1874 G25C BG-875A (Regular Strike)
Obverse & Reverse
The 1874 G25C BG-875A is a quintessential example from the second period of California Fractional Gold production (1859-1882). Unlike the 'Period One' issues (1852-1856), which were struck out of genuine commercial necessity to alleviate a severe shortage of small change during the initial Gold Rush boom, these later pieces served a different purpose. By the 1870s, the San Francisco Mint was in full operation, supplying the region with ample federal coinage. The frantic need for private currency had subsided, but a new market had emerged. San Francisco had become a major tourist destination and a center of national fascination. Enterprising local jewelers, many of French origin, recognized the appeal of miniature gold coins as souvenirs and keepsakes. These 'jeweler's issues' were not intended to and did not seriously circulate as money. Instead, they were mementos of the romanticized Gold Rush era, often sold to tourists or incorporated into jewelry. The production of these pieces was a cottage industry. Lacking the heavy steam presses of the federal mint, minters employed cruder methods, often the 'hammer method,' where a top die was struck with a sledgehammer onto a planchet resting on a bottom die. This process resulted in coins of varying strike quality, often with weakness in the high points or off-center designs. The gold content was also unregulated and notoriously inconsistent, with fineness ranging from low-grade alloys to nearly pure gold, almost always containing less than their face value in bullion. The Coinage Act of 1864 had officially outlawed private coinage, but the law was not strictly enforced against these small, denominated tokens until the Secret Service cracked down in 1883. After this, private minters transitioned to producing non-denominated 'charms' to avoid legal trouble. The BG-875A, with its classic Indian Head motif—popular in the era and evocative of the American frontier—is a tangible link to this fascinating transitional period where commerce, tourism, and numismatics intersected in post-Gold Rush California.
Associated EventPost-California Gold Rush Tourism Boom
Reason For MintingPrimarily created as souvenirs and for use in jewelry rather than to fill a circulating coinage need.
Minter HistoryThe specific minter of BG-875A is unrecorded, a common trait for Period Two issues. Dozens of private companies, many operated by jewelers in San Francisco, produced fractional gold during this era. Unlike Period One minters who sometimes used initials (e.g., 'N.R.' for Nouizillet and Routhier), many later producers remained anonymous, focusing on the novelty appeal rather than their reputation as assayers. These craftsmen were skilled in working with small quantities of gold, but their operations were small-scale and their identities are now largely lost to history.
Historical SignificanceThis coin is historically significant not as a medium of exchange, but as a cultural artifact of 1870s California. It represents the commercialization and romantic mythologizing of the Gold Rush, demonstrating how the region's identity was packaged and sold to a wider American audience. It is a prime example of a 'suppressed jeweler's issue,' a numismatic category that exists in the gray area between official coinage and private tokens.
N/A
Denomination25 Cents
Minting Period1874
Assayer/MinterUnknown Private Minter (Jeweler)
Geographic OriginSan Francisco, California
Obverse DescriptionA stylized female head faces left, wearing a Native American-style feathered headdress. The portrait is surrounded by 13 six-pointed stars. The date, 1874, is positioned below the bust.
Obverse Inscription1874
Reverse DescriptionThe denomination '1/4' is prominently displayed in the center, enclosed within a wreath of two olive branches tied at the bottom with a ribbon. The word 'DOLLAR' appears below the fraction, following the curvature of the wreath. A small rosette or ornament is sometimes present at the top opening of the wreath.
Reverse Inscription1/4 DOLLAR
CompositionGold
Stated Fineness Actual FinenessVariable, often between .500 and .800 fine, and consistently underweight for its face value.
Weight0.15 grams
Diameter9.40 mm
EdgePlain
Unknown
Survival Estimate31-75 (based on rarity scale)
Rarity ScaleR-5
The BG-875A is sought after as a collectible type coin representing the popular Indian Head motif on Period Two fractional gold. Its appeal lies in its tiny size, gold composition, and direct connection to the romantic lore of the American West. The challenge of collecting the hundreds of different Breen-Gillio varieties makes each one a desirable acquisition for specialists.
Key VarietiesThe primary variety is the Regular Strike business issue. No proofs were struck during the original minting period. While some fractional gold issues have later restrikes (often from the 20th century), none are specifically recorded for the BG-875A dies. Collectors should be aware of numerous modern replicas, often gold-plated and worthless, which are not considered numismatic varieties.
Authentication TipsGenuine pieces are struck in gold, not brass or gilt base metal. Look for sharpness in the stars and feathers, though some weakness from a poor strike is common. The surfaces of authentic pieces often have a slightly uneven, handmade quality, unlike the uniform, glossy fields of modern replicas. Replicas often feature a bear on the reverse, a design element not found on genuine denominated Period One or Two issues. Any piece without a denomination (e.g., '1/4 DOLLAR' or '25 CENTS') is likely a later charm and not a BG-cataloged coin. Weight and diameter should be very close to the specified 0.15g and 9.4mm.
Shopping ConsiderationsA premium quality example for its grade will exhibit a sharp, well-centered strike, which is uncommon for the type. Look for original, uncleaned surfaces with some remaining mint luster, often described as 'prooflike' due to the polished dies used by jewelers. The color of the gold can vary, but pieces with attractive, reddish-gold or greenish-gold toning are highly prized. Avoid examples that have been used as jewelry, evidenced by solder marks, heavy polishing, or rim damage. Given their small size, encapsulation by a major grading service (PCGS or NGC) is highly recommended for authentication and protection.
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 1874 G25C BG-875A coins were business strikes, although many were sold directly to collectors and tourists and never circulated. They are found in Circulated grades (1-58) and, more commonly, Mint State (MS, 60-70). No true Proof (PR/PF) examples were struck during the original period of issue. Some Mint State examples may be designated as Prooflike (PL) due to the highly polished dies used by the jeweler-minters.
Mint State CharacteristicsUncirculated examples often exhibit a sharp contrast between mirrored fields and frosted devices, earning a PL designation. The strike is a key factor; many are weakly struck on the high points of the Indian's cheek and the feathers in the headdress. Luster is typically bright and flashy. Due to the softness of the gold and primitive handling, even high-grade MS examples can show tiny planchet flaws or minuscule contact marks that do not impede the grade.
Circulated Wear PatternsOn circulated examples, wear first appears on the high points of the design: the Indian's cheekbone, the eyebrow, and the tips of the feathers in the headdress. On the reverse, the highest points of the wreath's leaves and the numerals of the fraction '1/4' will show initial friction and flattening. In lower grades (VF and below), the stars on the obverse and the letters in 'DOLLAR' will begin to merge with the fields.
Key Factors For ValueThe primary drivers of value are grade and surface quality. A sharply struck coin with pristine, original surfaces will command a significant premium over a weakly struck or cleaned example of the same grade. Eye appeal is paramount; coins with attractive toning and flashy, prooflike surfaces are most desirable. Certification by PCGS or NGC is nearly essential for market acceptance. A CAC sticker for this issue indicates superior quality for the grade and will bring a strong premium.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 60 | $7,500.00 | N/A |