1854 G50C BG-1309 (Regular Strike)
Obverse & Reverse
The 1854 G50C BG-1309 is a fascinating and complex piece within the broader series of California Fractional Gold. Unlike the 'Period One' (1852-1857) issues which were struck to alleviate a severe shortage of small change during the California Gold Rush, the BG-1309 is a 'Period Three' (ca. 1870-1883) issue. This places its creation in a dramatically different context. The initial gold rush frenzy had subsided, and the U.S. Branch Mint in San Francisco, opened in 1854, was in full production, supplying ample federal coinage for commerce. The acute need for privately minted fractional gold had vanished. Instead, these later-dated pieces were manufactured primarily as souvenirs and keepsakes for tourists and locals nostalgic for the romanticized 'Days of '49'. The BG-1309 specifically copies the design of an earlier, genuine 'Period One' coin, the BG-305, which was struck by the firm of Gaime, Guillemot & Co. The date '1854' on the BG-1309 is therefore backdated, a common practice for Period Three issues. This was done partly to evoke the Gold Rush era and partly to circumvent the Coinage Act of 1864, which made private coinage illegal. Minters of these souvenir pieces often used earlier dates to suggest their items were legal relics from the pre-1864 period. These pieces were struck with much less gold content relative to their face value than their Period One predecessors, functioning more as tokens than true circulating currency. They were produced by various anonymous jewelers in San Francisco, often with cruder manufacturing techniques than the earlier issues, though many still exhibit significant craftsmanship. The existence of these pieces highlights a shift from utilitarian coinage to commercial memorabilia, capturing the enduring mythology of the Gold Rush in a tangible, golden form for a new generation of Californians and visitors.
Associated EventCalifornia Gold Rush (Commemorative/Souvenir)
Reason For MintingPrimarily created as a souvenir or charm piece for the tourist trade, evoking the earlier Gold Rush era, rather than for circulation.
Minter HistoryThe specific minter of BG-1309 is unknown, a common trait for Period Three California Fractional Gold. These pieces were generally produced by various San Francisco jewelers who capitalized on the demand for Gold Rush memorabilia. They were not assayers in the traditional sense like the issuers of Period One coins but rather artisans and merchants. The original design it copies, BG-305, is attributed to Gaime, Guillemot & Company, French jewelers active in San Francisco during the 1850s.
Historical SignificanceThe BG-1309 is numismatically significant as a prime example of a 'Period Three' California Fractional Gold piece. It represents the commercialization of Gold Rush history and the transition of private gold from a necessary medium of exchange to a collectible souvenir. Its backdating and design mimicry are characteristic of the legal and economic realities facing private minters after the Coinage Act of 1864, making it a key piece for understanding the full lifecycle of this fascinating series.
N/A
Denomination50 Cents
Minting Periodca. 1870-1883
Assayer/MinterUnknown, likely various San Francisco jewelers
Geographic OriginSan Francisco, California
Obverse DescriptionFeatures a Liberty Head facing left, similar in style to the contemporary U.S. gold dollars. The portrait is surrounded by thirteen stars, representing the original colonies. The date '1854' is below the bust.
Obverse Inscription1854
Reverse DescriptionThe central device is the denomination '1/2' surrounded by a wreath of leaves and berries. The inscription 'CALIFORNIA GOLD' encircles the top portion of the wreath.
Reverse InscriptionCALIFORNIA GOLD 1/2
CompositionGold
Stated Fineness Actual FinenessVariable, but generally lower than Period One issues.
Diameter10.00 mm
EdgePlain
Unknown
Survival Estimate201-500 (per Breen-Gillio)
Rarity ScaleR-3
BG-1309 appeals to collectors specializing in the complete Breen-Gillio set of California fractionals, particularly those interested in the later souvenir issues. Its status as a copy of an earlier, rarer piece (BG-305) provides a compelling story and a more accessible price point for owning the popular 1854 octagonal design.
Key VarietiesThe primary variety is the regular gold strike. As a 'Period Three' piece, BG-1309 itself is a variety of an earlier design. Research by numismatists like Mike Locke has noted that some Period Three issues, which copy earlier designs, were made by individuals such as Herman Kroll. While no formal restrikes or patterns of BG-1309 are widely documented, collectors should be aware of contemporary counterfeits and modern replicas, which are common for this series.
Authentication TipsAuthentic BG-1309 pieces often have a slightly crude, handmade quality. Look for sharp, albeit sometimes uneven, details consistent with a die striking. The surfaces may exhibit a slightly granular texture. Counterfeits are rampant and often have a soft, cast appearance, incorrect weight, or a soapy luster. Comparison with high-resolution images of certified examples is essential. The specific die markers, such as the position of stars relative to the bust and the style of the numerals, are key to authentication.
Shopping ConsiderationsA premium quality example for its grade will possess a sharp strike, especially on the stars, date, and the details within the wreath. Original, uncleaned surfaces with some remaining luster are highly desirable. Many of these pieces were handled or used in jewelry, so look carefully for evidence of cleaning, scratches, rim damage, or solder marks. An example with a CAC sticker would command a significant premium, as it indicates superior quality and eye appeal for the assigned grade.
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 intended for souvenir sales, not circulation, though some may show wear from handling. They are found in Circulated (1-58) and Mint State (MS, 60-70) grades. No true Proofs were struck during the original manufacturing period. The term 'Prooflike' (PL) may be applied to business strikes that exhibit mirror-like surfaces from polished dies, which is occasionally seen on these jeweler's issues.
Mint State CharacteristicsUncirculated examples of BG-1309 often display a soft, satiny luster rather than a frosty one. The strike can be inconsistent; a well-struck piece will show clear definition in Liberty's hair and the wreath's leaves. Due to the small size and manufacturing process, planchet quality can be mediocre, sometimes showing minor striations or adjustment marks made before striking. Small, scattered contact marks are common and must be evaluated to determine the specific MS grade.
Circulated Wear PatternsWear from handling first appears on the highest points: Liberty's cheek, hairline, and the numerals of the date. On the reverse, the fraction '1/2' and the high points of the wreath will show the first signs of friction. In lower grades (VF and below), the stars will begin to merge with the fields and the legend will become less distinct.
Key Factors For ValueThe primary value drivers are grade and surface quality. An example with original, undisturbed surfaces will always be worth more than a cleaned or polished coin of the same grade. Strike sharpness is a major factor; a bold strike can command a premium over a softly struck example. Eye appeal, including attractive original gold toning, also plays a significant role. Certification by PCGS or NGC is standard for the series and crucial for market acceptance. A CAC sticker for this issue indicates superior quality and adds a substantial premium.