1873 G50C BG-1325 (Regular Strike)
Obverse & Reverse
The 1873 G50C BG-1325 is a quintessential example of a 'Period Two' California Fractional Gold piece, a fascinating and complex series born from California's unique monetary landscape. Following the initial Gold Rush boom, the United States Mint established a branch in San Francisco in 1854, which began alleviating the severe shortage of small-denomination coinage that had plagued local commerce. The earliest fractional gold coins, known as 'Period One' issues (1852-1858), were struck by jewelers and assayers to meet this genuine circulatory need. However, by the late 1850s, the federal mint's output had rendered these private issues largely obsolete for daily transactions. The Coinage Act of April 22, 1864, further complicated matters by officially outlawing private coinage. Despite this, demand for the charming, miniature gold pieces persisted, not as currency, but as souvenirs and keepsakes of the romanticized Gold Rush era. This gave rise to the 'Period Two' issues, struck from 1859 to 1882. Enterprising jewelers, such as the French firm Gaime, Guillemot & Co. of San Francisco, skillfully navigated the new legal landscape. They produced pieces dated within this period that were carefully designed to avoid being classified as illegal coinage. These tokens were typically underweight for their stated value and often used designs that mimicked, but did not directly copy, federal gold coinage. The BG-1325, with its Liberty head and wreath motif, was a product of this environment. It was never intended to pass as a half dollar in the marketplace but was instead sold to tourists, collectors, and locals as a memento. These jewelers' issues thrived in a legal gray area until the Secret Service finally cracked down on all private issues in the early 1880s, bringing the era of contemporary California Fractional Gold production to a close. Today, the BG-1325 is sought by specialists as a tangible link to post-Gold Rush San Francisco, representing a cottage industry that catered to the enduring mythology of the West.
Associated EventPost-Gold Rush Era Commerce & Souvenir Trade
Reason For MintingTo be sold as a souvenir or collectible commemorating the California Gold Rush, rather than for monetary circulation.
Minter HistoryGaime, Guillemot & Co. was a firm of French manufacturing jewelers and watchmakers active in San Francisco during the latter half of the 19th century. Like many skilled artisans, they were drawn to the immense wealth and opportunity of post-Gold Rush California. They operated from addresses on Montgomery and Sutter Streets, positioning themselves among the city's elite merchants. While their primary business was fine jewelry, watches, and silverware, they were also prominent manufacturers of Period Two California Fractional Gold pieces. Their creations are noted for their high-quality dies and consistent strikes, reflecting their professional skills. They produced a variety of denominations and designs, contributing significantly to the numismatic richness of the souvenir token era before ceasing production in the early 1880s due to increased federal pressure.
Historical SignificanceThe BG-1325 is historically significant not as a coin, but as a cultural artifact that demonstrates the commercialization of the Gold Rush legend. It marks the transition of fractional gold from a necessary medium of exchange to a nostalgic souvenir, illustrating how private minters adapted their products to a changing legal and economic environment. Its existence highlights a nearly 30-year period where private manufacturers in California continued a unique numismatic tradition long after the initial economic justification had vanished.
K-N/A
Denomination50 Cents
Minting Period1873
Assayer/MinterGaime, Guillemot & Co.
Geographic OriginSan Francisco, California
Obverse DescriptionA head of Liberty facing right, her hair is tied in a bun at the back. She is surrounded by thirteen stars, representing the original colonies. The date '1873' is positioned below the truncation of the neck. The portrait style is crude but distinct to this variety.
Obverse Inscription1873
Reverse DescriptionThe denomination '50 CENTS' is enclosed within a wreath of two olive branches tied with a ribbon at the bottom. The legend 'CALIFORNIA GOLD' is inscribed in an arc above the wreath.
Reverse InscriptionCALIFORNIA GOLD 50 CENTS
CompositionGold
Stated Fineness Actual FinenessTypically around .500 to .600 fine for Period Two issues, though not precisely documented for this variety.
Weight0.25 grams
Diameter10.00 mm
EdgePlain
Unknown; mintage records for private issues were not kept.
Survival Estimate13-30 coins known.
Rarity ScaleR-6
The BG-1325 is highly sought after by specialists in the California Fractional Gold series due to its high rarity (R-6) and its attribution to a known, quality maker, Gaime, Guillemot & Co. Its appeal lies in its clear connection to the souvenir trade of 1870s San Francisco, a distinct and fascinating chapter of American numismatics. Owning one is possessing a rare token of the romanticized Old West.
Key VarietiesThere are no major die varieties of the BG-1325 itself cataloged for the original minting period. The primary 'variety' distinction for collectors is between Period One (circulating), Period Two (contemporary souvenir), and Period Three (back-dated souvenir) issues. The BG-1325 is a definitive Period Two piece. No special collector issues, patterns, or restrikes are known to exist.
Authentication TipsAuthentic BG-1325 examples will exhibit a sharp, if somewhat crude, strike from well-made dies. The planchets are typically thin. A key diagnostic is the presence of the denomination '50 CENTS', as many later fakes and non-contemporary souvenirs omit a formal denomination to avoid legal issues. Look for a slightly soft, lustrous quality to the gold, which is often of lower fineness than federal issues. Modern replicas often have a brassy color, incorrect weight, and mushy details. Beware of pieces with a bear on the reverse, as no genuine 19th-century fractional gold features this motif. Professional third-party grading is highly recommended for this series.
Shopping ConsiderationsFor a premium quality BG-1325, look for an example with a sharp strike, especially on Liberty's hair details and the leaves in the wreath. Original, uncleaned surfaces are paramount; many of these tiny pieces were harshly cleaned or used as jewelry. A coin with undisturbed, slightly reddish-gold 'skin' commands a significant premium. Check for planchet problems like cracks, laminations, or significant voids, which can be common on these thin pieces but should be minimal on a choice example. Given its R-6 rarity, any example without significant damage is desirable, but focus on eye appeal and originality over the absolute grade. Avoid coins that have been holed, bent, or show evidence of being mounted in jewelry.
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 BG-1325 issues were business strikes produced for commercial sale as souvenirs, not for circulation. They are found in both Circulated (1-58) and Mint State (MS, 60-70) grades. Although not intended for circulation, some saw light handling, resulting in circulated examples. No Proof (PR/PF) examples were struck during the original period of issue, and no later-date Proof restrikes are known.
Mint State CharacteristicsAn uncirculated BG-1325 will exhibit frosty or satiny mint luster, though often with a slightly lower-karat sheen compared to federal gold. The strike can be variable; a well-struck example will show clear definition in Liberty's hair and the wreath's leaves, but some characteristic softness in peripheral lettering is common. Due to their small size and handling as souvenirs, even Mint State examples may show minor ticks or contact marks. A superior 'gem' example would be characterized by a bold strike, vibrant luster, and virtually mark-free surfaces.
Circulated Wear PatternsWear first appears on the highest points: Liberty's cheek, the hair above her ear, and the bun. On the reverse, the highest points of the wreath's leaves and the bow of the ribbon will show the first signs of friction. On lower grade examples (VF and below), the individual letters of 'CALIFORNIA GOLD' and the stars on the obverse will begin to merge with the fields.
Key Factors For ValueThe primary value drivers for a BG-1325 are rarity and condition. Given it is an R-6, any certified, problem-free example is valuable. Beyond the grade, surface quality is key; an example with original, attractive golden-orange toning and no evidence of cleaning, polishing, or jewelry mounting will fetch a substantial premium over a technically similar but less attractive piece. Strike quality is also critical; coins with fully struck central devices are highly prized. A CAC sticker for this issue would signify premium quality for the grade and add significant value.