(1870-1) G25C BG-834 (Regular Strike)
Obverse & Reverse
The BG-834 25 Cents is a product of the second period of California Fractional Gold, often termed the 'Jeweler's Period' (1859-1882). Unlike the initial issues of 1852-1857, which were struck to genuinely alleviate a shortage of small change during the Gold Rush, these later pieces served a different purpose. By the 1870s, the United States Mint in San Francisco was in full operation, and the acute need for circulating small-denomination gold had subsided. Instead, these tiny gold pieces became popular as souvenirs, keepsakes, and jewelry items, eagerly purchased by tourists and locals alike as mementos of the romanticized Gold Rush era. The Coinage Act of 1864 had made private coinage illegal, but enforcement was lax, particularly for items not aggressively passed as currency. To circumvent the law, minters of this period often used ambiguous designs, omitted the word 'DOLLAR,' and sometimes backdated their pieces. The BG-834, being undated but attributed to 1870-1871, falls squarely into this fascinating and legally gray chapter of American numismatics. These 'jeweler's issues' were lighter and often of lower fineness than their Period One predecessors, as their value was in their novelty rather than their metallic content. Production was often crude, employing the hammer strike method where dies were struck by hand, leading to significant variations in strike quality. The Secret Service finally cracked down on private minters in 1883, bringing an end to the production of denominated fractional gold and forcing manufacturers to switch to non-denominated tokens. The BG-834 is a tangible link to this later, more commercialized phase of the California Gold phenomenon, representing a transition from utilitarian coinage to a cherished collectible.
Associated EventPost-Gold Rush California Tourism & Commerce
Reason For MintingPrimarily created to serve the growing demand for souvenirs and jewelry items, rather than to alleviate a coinage shortage.
Minter HistoryThe specific minter of BG-834 is unknown, a common trait for Period Two fractionals. Production during this time was dominated by a community of jewelers and metalworkers in San Francisco, such as Frontier, Deviercy & Co., Antoine Louis Nouzillet, and M. Deriberpie, who often created the pieces anonymously or with simple initials to avoid legal scrutiny from the U.S. government. These craftsmen operated on a small scale, producing a wide variety of designs to appeal to the souvenir trade.
Historical SignificanceBG-834 is significant as a representative of the 'Jeweler's Issue' period of California Fractional Gold. It illustrates the evolution of these pieces from quasi-circulating currency to popular souvenirs, and reflects the legal environment following the Coinage Act of 1864 which suppressed, but did not eliminate, private minting. Its existence highlights a numismatic gray area where commerce, nostalgia, and legal ambiguity converged.
N/A
Denomination25 Cents
Minting Period1870-1871
Assayer/MinterUnknown, likely various San Francisco jewelers
Geographic OriginSan Francisco, California
Obverse DescriptionA Liberty Head facing left, modeled after contemporary U.S. gold coinage. The portrait is surrounded by thirteen stars, representing the original colonies.
Obverse Inscription Reverse DescriptionA simple wreath surrounds the denomination '1/4'. The letter 'G' for the minter is not present on this variety.
Reverse Inscription1/4
CompositionGold
Stated Fineness Actual FinenessVaries, typically between 14k and 22k gold, often lower than Period One issues.
Weight0.25 grams
Diameter9.00 mm
EdgePlain
Unknown; likely a few thousand.
Survival Estimate75-125
Rarity ScaleR-5+
This variety appeals to collectors due to its affordability relative to Period One issues, its classic Liberty Head design, and its status as a genuine, denominated Gold Rush-era piece. It is a popular type coin for those building sets of California Fractional Gold.
Key VarietiesThe primary reference is the Breen-Gillio catalog, where this is designated BG-834. No major varieties from the original minting period are known. Unlike some other private gold series, there are no known official or semi-official restrikes. However, the entire field of California Fractional Gold is plagued by a vast number of contemporary counterfeits and modern replicas, often made of brass or gold-plated base metal. Genuine pieces must be carefully attributed using the Breen-Gillio reference.
Authentication TipsGenuine BG-834 pieces have specific die characteristics. A key diagnostic is the positioning of the '1' and '4' relative to the wreath. The strike is often somewhat soft, particularly in the center. Modern replicas are often sharply struck, have a soapy or artificial luster, and incorrect weight and dimensions. A common identifier of fakes is the presence of a bear on the reverse, which never appeared on genuine 19th-century issues. Authentication by a major third-party grading service (PCGS or NGC) is highly recommended for this series.
Shopping ConsiderationsWhen purchasing a BG-834, look for a well-centered strike with as much detail as possible in Liberty's hair and the wreath's leaves. Premium quality examples will exhibit prooflike or semi-prooflike surfaces, a common characteristic of the series. Avoid examples that have been harshly cleaned, which will appear unnaturally bright and show hairlines under magnification. Also, check for evidence of having been mounted in jewelry, such as rim damage or solder marks. An example with original, undisturbed surfaces and a strong strike for the grade will command a significant premium.
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 of BG-834 were business strikes, although many were struck with polished dies giving them a Prooflike (PL) appearance. They are found in Circulated grades (AU-58 and below) and Mint State (MS, 60-70). No true Proofs were struck during the original period of issue for this variety. Any piece described as a 'Proof' would be a later fabrication or a misattribution of a Prooflike business strike.
Mint State CharacteristicsUncirculated examples of BG-834 often display flashy, reflective surfaces due to the use of polished dies, frequently earning a Prooflike (PL) or Deep Prooflike (DMPL) designation from grading services. The strike can be inconsistent; a fully struck piece with sharp details on Liberty's hair curls and the wreath is rare and desirable. Due to the small size and hand-striking process, planchet quality can vary, with minor striations or adjustment marks sometimes visible but not necessarily detrimental to the grade if they are as-made.
Circulated Wear PatternsWear first appears on the highest points of the design: Liberty's cheek, the hair above her eye, and the highest leaves and bow of the wreath on the reverse. On lower-grade circulated examples, the stars and the numbers of the fraction will show considerable flattening.
Key Factors For ValueThe most significant value drivers for BG-834 are grade and surface quality. A high-grade Mint State example (MS-63 or better) will command a substantial premium. The presence of a Prooflike or Deep Prooflike designation significantly increases value and collector demand. Eye appeal is paramount; coins with a clean, flashy surface and a sharp strike are highly prized. Conversely, coins that have been cleaned, damaged from jewelry use, or show excessive contact marks will be valued significantly lower. A CAC sticker for this issue is highly sought after as it confirms premium quality for the assigned grade.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 50 | $240.00 | 2 |
| 50+ | $245.00 | N/A |
| 53 | $255.00 | 2 |
| 53+ | $260.00 | N/A |
| 55 | $270.00 | 7 |
| 55+ | $280.00 | N/A |
| 58 | $300.00 | 8 |
| 58+ | $335.00 | N/A |
| 60 | $400.00 | 1 |
| 61 | $500.00 | 1 |
| 62 | $650.00 | 12 |
| 62+ | $700.00 | N/A |
| 63 | $900.00 | 2 |
| 63+ | $1,000.00 | N/A |
| 64 | $1,400.00 | 1 |