1853 G50C BG-422 (Regular Strike)
Obverse & Reverse
The 1853 Gold 50 Cents, cataloged as Breen-Gillio 422, is a quintessential artifact from the chaotic, formative years of the California Gold Rush. Following the discovery of gold in 1848, a massive influx of prospectors and merchants flooded into California, creating a vibrant but tumultuous economy. While vast quantities of gold were being extracted, the region suffered from a chronic and severe shortage of circulating small-denomination coinage. Gold dust, weighed imprecisely and subject to dispute, was a clumsy medium of exchange for everyday transactions. Federal silver and gold coins were scarce, often hoarded or exported as soon as they arrived. Into this numismatic vacuum stepped a number of private jewelers and metallurgists, many of French origin, who saw a commercial opportunity. These artisans began striking small-denomination gold coins—quarter dollars, half dollars, and dollars—to facilitate local commerce. The BG-422 is a prime example of these 'Period One' (1852-1857) issues, which were genuinely intended to and did circulate as currency, unlike the later, often underweight 'Period Two' pieces made primarily as souvenirs. Struck in 1853, the BG-422 emerged at a time when San Francisco was rapidly transforming from a muddy tent city into a burgeoning metropolis. The coin's engraver is noted as Deriberpe, whose initial 'D' appears below the bust of Liberty. He often worked in partnership with fellow French jeweler Antoine Louis Nouizillet. Their fractional gold pieces, though often slightly underweight compared to their federal counterparts, were a vital lubricant for the local economy, allowing for transactions as small as buying a drink or a loaf of bread to be conducted with coined money rather than cumbersome gold dust. However, their existence was a constant point of contention. Banks were often reluctant to accept them, and their intrinsic value was questioned. The establishment of the San Francisco Mint in 1854 signaled the beginning of the end for these private issues. As federal coinage became more plentiful, the necessity for privately minted gold waned, and by 1857, the production of Period One fractional gold had ceased, rendering survivors like the BG-422 rare and historically significant relics of a time when private enterprise directly addressed the failures of government monetary policy on the American frontier.
Associated EventCalifornia Gold Rush
Reason For MintingTo alleviate a severe shortage of small-denomination circulating coinage for daily commercial transactions in Gold Rush-era California.
Minter HistoryM. Deriberpe and Antoine Louis Nouizillet were prominent French jewelers and engravers operating in San Francisco during the Gold Rush. They were among the most prolific producers of 'Period One' California fractional gold. Their partnership is often identified by the initials 'D.N.' on some issues, though this specific variety, BG-422, only bears the 'D' initial for Deriberpe below Liberty's bust. These artisans were skilled metallurgists who responded to the critical economic need for small change. As the San Francisco Mint began full-scale operations, the legal and economic landscape shifted, and by 1856, these pioneering private minters had largely ceased their coining operations, disappearing from the numismatic record.
Historical SignificanceThe BG-422 is a tangible link to the commercial realities of the California Gold Rush, representing a period of private, unregulated minting that was essential for the region's economic function before the establishment of a federal branch mint. It exemplifies the ingenuity and entrepreneurial spirit of the era and is a key artifact of American pioneer and territorial numismatics.
K-Unlisted (Territorial Gold); BG-422 (California Fractional Gold)
Denomination50 Cents
Minting Period1853
Assayer/MinterAttributed to M. Deriberpe and Antoine Louis Nouizillet
Geographic OriginSan Francisco, California
Obverse DescriptionA head of Liberty, facing left, with a coronet or diadem in her hair. She is encircled by thirteen six-pointed stars, representing the original colonies. The initial 'D' for the engraver, Deriberpe, is located below the truncation of the neck.
Obverse InscriptionNo lettering on obverse; initial 'D' below bust.
Reverse DescriptionThe denomination '1/2' appears within a decorative wreath of leaves and berries. The inscription 'CALIFORNIA GOLD' encircles the top portion of the wreath, and the date '1853' is positioned below it.
Reverse InscriptionCALIFORNIA GOLD / 1853 / 1/2
CompositionGold
Stated Fineness Actual FinenessVariable, typically 0.880 to 0.900, often containing a natural silver alloy common to California gold.
