Massachusetts & California Gold - Massachusetts & California Co.
Because of their high copper content, researchers
believe that the five dollar issues of the Massachusetts
& California Co. were made in the East. Native California
gold had a high silver content. The pieces are most likely
patterns.
Letterheads of the Massachusetts & California
Co. were found in California. Frederick P. Tracy served
as the company’s secretary.
In January, 1849 The New York Tribune reported
that "In Northampton (Mass.) Rev. F. P. Tracy is the
agent of a company who have raised $6,000, and are soon
to leave." In February it was reported that the ship
Mary Wildern left for California with members of the Massachusetts
& California Co. aboard. At the time the company had
150 members.
In January, 1898 the following article was
reprinted in the American Journal of Numismatics from a
May 1849 newspaper:
The Massachusetts &
California Co., formed in Northampton, Mass., which originally
contemplated a capital of only $6,000, has increased it
to $50,000. Only a quarter of the amount, however, is to
be paid in at the outset. Josiah Hayden of Haydensville
is president of the company, and S. S. Wells of Haydensville,
Miles G. Moies, and others, direc-tors. Rev. F. P. Tracy
goes out to California as its active agent. It is the intention
of the Company to establish a private mint at California,
and, with the approbation of the Government, to make coins
of the same denominations as the coins of the United States,
and of equal, if not a little higher, value.
