The 1849 Pacific Company Gold Dollar is one of the earliest and rarest issues of California’s Gold Rush era. Struck privately in San Francisco by the Pacific Company, it was part of a short-lived experiment to create a local gold currency before a federal branch mint opened. With only three regular-strike examples known today, it stands as one of the most elusive and historically significant pieces of U.S. territorial gold.

This specimen, certified XF45 by PCGS and approved by CAC, was formerly part of the Allen Rowe Collection prior to restoration. The drawing captures its rustic elegance in full: the eagle on the reverse stands proudly with wings outstretched, perched on a branch, surrounded by the bold inscription “PACIFIC COMPANY CALIFORNIA.” On the obverse, a miner’s head radiates outward in stylized rays, framed by stars and the denomination “1 DOLLAR.” The coin’s surfaces show moderate wear consistent with the grade, but retain strong central detail and a rich, aged patina that speaks to its frontier origins.

The rarity of this issue cannot be overstated. All known examples of the regular strike are unique in their preservation, and each carries its own quirks and die characteristics. The coin was struck in extremely limited numbers, likely intended for local commerce among miners and merchants in the chaotic early days of the Gold Rush. Its crude engraving and uneven planchet reflect the improvisational nature of California’s early private mints, where artistry often bowed to urgency.

Auction records for the Pacific Company Gold Dollar are sparse and dramatic. In 2014, a higher‑grade MS61 example realized $376,000 at Heritage, underscoring the extraordinary demand for this issue among territorial gold specialists. The present coin, while not the same specimen, belongs to the same elite tier of survivors. Its combination of rarity, frontier provenance, and CAC endorsement makes it a trophy among pre‑statehood California gold.

The historical resonance of this coin runs deep. It predates the San Francisco Mint and reflects a moment when California’s economy ran on improvisation and trust. The Pacific Company’s gold coinage—though short-lived—represents one of the earliest attempts to stabilize commerce in a region overwhelmed by gold dust, speculation, and rapid migration. Each surviving piece is a tangible link to the chaos, creativity, and ambition of the Gold Rush era.

Its rediscovery is as remarkable as its origin. In the 1920s, the coin was unknowingly accepted by a bus driver as fare, tucked into a jewelry box, and passed down through generations. When the family finally brought it to a coin shop decades later—wrapped in tissue inside a ring box—the dealer was stunned. After careful examination, the coin was confirmed authentic and ultimately sold at auction for approximately $350,000, transforming a forgotten heirloom into a numismatic legend.

Now held in an unknown private collection, this 1849 Pacific Company Gold Dollar is preserved as both a certified rarity and a piece of living folklore. The drawing captures its weathered beauty and storied past—transforming a nearly forgotten territorial issue into a visual meditation on scarcity, serendipity, and the enduring allure of America’s earliest gold coinages.