There are few greater rarities in the territorial gold series than the gold coins of J.J. Conway & Co. Rated as Rarity-8 by Kagin, the $5 piece is known by just a few specimens, leaving most collectors essentially no hope of ever acquiring one. Were one to appear on the market, it would no doubt bring a substantial six-figure sum. While the Clark, Gruber pieces were coined in Denver on modern equipment—including dies made in Philadelphia—the Conway pieces were produced locally in the gold country, on dies made locally. Few were made, and fewer still survive, as they were quickly panned by locals. As noted by Kagin, "Conway ceased operations sometimes before the end of the 1861."