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This matches Mike Locke’s CalGoldCoin.com classification as 1859 Indian #2 under Wreath #5 (slender laurel wreath with paired leaves/berries, “CALIFORNIA” above and “* GOLD *” below, date in center). The “B” appears below the Indian head, with 11 stars. These are private California gold/souvenir tokens (often gold-plated or low-fineness gold), not the earlier circulating fractional issues. Diameter of 9.7 mm is standard for this small round size. The “B” is a private mark from the original manufacturer or die sinker, but the exact identity of that person or firm has not been firmly established (or at least is not widely published). These tokens were produced by various San Francisco-area jewelers in the mid-to-late 19th century as souvenirs rather than circulating coinage. An exact match (1859-Dated California Fractional Gold Token Indian “B” – Wreath #5, 11 Stars, Round 9.7 mm, NGC MS-65) sold at Great Collections on May 11, 2025 (cert #4737258-002).
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