BG-1123, 1873 California Fractional Gold $1, Indian Octagonal PCGS MS65PL - FINEST PL-!

This attractive prooflike example was struck by Christopher Ferdinand Mohrig, a German-born San Francisco jeweler. The obverse exhibits a striking, well-crafted Indian head design. Inspired by, but not an unoriginal copy of the ever-present Indian Head cent, this specimen is a breathtaking miniature golden treasure. Thirteen stars surround the Indian head and the  date 1873 is found below.

The reverse offers an intricate wreath with berries, within which is found ‘1 DOLLAR.’ Above the wreath near the rim is ‘CALIFORNIA GOLD.’ PCGS has graded only 3 prooflike examples of BG-1123, and this is the sole finest! Collectors Universe gives this variety a price of $4,500.00 in MS65.

It was on August 10, 1876, that Mohrig was arrested by the Secret Service for being in violation of the 1864 law against private coinage. His stock and dies were seized and melted, which may explain the rarity of his varieties such as this one.

The Clay Street Hill Railroad was the first cable car railway in San Francisco. It was built in 1873, the year Mohrig struck this variety. Image: Wikimedia Commons.