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The 1848 California Gold Rush led many Oregonians to return home with gold dust and nuggets, creating a need for standardized coinage. In response, the Oregon Exchange Company was established in 1849 to privately mint $5 and $10 gold coins.
Key Features of Oregon Gold Coins (1849)
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Denominations Issued:
- $5 Gold Coin – 6,000 minted
- $10 Gold Coin – 2,850 minted
- Privately issued in Oregon City after the territorial mint proposal was rejected as unconstitutional.
- Designed with a beaver on a log, symbolizing the Oregon Territory’s identity.
- Coins contained more gold than their face value, making them valuable for trade and melting.
Why Oregon Gold Coins Were So Rare
- No standardized alloy was used, but coins were intentionally overweight for acceptance.
- Mintage ceased in September 1849 after the mint’s crucibles broke.
- Most were sent to California for trade and later melted, leaving only a few surviving today.
Rarity & Collector Demand
- Oregon gold coins are exceptionally rare, as most were destroyed for their gold content.
- Only a handful of high-grade specimens exist, making them some of the most desirable territorial gold coins.
Shop Rare Oregon Gold Coins at ParadimeCoins.com
At ParadimeCoins.com, we offer certified Oregon gold coins, including rare $5 and $10 pieces from 1849. Own a piece of Oregon's numismatic history today!
