(1853) G25C BG-222 (Regular Strike)
Obverse & Reverse
The BG-222 25 Cents, or Quarter Dollar, is a quintessential example of 'Period One' California Fractional Gold, a fascinating and historically significant series born out of necessity during the California Gold Rush. Following the discovery of gold at Sutter's Mill in 1848, a massive influx of prospectors and merchants descended upon California, creating a vibrant but chaotic economy. While gold dust was plentiful, official United States coinage was exceedingly scarce, particularly small denominations needed for daily transactions. This 'small change famine' made simple purchases difficult, forcing merchants to use pinches of gold dust—an imprecise and often contentious method—or rely on a confusing mix of foreign coins. To fill this void, private jewelers and metallurgists in San Francisco began striking their own small-denomination gold coins in 1852. These pieces, intended for actual circulation, were generally accepted in commerce and helped facilitate the region's booming economy. The BG-222 is attributed to Antoine Louis Nouzillet, a prominent French jeweler in San Francisco who was a prolific producer of these early fractional coins. Struck between 1853 and 1854, these pieces were crudely but charmingly produced, often by hand-hammering the dies. Their designs closely emulated federal coinage, featuring a Liberty Head motif to inspire public confidence. These 'Period One' issues were generally of honest weight and fineness for their time, though still profitable for their makers. Their circulation gradually ceased after the San Francisco Mint began full-scale production of federal coinage in 1856, providing an adequate supply of official money and rendering the private issues obsolete. Today, the BG-222 and its contemporaries are prized numismatic artifacts that provide a tangible link to the turbulent and enterprising spirit of the Gold Rush.
Associated EventCalifornia Gold Rush
Reason For MintingTo alleviate a severe shortage of small denomination coinage for commerce in Gold Rush-era San Francisco.
Minter HistoryAntoine Louis Nouzillet was a French jeweler and one of the most significant private minters of California Fractional Gold during Period One (1852-1857). Operating in San Francisco, his firm was known for its fine workmanship relative to other contemporary issuers. Nouzillet, sometimes in partnership with M. Deriberpie, produced a wide variety of quarter dollar, half dollar, and dollar denominations in both round and octagonal shapes. His issues are characterized by their Liberty Head designs, closely mimicking those on federal gold dollars to foster acceptance and trust among the public.
Historical SignificanceAs a 'Period One' issue, the BG-222 represents a genuine circulating medium of exchange from the height of the Gold Rush. It is not a later souvenir piece but a true monetary artifact that solved a critical problem in California's nascent economy before the establishment of robust federal minting operations in the West. Its existence demonstrates the private enterprise and ingenuity required to build a functioning society on the American frontier.
BG-222
Denomination25 Cents
Minting Periodc. 1853-1854
Assayer/MinterAntoine Louis Nouzillet
Geographic OriginSan Francisco, California
Obverse DescriptionA small, somewhat crude Liberty Head facing left, modeled after the U.S. Gold Dollar of the period. The portrait is surrounded by 12 five-pointed stars. The portrait details, such as the hair and diadem, are often softly defined.
Obverse Inscription Reverse DescriptionA simple wreath composed of two branches tied with a bow at the bottom. The wreath encircles the denomination '25 CENTS'. The style of the wreath is relatively open compared to later issues.
Reverse Inscription25 CENTS
CompositionGold
Stated Fineness Actual FinenessVaries, but typically 14 to 21 karats.
Diameter9.70 mm
EdgePlain
Unknown, as with most private issues of the era.
Survival Estimate300-500. Combining population reports from PCGS and NGC as of late 2025 shows over 300 graded examples, suggesting a surviving population in this range.
Rarity ScaleR-2 (Common for the series)
The BG-222 is highly popular as a representative and affordable entry point into the world of 'Period One' California Fractional Gold. Its connection to the Gold Rush, its status as a circulating coin, and its classic Liberty Head design make it a favorite among collectors of territorial and pioneer gold.