Weight0.50 grams
Diameter11.00 mm
EdgePlain
Unknown, but very small.
Survival EstimateFewer than 30 known
Rarity ScaleR-6+ (Very Rare)
This variety is highly sought after by specialists in California fractional gold and territorial issues due to its extreme rarity (R-6+), its connection to a known Gold Rush-era engraver, and its status as a true circulating 'Period One' coin. Its simple, classic design and historical importance make it a prized collectible.
Key VarietiesThe primary variety is the regular strike BG-422. A key identifying feature of this variety is a distinct horizontal die crack that runs across the central portion of the reverse. No known contemporary patterns or restrikes exist. Later souvenir pieces and replicas are common for the series but are not considered part of the original minting period and are easily distinguished by experts.
Authentication TipsAuthentic examples must have the denomination clearly stated. Look for the 'D' initial below the bust. The most crucial diagnostic is the prominent horizontal die crack on the reverse, a feature noted on high-grade, certified examples. Counterfeits of this era are numerous; they often have a soapy, indistinct strike, incorrect weight or diameter, and may lack the denomination to circumvent counterfeiting laws. Be wary of pieces with tool marks, casting bubbles, or an unnatural, brassy color. Authentication by a major third-party grading service is highly recommended.
Shopping ConsiderationsA premium quality example for its grade will exhibit a bold strike, particularly on Liberty's portrait and the numbers in the date. Many Period One fractionals were crudely struck on wavy or uneven planchets; a relatively flat and well-formed planchet is a plus. Original, uncleaned surfaces are paramount. Look for a pleasing, original reddish or rose-gold toning, which is highly desirable and indicative of undisturbed surfaces. Luster can range from soft and satiny to semi-prooflike. Avoid examples that have been harshly cleaned, polished, or used in jewelry, as evidenced by scratches, rim damage, or solder marks. The presence of the reverse die crack is a positive confirmation of the variety.
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 issues of BG-422 were all business strikes intended for circulation. They are found in Circulated grades (AG-3 to AU-58) and, very rarely, in Mint State (MS, 60-70). No Proofs were struck during the original minting period. Any piece described as a 'Proof' would be a later-date fabrication or souvenir and not a genuine Period One fractional.
Mint State CharacteristicsAn uncirculated BG-422 will show uninterrupted luster, typically with a soft, satiny texture. The strike is often somewhat soft in the centers, but a well-struck example will show clear details in Liberty's hair and the wreath leaves. Due to the primitive minting process, even Mint State examples may exhibit planchet waviness or minor adjustment marks made before striking. Contact marks, even small ones, are common due to the softness of the gold and the way these tiny coins were handled and stored.
Circulated Wear PatternsWear first appears on the highest points: Liberty's cheek, the hair above her eye, and the coronet. On the reverse, the highest points of the wreath's leaves and the fraction '1/2' will show the first signs of friction. In lower grades (VG and below), the stars on the obverse will become faint, and the legends and date on the reverse will begin to merge with the fields.
Key Factors For ValueFor the BG-422, rarity is the primary driver of value. Beyond that, surface preservation is critical; an example with original, uncleaned 'skin' and attractive luster will command a significant premium over a cleaned or damaged coin of the same grade. Strike quality is also important; coins with sharp details on the portrait and wreath are more desirable. Eye appeal, enhanced by attractive original toning, plays a major role. Given the prevalence of counterfeits and replicas in this series, certification by PCGS or NGC is virtually essential for establishing authenticity and market value. A CAC sticker on a certified coin would indicate premium quality for the grade and add a further substantial premium.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 55 | $1,625.00 | 5 |
| 55+ | $1,625.00 | N/A |
| 58 | $1,775.00 | 3 |
| 58+ | $1,950.00 | N/A |
| 60 | $2,750.00 | N/A |
| 61 | $4,250.00 | N/A |
| 62 | $6,500.00 | 4 |
| 62+ | $7,250.00 | N/A |
| 63 | $9,500.00 | 3 |
| 63+ | $10,500.00 | N/A |
| 64 | $12,000.00 | 1 |