BG-1108, 1870 California Fractional Gold $1, Liberty Octagonal NGC MS62 R7

This quite rare and important California Fractional Gold variety was designed and produced by the jewelry firm of Robert B. Gray and Company of San Francisco in 1870. PCGS reports that there are only 8-12 examples of it known today.

NGC has graded 1 of the BG-1108 variety as MS62PL with none finer.  However, collectors should know that NGC only has graded one example of the BG-1108. PCGS has graded 9 of them, with the finest being two in MS63. This example has a great look, with its rich, attractive reddish-golden reflective coloration.

San Francisco circa 1870s.

The design has similar elements to Gray and Company’s 1870 gold $1.00 BG-1107 variety. The obverse is the ubiquitous Liberty head, the same as the one found on BG-1107 with her long, wavy hair. As with all their work, the ‘G’ mintmark for Gray and Company is located below the Liberty head. ‘CALIFORNIA GOLD’ is wrapped around the reverse near the rim and outside a wreath with berries, while ‘1 DOLLAR 1870’ is within the wreath. While the wording and layout is similar, the wreath is different from the one on the BG-1107 variety.