1870 25C BG-789 (Regular Strike)
Obverse & Reverse
The 1870 25 Cent piece, cataloged as Breen-Gillio 789, is a quintessential example of a 'Period Two' California Fractional Gold coin. Unlike the earlier 'Period One' issues (1852-1857), which were struck to genuinely alleviate a shortage of small denomination coinage during the initial frenzy of the Gold Rush, these later pieces were created for an entirely different purpose. By 1870, the San Francisco Mint was in full operation, and the acute need for private coinage had subsided. Instead, a thriving market for souvenirs and keepsakes had emerged, driven by tourism and a national fascination with the 'Wild West.' Anonymous jewelers in San Francisco capitalized on this by producing vast quantities of these charming but intrinsically deficient gold tokens. The Coinage Act of 1864 had explicitly forbidden private coinage, rendering the manufacture of these denominated pieces technically illegal. However, enforcement was lax, and the pieces were generally marketed as tokens or charms, allowing production to continue until a federal crackdown in the early 1880s. The BG-789 was part of this wave of 'suppressed jewelers' issues.' Struck from gold of inconsistent and often low fineness, they were significantly underweight and never intended to pass as legal tender at face value. Their purpose was to be sold at a premium to tourists or locals who used them in jewelry, as waistcoat pocket pieces, or sent them back East as affordable, glittering mementos of California. The crude but distinctive 'Goofy Head' portrait style of this variety is characteristic of the less refined engraving of the period, a departure from the more formal federal imitations of the 1850s. Today, the BG-789 is appreciated not as a coin of commerce, but as a tangible link to the post-Gold Rush era of California's development and its burgeoning identity as a tourist destination.
Associated EventCalifornia Gold Rush Aftermath & Tourism
Reason For MintingPrimarily created for the robust souvenir and jewelry market in post-Gold Rush San Francisco, not for monetary circulation.
Minter HistoryThe minters of most 'Period Two' California Fractional Gold pieces, including BG-789, are unrecorded. They were typically skilled but anonymous jewelers operating in San Francisco. These craftsmen used die-striking techniques to produce small gold tokens in large quantities for commercial sale. Unlike the known assayers of the 1850s who often initialed their work, these jewelers operated in a quasi-legal gray area and had no incentive to identify themselves on their products, thus avoiding the scrutiny of the U.S. Secret Service, which was tasked with suppressing private coinage.
Historical SignificanceThe BG-789 is significant as a representative of the shift in purpose for California Fractional Gold—from functional pioneer currency to commercial souvenir tokens. Its existence demonstrates the continued demand for gold novelties and the persistent, albeit technically illegal, private production of denominated tokens nearly two decades after the Gold Rush's peak.
BG-789
Denomination25 Cents
Minting Period1870
Assayer/MinterUnknown San Francisco Jeweler
Geographic OriginSan Francisco, California
Obverse DescriptionAn octagonal planchet featuring a crudely engraved Liberty Head portrait facing left. The portrait is often called the 'Goofy Head' by collectors due to its simplistic, almost cartoonish features, with a large nose and vacant expression. The hair is tied in a bun at the back. Thirteen stars, often weakly defined, encircle the portrait along the angled border.
Obverse Inscription1870
Reverse DescriptionThe denomination '25 CENTS' is displayed horizontally across two lines in the center. This is surrounded by a continuous wreath of leaves and berries, tied with a bow at the bottom. The legend 'CALIFORNIA GOLD' is inscribed outside the wreath, following the upper octagonal border.
Reverse Inscription25 CENTS / CALIFORNIA GOLD
CompositionGold
Stated Fineness Actual FinenessVariable, typically between 14 and 22 karats (.583 to .917 fine).
Weight0.25 grams
Diameter9.80 mm
EdgePlain
Unknown
Survival Estimate75-125 known examples
Rarity ScaleR-4
The BG-789 is popular with collectors for its charmingly crude 'Goofy Head' design, which gives it a unique character. As an R-4 variety, it is scarce but obtainable, making it a desirable target for specialists. It serves as an accessible entry point into the fascinating world of 'Period Two' California gold tokens.
Key VarietiesNo major die varieties of BG-789 are widely recognized by collectors. All issues are business strikes, and there are no known period Proofs or official later-date restrikes associated with this specific variety.
Authentication TipsGenuine examples often exhibit a somewhat soft or crude strike, particularly on the stars and the fine details of the wreath. The 'Goofy Head' portrait has a very distinct style; be wary of replicas with sharper, more modern-looking engraving. The gold content is often low, resulting in a paler or slightly brassy color compared to federal gold. Authentication by a major third-party grading service is highly recommended, as the market is plagued by modern, gold-plated brass replicas which are often larger and lighter than genuine pieces.
Shopping ConsiderationsWhen acquiring a BG-789, prioritize examples with a sharp, well-centered strike. Look for specimens where the date and the denomination are fully readable. High-quality examples will retain some original mint luster, often with a slightly prooflike or flashy surface. Common issues to avoid are cleaning, which imparts a dull, lifeless appearance with hairline scratches, and evidence of jewelry mounting, such as solder marks or rim damage. A premium quality piece for its grade will possess strong eye appeal, be free from distracting marks on the obverse portrait, and exhibit problem-free surfaces.
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 examples of BG-789 were all business strikes intended for commercial sale as souvenirs. They are found in Circulated (1-58) and Mint State (MS, 60-70) grades. No true Proof (PR/PF) examples were struck during the original period of issue. However, due to the striking process and fresh dies, some examples may exhibit reflective surfaces and receive a 'Prooflike' (PL) or 'Deep Prooflike' (DPL) designation from grading services, though they are not true Proofs.
Mint State CharacteristicsIn Mint State, the BG-789 often presents with a soft, satiny luster. The strike is frequently weak in the center of both the obverse and reverse, with the highest points of Liberty's hair and the denomination sometimes showing flatness. The small planchet is susceptible to contact marks, even on uncirculated examples. Top-quality MS specimens are prized for their sharp strikes, clean surfaces, and vibrant luster.
Circulated Wear PatternsWear first appears on the high points of Liberty's cheek, hair above the eye, and the bun. On the reverse, the highest leaves of the wreath and the numbers of the denomination will show initial friction. In lower grades (VF and below), the stars will begin to merge with the border and the finer details of the wreath will be completely worn away.
Key Factors For ValueThe primary drivers of value for this coin are grade and surface quality. An example with original, uncleaned surfaces and some remaining luster will command a significant premium over a cleaned or damaged piece of the same grade. Strike quality is also critical; a sharply struck coin with full details is far more desirable than a typically soft strike. Eye appeal, encompassing attractive toning and minimal distracting marks, is a key consideration. The presence of a CAC sticker, indicating premium quality for the grade, adds a substantial premium for this issue.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 50 | $250.00 | 1 |
| 50+ | $260.00 | N/A |
| 53 | $275.00 | N/A |
| 53+ | $285.00 | N/A |
| 55 | $300.00 | 3 |
| 55+ | $325.00 | N/A |
| 58 | $350.00 | 5 |
| 58+ | $375.00 | N/A |
| 60 | $400.00 | 2 |
| 61 | $425.00 | 5 |
| 62 | $475.00 | 33 |
| 62+ | $525.00 | N/A |
| 63 | $650.00 | 21 |
| 63+ | $725.00 | N/A |
| 64 | $850.00 | 11 |
| 64+ | $1,150.00 | N/A |
| 65 | $2,000.00 | 2 |
| 65+ | $2,250.00 | N/A |
| 66 | $3,150.00 | 3 |