BG- 216, 1854 California Gold Rush Circulating Fractional Gold 25C, Liberty Round, NGC MS64 --Finest Known!

Here’s an excellent opportunity to acquire a “Finest Known” example of a popular California Fractional Gold issue. There have been only 9 of the BG-216 graded by NGC. Only 3 carry the grade of MS64 with none finer. NGC has graded one example as MS64 PL. PCGS has graded 25 of the BG-216 issue, with 2 of them graded as MS64 with none finer. No Prooflike pieces of BG-216 have been graded by PCGS.

The obverse has the left-facing Coroneted Liberty head that is derivative of the US government-issued $1.00 gold coin, surrounded by 13 stars. The reverse has within an agricultural wreath ¼ DOLLAR 1854. This is a frosty example with attractive contrasting fields.

Gold miners during the California Gold Rush. Photo: Wikipedia.

The Joseph Brothers emerged in numismatic history as pioneers of California Fractional Gold. Their Fractional Gold coin business was taken over by Frontier, Devierey & Co. 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. Lande writes, "...the resemblance between the period's gold U.S. $1.00 pieces and many of the California gold...pieces is uncanny..." These diminutive gold coins fit the bill of meeting the shortage of small change. Aesthetics are not a concern when producing emergency coinage. 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."