1881 25C BG-799N (Regular Strike)
Obverse & Reverse
The 1881 BG-799N Quarter Dollar is a product of the second phase of California Fractional Gold production, known as 'Period Two' (1859-1882). Unlike the 'Period One' issues, which were struck out of genuine commercial necessity to alleviate a severe shortage of small change during the initial Gold Rush, these later pieces were created primarily as souvenirs and keepsakes. By the 1880s, the United States Mint in San Francisco was producing ample federal coinage for circulation, rendering private issues for commerce obsolete. However, the allure of the Gold Rush was a powerful marketing tool. San Francisco jewelers capitalized on this by manufacturing these tiny, denominated gold tokens for the robust tourist trade and for locals who cherished them as mementos of a now-legendary era. The Coinage Act of April 22, 1864, had technically outlawed all private coinage, but the law was not strictly enforced by the Secret Service until 1883. This legal gray area allowed for the continued production of pieces like the BG-799N, which bore a denomination ('25 CENTS') and resembled currency. The manufacturers of these souvenir pieces were numerous and often anonymous, their identities lost to history, though many were French jewelers who had come to California during the rush. These tokens were typically made of gold of a lower fineness than federal issues and were often underweight, as their purpose was novelty rather than monetary circulation. Despite their souvenir status, they are an integral part of the numismatic story of the American West, representing the long tail of the Gold Rush's cultural and economic impact. Today, they are highly sought after for their charm, variety, and direct connection to one of the most dynamic periods in U.S. history.
Associated EventPost-Gold Rush California Tourism
Reason For MintingTo serve as a souvenir of the California Gold Rush for the tourist trade and local collectors.
Minter HistoryThe specific minter of the BG-799 series is unknown, as was common for many Period Two California Fractional Gold producers. These pieces were generally struck by various jewelers operating in San Francisco. While some makers of other varieties are known (e.g., Robert B. Gray & Co., Frontier & Deviercy), the dies for BG-799 have not been positively attributed. Evidence suggests the dies for similar varieties were cut by San Francisco engravers like Christopher Ferdinand Mohrig, but a definitive link to this specific variety has not been established.
Historical SignificanceThis coin represents the transition of California Fractional Gold from a necessary circulating medium to a commercial souvenir. It's a tangible artifact from the era when the Gold Rush mythos was being codified and sold, demonstrating the sustained national fascination with the West long after the initial frenzy had passed. Its existence is a testament to a legal loophole that allowed private minting to persist for two decades after being outlawed.
BG-799N
Denomination25C
Minting Period1881
Assayer/MinterUnknown San Francisco Jeweler
Geographic OriginSan Francisco, California
Obverse DescriptionAn Indian Head profile facing left, wearing a feathered headdress. The portrait is encircled by 13 five-pointed stars. The date '1881' is positioned below the bust.
Obverse Inscription1881
Reverse DescriptionThe denomination '25 CENTS' is enclosed within a wreath of two olive branches tied with a bow at the bottom. The legend 'CALIFORNIA GOLD' would typically encircle the wreath, however some varieties of this type omit 'CAL.' or 'CALIFORNIA'.
Reverse Inscription25 CENTS
CompositionGold
Stated Fineness Actual FinenessVariable, generally lower than the 0.900 standard of federal coinage.
Weight0.24 grams
Diameter9.60 mm
EdgePlain
Unknown
Survival Estimate13-30
Rarity ScaleR-6
The BG-799N is prized for its octagonal shape, Indian Head design, and its status as a late-date, denominated souvenir issue. It embodies the charm and historical allure of the California Gold Rush era. As with all Cal Gold, its minuscule size is a source of fascination. The R-6 rarity ensures it is a significant prize for specialists in the series.
Key VarietiesBG-799N is itself a specific die variety within the broader BG-799 catalog number, which includes several different die pairings (e.g., BG-799D, BG-799F, BG-799X) from the 1870s and early 1880s. No later-date Proof restrikes are known to have been made from these specific dies. Collectors should be aware of the vast number of modern, non-denominated replicas and fantasy pieces that are often confused with genuine Period Two issues.
Authentication TipsA genuine BG-799N must be denominated; it will have '25 CENTS' or a similar marking. Replicas made after 1882 often omit a denomination to comply with the law, stating '1/4 CAL GOLD' instead. Genuine pieces are typically very thin, about the thickness of a business card. Due to crude, hammered striking methods, originals may exhibit areas of weakness or have a slightly uneven surface. Replicas are often thicker, have a soapy or cast-like appearance, and may show a coppery core where the gold plating has worn. Any piece with a bear on the reverse is a 20th-century token, not a genuine 19th-century fractional gold coin.
Shopping ConsiderationsFor a premium quality BG-799N, a buyer should seek an example with a sharp, well-centered strike, particularly on the Indian's headdress and the details of the wreath. While some inherent striking weakness is common, pronounced details command a higher price. Original, lustrous surfaces are highly desirable; many surviving examples have been cleaned, polished, or used as jewelry. Look for undisturbed 'skin' and avoid pieces with harsh cleaning lines, excessive marks, or evidence of being holed and plugged. Proof-like (PL) or Deep Mirror Proof-like (DMPL) examples are occasionally found in this series and are considered top-tier, commanding significant premiums.
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 1881 issues were business strikes, although not intended for widespread circulation. They are found in both Circulated (1-58) and Mint State (MS, 60-70) grades. No true Proofs were struck during the original period of issue for this variety. Any piece described as a 'Proof' is likely a high-quality, proof-like business strike (PL/DMPL) from polished dies, which is a desirable characteristic but distinct from a true Proof striking.
Mint State CharacteristicsAn uncirculated BG-799N is defined by the presence of original mint luster. The luster is typically satiny and can sometimes be deeply reflective, earning a Proof-like (PL) designation. Strikes are characteristically inconsistent; a fully sharp strike is rare and highly valued. Many Mint State examples will show some planchet roughness or minor unstruck areas due to the crude manufacturing process. Small, scattered contact marks are common and must be assessed to determine the specific grade from MS-60 to MS-67.
Circulated Wear PatternsWear first appears on the highest points of the design. On the obverse, this includes the Indian's cheek, brow, and the feathers of the headdress. On the reverse, the high points of the leaves in the wreath and the bow will show initial friction. On lower grade examples (VF and below), the stars on the obverse will begin to merge with the fields and the finer details of the wreath will be lost.
Key Factors For ValueBeyond the numerical grade, value is driven by three main factors. First, surface quality is paramount; an example with original, uncleaned surfaces and minimal distracting marks is far more valuable than a cleaned or polished one of the same grade. Second, the sharpness of the strike significantly impacts value, with well-struck examples commanding large premiums. Finally, eye appeal, which includes factors like attractive original toning and proof-like surfaces, can make one coin much more desirable than another. A CAC sticker for this issue indicates premium quality for the grade and will add a significant premium.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 61 | $375.00 | 1 |
| 62 | $450.00 | N/A |
| 62+ | $475.00 | N/A |
| 63 | $550.00 | 4 |
| 63+ | $600.00 | N/A |
| 64 | $800.00 | 3 |
| 64+ | $900.00 | N/A |
| 65 | $1,250.00 | 7 |
| 65+ | $1,750.00 | N/A |
| 66 | $4,750.00 | 2 |
| 68 | N/A | N/A |