1876 G25C BG-799E, PL (Regular Strike)
Obverse & Reverse
The BG-799E is a quintessential example of a 'Period Two' California Fractional Gold piece, a fascinating series born from the entrepreneurial chaos of the California Gold Rush. The initial period of fractional gold (1852-1857) arose from a genuine and severe shortage of small-denomination coinage for daily commerce. Miners with pouches full of gold dust had no practical way to pay for a drink or a meal. Jewelers and metalsmiths in San Francisco stepped into this monetary void, striking minuscule but functional quarter-dollar, half-dollar, and dollar coins from native gold. However, by 1858, the San Francisco Mint was in full operation, alleviating the small-change crisis. The utility of the tiny, easily lost gold pieces waned, but a new market emerged. These miniature gold coins had become popular keepsakes and souvenirs, tokens of the 'Wild West' that could be easily mailed or pinned to clothing. This ushered in 'Period Two' (1858-1882), during which the pieces were struck not as currency, but as novelties for the tourist and jewelry trade. The BG-799E, with its prominent Indian Head design and octagonal shape, was crafted to appeal to this romantic vision of the West. Unlike their Period One predecessors, these 'jeweler's issues' were often underweight and made of debased gold, as their value was in their novelty, not their intrinsic content. The Coinage Act of 1864 technically forbade private coinage, but enforcement was lax in the West until the Secret Service finally cracked down in 1883, ending the era. The BG-799E is a die marriage from this later period, notable for its 1878/6 overdate, a practice common among these minters who would reuse and re-punch older dies to continue production. Its extreme rarity today suggests a very small original mintage, likely struck for a limited clientele before the dies were retired.
Associated EventCalifornia Gold Rush (Later Souvenir Period)
Reason For MintingTo serve the growing tourist and jewelry market with souvenir gold tokens reminiscent of the earlier Gold Rush coinage.
Minter HistoryThe specific makers of most Period Two fractional gold pieces, including the BG-799E, are lost to history. They are generally attributed to various anonymous San Francisco jewelers and metalsmiths who capitalized on the demand for gold souvenirs. These artisans operated small, private workshops, using hand-operated presses or even hammer-striking methods to produce the tiny coins. Unlike the assayers of the larger gold bars and coins, they rarely signed their work, leaving behind a legacy of fascinating but often anonymous numismatic art.
Historical SignificanceThe BG-799E represents the commercial evolution of the California Gold Rush from a frantic search for wealth to a romanticized national event. These pieces were no longer essential tools of commerce but were among the first true numismatic souvenirs of the American West, capturing the spirit of the era for a wider audience. They are tangible links to the tourism and trade that grew up around the gold fields, and their study reveals important details about private minting practices, die reuse, and the transition of a regional necessity into a national novelty.
BG-799E
Denomination25 Cents
Minting Period1878
Assayer/MinterUnknown San Francisco Jeweler(s)
Geographic OriginSan Francisco, California
Obverse DescriptionFeatures a stylized Indian Head facing left, a popular motif for the era. The portrait is adorned with a feathered headdress. Thirteen stars, representing the original colonies, encircle the portrait along the octagonal border.
Obverse Inscription[None]
Reverse DescriptionA simple wreath composed of two branches tied with a bow at the bottom. The denomination '1/4' is in the center, and the word 'DOL.' (an abbreviation for Dollar) appears below the fraction. The date is located at the top, within the wreath's opening.
Reverse Inscription1878/6 / 1/4 / DOL.
CompositionGold
Stated Fineness Actual FinenessVariable, typically lower than Period One issues and often below coinage standard.
EdgePlain
Extremely low, likely less than 100.
Survival EstimateFewer than 10; possibly in the 4-6 range.
Rarity ScaleHigh R-7
This variety is highly sought after by specialists in California fractional gold due to its extreme rarity and its status as a clear 1878/6 overdate, a prized characteristic. The octagonal Indian Head design is iconic within the series, and the Proof-Like (PL) designation adds significant eye appeal.
Key VarietiesThe primary variety is the 1878/6 overdate itself, which defines the BG-799E attribution. Careful examination of the date shows clear remnants of the digit '6' underneath the final digit '8'. There are no known major restrikes or special collector issues for this specific variety; all known examples are considered original business strikes from the period.
Authentication TipsAuthentication requires careful comparison with known genuine examples. Look for the characteristic softness of a genuine strike on a small, thin planchet; modern fakes are often overly sharp and flat. The style of the Indian head and the lettering must match the known BG-799 die. For the BG-799E specifically, the overdate is the key diagnostic; its appearance should be natural, not tooled. Many replicas exist; a common red flag is the presence of a bear on the reverse, which never appeared on genuine period issues. Third-party grading by a reputable service like PCGS or NGC is highly recommended.
Shopping ConsiderationsFor a coin of this rarity, any example is a major acquisition. A 'premium quality' specimen would be one that is well-centered and sharply struck for the issue, particularly on the portrait's feathers and the numbers in the date. The key is to find an example with original, undisturbed surfaces; many have been cleaned or used as jewelry. Look for proof-like, reflective fields, as indicated by the 'PL' designation. Avoid examples with scratches, rim bumps, or evidence of having been mounted. The clarity and prominence of the 1878/6 overdate can also add 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 period issues were business strikes, although intended as souvenirs rather than for circulation. They are found in Circulated (1-58) grades, though this is uncommon, and more frequently in Mint State (MS, 60-70) grades due to their souvenir nature. No true Proofs were struck during the original period. The 'PL' (Proof-Like) designation is given to business strikes that exhibit highly reflective, mirror-like surfaces from polished dies, and these are especially desirable.
Mint State CharacteristicsUncirculated examples of BG-799E often exhibit proof-like or deep mirror proof-like surfaces. The strike can be uneven, with some softness on the highest points of the Indian's cheek or the wreath, a common result of the crude minting technology used. The luster is typically flashy and reflective rather than satiny. Small planchet flaws or adjustment marks are not uncommon and should be assessed for their impact on eye appeal. Contact marks, even small ones, can be distracting on the mirrored fields and will significantly affect the grade.
Circulated Wear PatternsOn circulated examples, wear first appears on the high points of the design: the cheek and feathers of the Indian Head on the obverse, and the leaves and bow of the wreath on the reverse. As wear progresses, the fine details of the feathers will merge, and the numerals in the date and fraction will begin to soften and fade.
Key Factors For ValueFor the BG-799E, value is driven by three main factors: 1) Absolute Rarity: As a High R-7 variety, its mere existence commands a high premium. 2) Grade: Higher Mint State grades (MS-63 and above) are exponentially more valuable. 3) Surface Quality: The presence of proof-like (PL) or deep mirror proof-like (DMPL) fields significantly increases value and eye appeal. A CAC sticker, indicating premium quality for the grade, would add a substantial premium for this issue.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 64 | $3,750.00 | N/A |
| 64+ | $4,500.00 | N/A |
| 65 | $5,250.00 | N/A |