Key VarietiesThe primary BG-222 variety is the regular business strike. No proofs or special collector issues were created during its original period of minting. Minor die states exist due to the crude production methods, but these are not typically collected as major varieties. There are no known official restrikes.
Authentication TipsAuthentic BG-222 specimens have a distinct 'feel' and strike character. The surfaces often have a slightly uneven, handmade quality. The details, while soft, should not be mushy or tool-marked like many modern replicas. Genuine pieces must have a denomination ('25 CENTS') on the reverse; souvenir tokens made after 1882 often lack a denomination to comply with federal law. Look for sharp, albeit irregularly spaced, lettering. Counterfeits may appear overly perfect, have incorrect weight or diameter, or display a casting seam or porosity under magnification.
Shopping ConsiderationsA premium quality example for its grade will possess a sharp strike for the issue, especially on Liberty's hair details and the numerals on the reverse. Seek out coins with smooth, lustrous surfaces and minimal distracting contact marks—a challenge given their small size and circulation. Original, uncleaned 'skin' with a pleasing reddish-gold or deep yellow-gold patina is highly desirable. Avoid examples that have been harshly cleaned, polished, or mounted in jewelry, as these issues are common and significantly reduce value. A coin that is well-centered on the planchet also commands a premium.
A coin's grade is its condition, rated on a 1-70 scale. For rare coins, this is the most critical factor in determining value, as a tiny difference in preservation can mean a huge difference in price.
Relevant Grade TypesOriginal BG-222 issues were business strikes intended for circulation. They are found in Circulated grades (AG-3 to AU-58) and, more commonly for this variety, in Mint State (MS-60 to MS-70) due to hoarding. No Proof (PR/PF) examples were struck during the original minting period, and no later-date Proof restrikes are known to exist.
Mint State CharacteristicsUncirculated examples are common for this variety, but quality varies greatly. A typical MS example may show some weakness in strike, particularly on the highest points of Liberty's hair and the wreath's leaves. Luster is typically satiny and slightly subdued rather than deeply frosty or prooflike. Due to the softness of the gold and the hand-striking process, it is common to see small planchet irregularities or minor adjustment marks made before striking, which should not be confused with post-strike damage.
Circulated Wear PatternsWear first appears on the high points of Liberty's hair, cheek, and the coronet. On the reverse, the highest points of the wreath's leaves and the bow will show initial friction and loss of detail. On lower grade examples (VF and below), the stars on the obverse will begin to merge with the fields, and the lettering on the reverse will become faint.
Key Factors For ValueFor the BG-222, key value drivers are surface preservation and strike. An example with pristine, lustrous, and original surfaces will command a significant premium over a cleaned or marked-up coin of the same grade. A sharp, well-centered strike that brings up the finer details of the hair and wreath is highly sought after. Eye appeal is paramount; coins with rich, attractive original color are prized. A CAC sticker for this issue confirms premium quality for the grade and often results in a higher market value.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 20 | N/A | N/A |
| 40 | $165.00 | N/A |
| 45 | $175.00 | 1 |
| 45+ | $180.00 | N/A |
| 50 | $185.00 | N/A |
| 50+ | $190.00 | N/A |
| 53 | $200.00 | 1 |
| 53+ | $210.00 | N/A |
| 55 | $220.00 | 7 |
| 55+ | $225.00 | N/A |
| 58 | $235.00 | 15 |
| 58+ | $245.00 | N/A |
| 60 | $265.00 | 7 |
| 61 | $285.00 | 23 |
| 62 | $335.00 | 152 |
| 62+ | $350.00 | N/A |
| 63 | $375.00 | 128 |
| 63+ | $400.00 | N/A |
| 64 | $475.00 | 107 |
| 64+ | $525.00 | 1 |
| 65 | $850.00 | 19 |
| 65+ | $975.00 | 2 |
| 66 | $1,500.00 | 3 |
| 67 | N/A | N/A |