and
98 fifty dollar coins in all conditions and all grades.
These numbers do not account for resubmissions and crossovers.
