BG- 208, 1853 California Gold Rush Circulating Fractional Gold 25C, Liberty Round PCGS AU55 R7

Great California Fractional Gold Rarity in PCGS Old Green Holder!

Here’s a rarity to add to your collection of California Fractional Gold. PCGS reports that there are only 7 to 10 pieces in existence at this time.

BG-208 was produced by the Joseph Brothers in San Francisco. The obverse presents a left-facing Liberty head surrounded by 10 stars; such designs on California Fractional coins were inspired by the federal gold issues of the 1850s. Upon the reverse is found a wreath open at the top, within which is ‘1/4 DOLLAR 1853.’ This piece was produced with gold from the California Gold Rush.

PCGS has graded 2 as AU55 with 8 finer. Since PCGS reports that there are just 7-10 extant pieces, this suggests resubmissions by collectors. Collectors Universe gives this rare variety a price of $3,500.00 in AU55.

“San Francisco,” an engraving by Charles A. Dana, circa 1853. Image: Wikimedia Commons.

The Joseph Brothers emerged in numismatic history as pioneers of California Fractional Gold. What they and the other jewelers in San Francisco created was in essence "emergency coinage." Robert H. Lande writes that these Period 1 coins (1852-1856) are "plain, sparse, minimalist, unadorned, and basic."

There was a serious effort on the part of the jewelers to mimic the federal government's then current $1 gold coin. To that end, over 99 percent of the Period 1 California Fractional Gold coins feature the iconic Liberty head motif. These diminutive gold coins fit the bill of meeting the shortage of small change in the West. Why did such coins carry similar designs? Lande writes, "Once some had been accepted as money, it would have been advantageous for minters to strike pieces that were similar to the previously issued and accepted pieces."