California Fractional Gold Coins, pocket change from the Gold Rush

In the 1850's small octagonal and round coins were occasionally used as money in Northern California, along with gold nuggets and federally issued gold coins, like the $10 piece pictured above.

The gold rush economy of Northern California in the early 1850's lacked sufficient smaller denomination coins to facilitate the rapidly growing commerce of the area. Federal coinage was hoarded and not readily available. Because of the abundance of native gold and lack of small denomination coins, transactions were often made with gold dust, nuggets, and other primitive assay products, like the amalgam ball. 

By 1852 several entrepreneurs began making small gold coins of varying values. Mostly jewelers by trade, these men frequently hand struck these little coins. The practice of making private small gold coins continued for years after the San Francisco mint was producing sufficient coinage for the West, with most later pieces produced as souvenirs.

Today California fractional gold coins are often categorized into two classes based on when they were struck. Period 1 coins were minted from 1852 to 1856. Many experts in the field agree that these pieces were often used as small change in the gold rush, and this theory is supported by the fact that a significant percentage of these early pieces have circulation wear. By contrast, period 2 coins were made from 1859 to 1882, and are often called "jewelers issues." These pieces frequently have much less gold content than their stated value would dictate. Additionally, these later pieces are more often found in high states of preservation, as they were usually saved as souvenirs from the California gold fields. 

Fractional gold coins come in denominations of 25 cents, 50 cents and one dollar. Additionally, coins come round or octagonal. Collecting these coins can be done by design, denomination, or by variety. However, there are over 500 different varieties in the series, with many pieces being prohibitively rare and thus make infrequent appearances at auction. The varieties are most often noted by a BG number, in reference in a book co-authored by Breen and Gillio.

Click the coins pictured below for 600dpi scans

Octagonal Quarter Dollars

		The firm of Frontier, Deviercy & Co. was among the most prolific producers of California small denomination gold coins. The reverse on many of their coins includes a circle of beaded dots, with the denomination and the date. This coin is from 1854 and is referred to as a BG105. The different varieties of octagonal 1/4 dollar coins from this firm are distinguished by different dates, numbers of stars on the obverse, and other attributes.
		This octagonal 1/4 dollar was made by Antoine Louis Nouizillet & Co. located at 58 Kerney Street in San Francisco in 1854. The variety is a BG 108. This specific coin is well preserved in near gem mint state with original toning, and was part of the Harry Bass Jr. collection.

Round Quarter Dollars

This coin is a round 1/4 dollar dated 1853 made by the prolific firm Frontier & Diviercy. Although this coin has typical fractional coin motifs, it is a very rare BG 214 and is believed to be one of about a dozen examples to exist in any grade. This specimen is the finest of just 4 certified.

Octagonal Half Dollars

		This scan shows an 1853 octagonal half dollar featuring the "Peacock" reverse type, BG 302. Although the reverse of the coin is supposed to depict an eagle with rays, like the reverse of an 1853 silver half dollar, many feel it looks more like a peacock, hence the nick name. This specific specimen is preserved in choice mint state and exhibits multicolor toning on the obverse. It was originally part of the Harry Bass Jr. collection.
		This coin was made by Frontier & Divercy and is a BG 305. Octagonal half dollars by this maker have reverse motifs featuring either a beaded circle (such as this coin), a peacock (like the BG 302 above) or an eagle similar to the mircoslug design. This is a choice prooflike uncirculated specimen with hazy toning.
		This octagonal gold half dollar was made by Antoine Louis Nouizillet & Co in 1856 and it is identified as a BG 311. There are about 4 different varieties of the wreath reverse octagonal half dollar, including coins dated 1854 and 1855. This specimen is unusual in that it was double struck on the obverse, leaving an overlay of a second image just slightly rotated from the first strike. Click the obverse and look at the stars, the coronet, and the nose to see doubling.

Round Half Dollars

		This round half dollar was made by Joseph Bros. in 1852, the first year fractional gold was known to be struck.  These brothers were sons of a famous English silversmith, and as jewelers themselves the filled the need for gold rush small change and souvenirs with varieties like this BG 401. Click here to view a merchant token from Joseph Bros. from their store in San Francisco in the early 1850's.
		The maker of these coins is still unknown today, but the design is one of the most beautiful and desirable of all fractional varieties. This little jewel is dated 1853 and is often called the California Arms 50 cent piece, as the obverse design depicts the Great Seal of the State of California. The reverse has an eagle holding a shield.  This specimen is a choice mint state example with original toning. The coin's BG number is 435.

Octagonal Dollars

		This octagonal $1 design is often referred to as a "microslug" because of the similarity of  the eagle to the much larger $50 octagonal gold pieces. This BG 501 coin does not have a date, but  it is believed to have been struck in 1853 by Frontier and Deviercy. It is a popular design type for California small denomination gold collectors. Click the pictures on the right to view  high resolution scans of this mint state coin.
		The condition, or state of preservation is important to a coins value. This octagonal dollar is in gem prooflike condition with a touch of cameo frost. It was part of the Kenneth Lee collection, and is the BG 510 plate coin in the Breen/Gillio book. This piece by made by Frontier and Deviercy in 1854 has the letters FD on the reverse to identify them as the makers.

Round Dollars

For collectors who wish to put together a type set of California small denomination gold coins, the round dollars from period one are among the most rare and difficult to obtain. Current estimates are that about 50 survive in all grades and varieties combined. This coin is dated 1854 and is a BG 603 in almost uncirculated condition.

These small gold coins are fascinating pieces of Gold Rush history, and they can be obtained for significantly less than their larger denomination counterparts produced by private Assay firms such as Moffat&Co., Humbert, the USAOG, and Kellogg&Co. 

In my opinion the best web site for California Fractional Gold collectors is www.calgoldonline.com. This site has discussion forums, pictures, articles, and is a great place to meet other people interested in California Small Denomination Gold. 

As with most collectables, knowledge is king. Beware of unscrupulous characters selling modern replicas or tokens as the real thing. These modern knock off's often have a bear on the reverse, a star, or do not state a denomination. However some fakes can be quite deceptive even for an experienced collector.  A great website which extensively covers Cal. tokens and replicas is posted by  Mike Locke and can be found at www.calgoldcoins.com

Disclaimer: I do not own many of the coins pictured on this website. My modest collection is kept in a bank safe deposit box at all times. I do enjoy examining and studying these fascinating coins and artifacts. If you have quality scans of California gold rush coins, artifacts, or assay receipts, I would love to see them for possible inclusion on my web site with or without a photo credit. Please e-mail to goofyft@aol.com. 

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