(No Date) G50C BG-1316 (Regular Strike)
Obverse & Reverse
The BG-1316 is a fascinating and enigmatic product of the final phase of California Fractional Gold production, known to numismatists as 'Period Three' (ca. 1883-early 1900s). Unlike its predecessors from Period One (1852-1857), which were struck to alleviate a genuine shortage of small change during the Gold Rush, the BG-1316 was never intended for circulation. Its creation stems from the consequences of the Coinage Act of April 22, 1864, which outlawed private coinage. While enforcement was initially lax, by the early 1880s the U.S. Secret Service, under its zealous chief James J. Brooks, began a serious crackdown on the jewelers and private minters still producing these popular gold souvenirs. This federal pressure drove the industry underground. To circumvent the law, makers of Period Three pieces resorted to subterfuge. They intentionally omitted the word 'DOLLAR' or 'CENTS,' often using ambiguous terms like 'CALIFORNIA GOLD' with a fractional denominator (e.g., '1/2'). More critically, they almost universally employed backdating, using dies with dates from the 1850s, '60s, or '70s—or, as in the case of BG-1316, no date at all—to create the illusion that their products were legal, pre-existing pieces. These were not coins, but clandestine tokens made for the jewelry and souvenir trade, sold to tourists and collectors who remained fascinated by the romance of the Gold Rush. The actual gold content of these pieces was often minimal and their quality varied, as their purpose was novelty rather than monetary utility. The identity of the minter behind BG-1316 is lost to history, a common fate for these secretive operations. While some Period Three issues have been tentatively attributed to makers like Herman Kroll of New York City, no definitive link exists for this specific variety. The BG-1316 represents the twilight of a uniquely American enterprise, a numismatic echo of the Gold Rush era that persisted for decades after the original need had vanished, forced into the shadows by federal law.
Associated EventPost-Gold Rush Souvenir Trade & Federal Prohibition of Private Coinage
Reason For MintingTo create a Gold Rush souvenir that would evade federal laws prohibiting private coinage by being undated and omitting a legal tender denomination.
Minter HistoryThe minter of BG-1316 is unknown. Period Three fractional gold pieces were produced clandestinely by various jewelers and minting operations after the Secret Service began suppressing the industry in the early 1880s. To avoid prosecution, these makers operated anonymously and deliberately left their identifying marks off their products.
Historical SignificanceBG-1316 is significant as an artifact of 'Period Three' production, illustrating how private minters adapted to federal prohibition by creating anonymous, undated, and denomination-less tokens to satisfy the persistent collector and tourist demand for California Fractional Gold.
N/A
Denomination50 Cents (G50C)
Minting Periodca. 1883-1903
Assayer/MinterUnknown
Geographic OriginLikely San Francisco, California or elsewhere in the United States
Obverse DescriptionFeatures a small, crudely rendered Indian Head facing left, surrounded by thirteen stars. The portrait style is typical of the later, less refined souvenir pieces.
Obverse Inscription Reverse DescriptionA simple wreath composed of two branches tied with a bow at the bottom. Inside the wreath is the fraction '1/2'.
Reverse Inscription1/2
CompositionGold
Stated Fineness Actual FinenessOften low, variable fineness, typically less than .500 fine.
Weight0.24 grams
Diameter10.00 mm
EdgePlain
Unknown
Survival EstimateFewer than 100 believed to exist.
Rarity ScaleR-6
BG-1316 appeals to specialists completing Breen-Gillio variety sets of California Fractional Gold. Its status as a clandestine, undated 'Period Three' issue makes it a historically interesting piece that tells the final chapter of the fractional gold story.
Key VarietiesAs a 'Period Three' token, the BG-1316 itself is a later, derivative issue. There are no known major varieties, patterns, or official restrikes from the original minting period. All examples are considered business strikes for the souvenir market. Collectors should be aware that the term 'restrike' is complex in this series, as many Period Three issues use old or copied dies, making the distinction between an 'original' and a 'contemporary restrike' numismatically blurry.
Authentication TipsAuthentic examples often have a crude, somewhat soft strike. The surfaces can be slightly irregular. Look for the correct die markers and compare against known genuine examples. Modern counterfeits are plentiful; many are brassy in color, have a soapy or prooflike sheen unlike originals, and may feature incorrect design details, lettering styles, or weight. Given the high rarity and frequency of fakes, third-party authentication is highly recommended.
Shopping ConsiderationsA premium quality example for this issue would be one that is well-centered and sharply struck for the type, as strikes are often weak. Seek out pieces with pleasing, original coloration and minimal surface marks. Avoid coins that have been harshly cleaned, which will appear unnaturally bright and show hairlines under magnification. Evidence of jewelry mounting, such as solder marks or rim damage, is common with these souvenir pieces and should be carefully checked for; such damage significantly reduces value.
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 BG-1316 issues are considered business strikes (circulated grades 1-58 and Mint State 'MS' 60-70) produced for the souvenir market, not for circulation. No proofs were struck during the original period of manufacture, and there are no known later-date, authorized Proof restrikes. Any piece described as a 'Proof' is likely a modern copy or has been misattributed.
Mint State CharacteristicsUncirculated examples of BG-1316 typically exhibit a soft, satiny luster rather than a hard, frosty one. The strike is characteristically weak, especially on the high points of the Indian's portrait and the details of the wreath. Small planchet flaws or adjustment marks are not uncommon. Contact marks, while still a factor, are judged with the understanding that these were produced with less care than federal coinage.
Circulated Wear PatternsAlthough not intended for circulation, some pieces saw handling as pocket pieces or jewelry. Wear first appears on the high points of the Indian's cheek and headdress feathers. On the reverse, the bow and the leaves of the wreath will show initial friction and flattening. In lower grades, the stars and the fraction will become faint.
Key Factors For ValueFor BG-1316, value is driven primarily by rarity and grade. Surface quality is paramount; an example with original, undisturbed luster and minimal marks will command a significant premium over a cleaned or damaged piece of the same grade. Strike clarity is another key factor; specimens with unusually sharp details on the portrait and wreath are highly desirable. Finally, eye appeal, including attractive original gold toning, can substantially influence market value. A CAC sticker would provide further assurance of quality for the grade and would be a significant value-add for this variety.