1858 G50C BG-1324 (Regular Strike)
Obverse & Reverse
The 1858 G50C BG-1324 is a product of the second phase of California Fractional Gold production, a fascinating and complex chapter in American numismatics. The initial 'Period One' (1852-1857) issues were struck out of genuine commercial necessity. The California Gold Rush had flooded the region with gold dust and nuggets, but the federal government was slow to establish a mint and provide adequate small denomination coinage for daily transactions. Private minters and jewelers stepped into this void, creating quarter, half-dollar, and dollar pieces from native gold to facilitate trade. These early issues, though often underweight, were generally accepted and served their purpose. By 1858, the context had shifted dramatically. The San Francisco Mint, which opened in 1854, was in full operation, alleviating the acute shortage of small change. Consequently, the impetus for striking fractional gold for circulation vanished. The pieces struck from 1858 through 1882, classified as 'Period Two' issues, were created for a different purpose: to be sold as souvenirs, keepsakes, and jewelry items for tourists and locals captivated by the romance of the Gold Rush. The BG-1324, dated 1858, is one of the earliest examples of this new paradigm. These 'jeweler's issues' were often more crudely engraved and struck than their Period One predecessors and were frequently underweight, containing less gold than their face value implied. Many Period Two pieces were produced by French jewelers who had set up shop in San Francisco. The Coinage Act of 1864 officially prohibited private coinage, but the law was not strictly enforced against these small souvenir pieces until the early 1880s, allowing their production to continue for over two decades. The BG-1324 and its contemporaries represent a transition from utilitarian necessity-money to commercial memorabilia, capturing the enduring legacy of the Gold Rush in a tangible, miniature form.
Associated EventCalifornia Gold Rush Aftermath
Reason For MintingPrimarily struck as a souvenir or keepsake of the California Gold Rush, rather than for circulation.
Minter HistoryThe specific minter or jeweler responsible for the BG-1324 variety is not definitively known, a common trait for many Period Two California Fractional Gold issues. Production during this era was decentralized among various San Francisco jewelers who often used generic or copied designs. Prominent Period Two manufacturers included figures like Deriberpe, Nouizillet, Frontier, and Deviercy, but a direct attribution for this specific die marriage has been lost to history.
Historical SignificanceThis coin is significant as an early example of a 'Period Two' issue, marking the shift in purpose for California Fractional Gold from necessity-based currency to commercial souvenir. It reflects the burgeoning tourism in San Francisco and the public's romantic fascination with the Gold Rush, even as the era of placer mining waned.
Not Applicable
Denomination50 Cents
Minting Period1858
Assayer/MinterUnknown Private Minter
Geographic OriginSan Francisco, California
Obverse DescriptionA Liberty Head motif, typical of the series. The portrait is usually depicted facing left, wearing a coronet inscribed with 'LIBERTY,' and surrounded by thirteen stars representing the original colonies. The date '1858' appears below the bust. The quality of the engraving on Period Two issues like this can be less refined than on federal coinage.
Obverse InscriptionLIBERTY
Reverse DescriptionA wreath, composed of two branches tied with a bow at the bottom, encircles the denomination. The legend 'CALIFORNIA GOLD' is typically inscribed around the wreath.
Reverse InscriptionCALIFORNIA GOLD 50 CENTS
CompositionGold
Stated Fineness Actual FinenessVariable, but generally lower than federal standards and often below their stated face value in intrinsic worth.
EdgePlain
Unknown
Survival EstimateLikely fewer than 50
Rarity ScaleR-6
The appeal of BG-1324 lies in its status as a historic artifact from the post-Gold Rush era of San Francisco. As a Period Two piece, it is part of a diverse and complex series with hundreds of varieties. Collectors are drawn to the challenge of attribution, the miniature artistry, and the direct connection to one of America's most foundational economic and social events. Its high rarity makes any surviving example a prized possession.
Key VarietiesThe primary variety is the BG-1324 die marriage itself. Within the broader series, there are no known special collector issues like Proofs or restrikes specifically for BG-1324. The entire Period Two series (1858-1882) is considered a distinct collecting area from the Period One circulating issues (1852-1857).
Authentication TipsAuthentication requires comparison to known genuine examples, as counterfeits exist. Look for the correct die markers and overall fabric characteristic of mid-19th century private strikes. Period Two pieces often have a slightly crude, handmade look. The lettering and stars can be irregularly spaced. Many modern fakes are brassy in color, have a soapy or cast-like texture, or feature incorrect design elements, such as bears on the reverse, which were never on genuine denominated issues. Genuine pieces must have a denomination (e.g., 'CENTS' or 'DOLLAR').
Shopping ConsiderationsWhen buying a BG-1324, focus on surface originality and strike. A premium quality example would be well-struck for the issue, with clear details on Liberty's hair and the wreath's leaves. Look for original, undisturbed luster, which is often semi-prooflike on these jeweler's issues. Avoid examples that have been harshly cleaned, polished, or show evidence of being mounted in jewelry (solder marks, excessive rim damage), a common fate for these pieces. Eye appeal is paramount; attractive, original toning can add significantly to the coin's 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 TypesOriginal issues were business strikes, but unlike Period One coins, they were not intended for extensive circulation and were sold as souvenirs. They are found in both Circulated (1-58) and Mint State (MS, 60-70) grades, with Mint State examples being more common than for Period One issues. No true Proofs were struck during the original minting period. The semi-prooflike surfaces often seen are a result of polished dies used for creating attractive souvenirs, not a special striking process.
Mint State CharacteristicsUncirculated examples of Period Two half dollars often exhibit a weak or uneven strike, a result of being produced by hand-operated presses or hammer striking. The central devices, such as the details of Liberty's hair and the wreath, may be soft. Luster is typically flashy and reflective (prooflike) due to the jewelers' use of polished dies to enhance their appeal as keepsakes. Bag marks are less common than on federal coinage; instead, look for small handling marks or friction from years of storage in jewelry boxes or cabinets.
Circulated Wear PatternsWear first appears on the highest points of the design: Liberty's coronet, cheek, and hair curls around the ear. On the reverse, the high points of the wreath's leaves and the bow will show the first signs of friction. On lower grade examples, the stars and legends will begin to merge with the fields.
Key Factors For ValueFor the BG-1324, value is driven primarily by rarity and grade. Surface quality is crucial; an example with original, lustrous surfaces will command a significant premium over one that has been cleaned or polished. Strike sharpness is also key; coins with a bold strike on both the obverse and reverse are highly desirable. Finally, eye appeal plays a major role. Pieces that avoided being used as jewelry and retain their original character are the most sought-after by serious numismatists. A CAC sticker would provide strong validation of quality for the assigned grade.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 63 | N/A | 1 |