1855/4 G$1 BG-511a (Regular Strike)
Obverse & Reverse
The 1855/4 G$1, cataloged as Breen-Gillio 511a, represents an artifact of profound rarity from the zenith of the California Gold Rush. This 'Period One' fractional gold piece emerged from a chaotic economic environment where a severe shortage of circulating small change hampered daily commerce. The massive influx of gold dust from the Sierra Nevada foothills created immense wealth, but the United States Mint in San Francisco, which only began operations in 1854, could not produce enough federal coinage to meet the exploding demand. Local merchants, miners, and citizens were forced to transact with inconvenient pinches of gold dust, foreign coins, or privately issued scrip. Into this void stepped numerous jewelers and metallurgists, who began striking their own small-denomination coins. These 'fractionals,' in quarter-dollar, half-dollar, and dollar denominations, were often underweight but served as a crucial economic lubricant. The firm of Frontier, Deviercy & Co., identified by the initials 'FD' on the reverse of the related BG-511 variety, was one such private enterprise. These French-born jewelers applied their craft to the production of coinage, creating designs that mimicked federal issues to inspire public confidence. Their octagonal dollar, with its classic Liberty Head, was a familiar sight. The specific BG-511a variety is an overdate, with the '5' in 1855 clearly punched over a '4'. This die modification speaks to the pragmatic and hurried nature of these private mints; usable dies were valuable and would be repurposed to save time and expense. The existence of the BG-511a is known to numismatic researchers, but its status is almost mythical. According to the second edition of the Breen-Gillio reference work, the BG-511a is one of a handful of varieties that are 'unknown in any collection at this time.' This suggests it is either a unique piece lost to time or a die pairing of which only a few examples were ever struck before the die failed, and none have yet been rediscovered. Its story is thus one of both commercial necessity and numismatic mystery, a tangible link to the Gold Rush that remains tantalizingly out of reach for modern collectors.
Associated EventCalifornia Gold Rush
Reason For MintingTo alleviate a severe shortage of small-denomination circulating coinage for daily commerce in Gold Rush-era California.
Minter HistoryFrontier, Deviercy & Co. was a San Francisco-based firm of jewelers and watchmakers active during the 1850s. Like several other skilled artisans of the period, such as Antoine Louis Nouizillet, they leveraged their metallurgical skills to meet the public's desperate need for small change. They produced a variety of octagonal and round fractional gold pieces, often identifiable by the 'FD' hallmark on the reverse. Their products are characteristic of 'Period One' issues, which were generally of higher quality and closer to their intrinsic value than the later, more souvenir-like 'Period Two' issues.
Historical SignificanceThis coin is a prime example of the private minting phenomenon that characterized the American West before federal coinage became widely available. It illustrates the ingenuity of private enterprise in solving immediate economic problems and serves as a direct monetary artifact from one of the most significant migratory and economic events in U.S. history. The extreme rarity of the BG-511a variety makes it a legendary issue within the specialized field of California fractional gold.
N/A
Denomination$1
Minting Period1855
Assayer/MinterFrontier, Deviercy & Co.
Geographic OriginSan Francisco, California
Obverse DescriptionLiberty Head, modeled after the contemporary federal gold dollar designed by James B. Longacre. The portrait faces left, hair tied in a bun, wearing a coronet inscribed LIBERTY. Thirteen stars encircle the portrait.
Obverse InscriptionLIBERTY
Reverse DescriptionThe denomination '1' and 'DOLLAR' are enclosed within a beaded inner circle. The legend 'CALIFORNIA GOLD' is inscribed above, and the initials 'FD' (for Frontier, Deviercy) are typically found below the beaded circle on the parent BG-511 variety. The entire design is enclosed within the octagonal border of the coin.
Reverse InscriptionCALIFORNIA GOLD / 1 / DOLLAR
CompositionGold
Stated Fineness Actual FinenessVariable, but typically around .880 fine, consistent with unrefined California gold.
Weight0.90 grams
Diameter12.00 mm
EdgePlain
Extremely low; likely only a handful were struck as a transitional variety.
Survival Estimate0 known; this variety is currently unlocated and not represented in any known public or private collection.
Rarity ScaleR-9 (Unique or Unlocated)
The BG-511a is a 'ghost' of fractional gold collecting. Its appeal is immense to the specialist, as it represents one of the ultimate rarities in the series. The 1855/4 overdate provides clear evidence of die modification and minter pragmatism. Owning an example would be a pinnacle achievement, though its current unlocated status makes this a theoretical pursuit.
Key VarietiesBG-511a is itself a key die variety of the BG-511. The primary distinction is the clear repunching of the final '5' in the date over an underlying '4'. No later-date restrikes or collector issues of this specific variety are known to exist. The parent variety, BG-511, is a Rarity-4+ coin and is collectible, serving as the available proxy for collectors wanting an example of this design and date.
Authentication TipsIf an example were to surface, authentication would be paramount. It should be compared against high-resolution images of known BG-511 specimens to match die characteristics (such as star placement and letter punches) of both the obverse and reverse. The overdate should appear logical, with the underlying '4' showing the correct font and position. The planchet fabric, strike character, and surface texture must be consistent with other known Frontier, Deviercy products. Given its status, any potential discovery would require exhaustive analysis and certification by top experts in the field.
Shopping ConsiderationsAs the BG-511a is currently unlocated, a buyer cannot 'shop' for one. A collector interested in this issue should focus on acquiring a high-quality example of the obtainable parent variety, BG-511. For a BG-511, a premium quality piece would exhibit a bold strike, particularly on the word LIBERTY on the coronet and the date. Surfaces should be clean for the grade, with minimal distracting marks and evidence of original, slightly reddish-gold luster. Weakness in the center of the reverse is common. Avoid examples that have been harshly cleaned, show evidence of mounting for jewelry, or have significant edge bumps.
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 TypesAll original Period One California Fractional Gold pieces were struck as business strikes for circulation. They are found in Circulated grades (AG-3 to AU-58) and Mint State grades (MS-60 to MS-70). No proofs were struck during the original minting period, nor are any later-date Proof restrikes of the BG-511a variety known to exist. Should an example of BG-511a be discovered, it would be graded as a business strike, regardless of its state of preservation.
Mint State CharacteristicsFor the related BG-511, a Mint State example is defined by the absence of wear. Quality is then determined by the strike, luster, and surface marks. The strike is often uneven, with weakness common on Liberty's hair and the reverse denomination. Luster is typically soft and satiny, not deeply frosty. Due to the primitive minting process and soft gold, small planchet flaws and contact marks are common and must be evaluated to determine the specific MS grade (e.g., MS-61, MS-62, etc.). An MS-63 or finer would be considered a superb example.
Circulated Wear PatternsOn this design type, wear first appears on the highest points: Liberty's cheek, the hair above the eye, and the coronet. On the reverse, the numerals of the denomination and the letters in 'DOLLAR' will show initial friction. In lower grades (Fine and below), the word LIBERTY on the coronet becomes illegible, and the stars begin to merge with the field.
Key Factors For ValueFor any California Fractional Gold coin, value is driven by rarity, grade, and eye appeal. For the obtainable BG-511, a sharply struck coin with smooth, lustrous surfaces will command a significant premium over a weakly struck or heavily marked example of the same grade. Original, unconserved surfaces are highly prized. A CAC sticker would provide further validation of quality for the assigned grade and would add a strong premium. Should the BG-511a ever be found, its value would be astronomical, primarily driven by its unique rarity, with its specific grade being a secondary, albeit still important, factor.