In 1851, certain issues of theMiners’Bank, Baldwin, Pacific Company, and others were discredited by newspaper accounts stating they were of reduced gold value. This provided an enhanced opportunity for Moffat and the U.S. Assay Office of Gold. Fractional-currency coins of almost every nation were being pressed into service by the Californians, but the supply was too small to help to any extent.Moffat&Co. proceeded in January 1852 to issue a new ten-dollar gold piece bearing the stampMOFFAT & CO.
The last Moffat issue, an 1853 twenty-dollar piece, is very similar to the U.S. double eagle of that period. It was struck after John L. Moffat retired from the Assay Office.