BG- 737, 1866 California Fractional Gold 25C, Liberty Octagonal NGC MS64+ R5 (2nd Finest by NGC)

Here's an important opportunity for the specialist, as this piece is finer than the Jay Roe Collection coin. That collection, sold back in 2003 by Bowers & Marena, was the defining specialized collection of the California Fractional series. The Jay Roe specimen of BG-737 was graded PCGS MS63. Such examples of finer quality, among them this offering by AUCM graded MS64+ by NGC, are definitely important to specialists today.  What also makes this piece important is that the Liberty bust is unique to the BG-737 variety.

The specimen offered by AUCM is finer than the BG-737 that specialist Jay Roe possessed and was sold at auction in 2003 by Bowers & Marena.

There are a limited amount of this issue available to the collector. PCGS has graded 29 pieces, the highest being MS64. NGC has graded 6 in mint state, with this MS64+ specimen the highest. However, there are two graded Prooflike by NGC, with one finer than the AUCM offering: NGC MS65PL. This striking octagonal piece was designed and produced in 1866 by the jewelry firm of Robert B. Gray and Company of San Francisco. It was either the year 1858 or 1859 that saw Gray purchase the business of another San Francisco jeweler and fractional gold manufacturer, Antoine Louis Nouzillet, including all of his dies, hubs, and punches. Later on, in 1871, Gray sold his own business interests to the California Jewelry Company.

The obverse carries the traditional Liberty head design that was inspired by the federal gold pieces of its time. Thirteen stars surround the Liberty head. The mintmark 'G' is below, for Gray & Company. The reverse presents a cereal wreath open at the top and tied neatly at the bottom. Within the wreath above is a shield with 1/4 within it. Below is found DOLLAR 1866.