1871 G25C BG-863A (Regular Strike)
Obverse & Reverse
The 1871 G25C, cataloged as BG-863A in the Breen-Gillio reference, is a product of the second period of California Fractional Gold production (1859-1882). This era is distinct from the initial 'Period One' (1852-1857), during which tiny gold coins were struck out of genuine commercial necessity to alleviate a severe shortage of small change in Gold Rush California. By the 1860s and 1870s, the San Francisco Mint was in full operation, producing ample federal silver coinage and eliminating the practical need for these private issues. Consequently, the motivation for producing fractional gold shifted. Jewelers, primarily in San Francisco, began manufacturing these miniature gold pieces largely as souvenirs and novelty items for tourists and locals who were nostalgic for the heady days of the Gold Rush. These 'Period Two' pieces, often called 'jeweler's issues,' were not intended for widespread circulation. Their gold content was typically less than their face value, a stark contrast to the nearly full-value Period One coins. The Coinage Act of 1864 had prohibited private coinage, but enforcement by the Secret Service was lax until the early 1880s, allowing this souvenir trade to flourish. The 'G' marking on this piece is the hallmark of Robert B. Gray & Co., a prominent San Francisco jewelry firm that was a prolific producer of these tokens. Gray had purchased the business of another fractional gold maker, Antoine Louis Nouizillet, in the late 1850s, acquiring his dies and continuing the trade. The BG-863A is one of numerous die pairings used by jewelers during this time, reflecting a cottage industry where dies were often mixed and matched, and new varieties were created frequently to appeal to collectors and tourists. The very existence of so many varieties from this period speaks to their nature as collectibles rather than functional currency.
Associated EventPost-Gold Rush California Commerce
Reason For MintingPrimarily struck as a souvenir or collectible charm for the tourist trade, not for general circulation.
Minter HistoryRobert B. Gray & Co. was a San Francisco-based jewelry company active in the mid-to-late 19th century. A significant player in the 'Period Two' fractional gold market, Gray acquired the business of pioneer minter Antoine Nouizillet around 1859. The firm was known for producing a wide variety of fractional gold tokens, typically marked with a 'G' on the obverse. Breen and Gillio note that Gray's issues were often of higher weight and intrinsic value than many other contemporary jeweler's pieces. In 1871, the same year this coin was struck, Gray sold his interests to the California Jewelry Company.
Historical SignificanceThis coin represents the transition of fractional gold from a necessary form of currency to a commercial souvenir. It is a tangible link to the robust tourism and jewelry trade of 1870s San Francisco and the romanticism that had already developed around the Gold Rush, even as it was still within living memory.
N/A
Denomination25 Cents
Minting Period1871
Assayer/MinterRobert B. Gray & Co.
Geographic OriginSan Francisco, California
Obverse DescriptionFeatures a Liberty Head motif, typical for the series. The 'G' for the minter, Robert B. Gray & Co., is present. The specific die characteristics that distinguish BG-863A from other 1871-G varieties, such as the exact positioning of the date, stars, or the 'G' mintmark, are not documented in available online numismatic resources.
Obverse Inscription1871
Reverse DescriptionA wreath surrounds the denomination. Specific diagnostics for the BG-863A reverse die, such as the number and arrangement of berries, leaf positions, or any die cracks, are not detailed in accessible references, distinguishing it from other known reverse dies paired with this obverse.
Reverse Inscription25 CENTS
CompositionGold
Stated Fineness Actual FinenessVariable, but typically less than face value for Period Two issues.
EdgePlain
Unknown, but certainly very small.
Survival EstimateExtremely few; likely less than 10.
Rarity ScaleLikely R-7 (4-12 known) or higher. The absence of auction records suggests extreme rarity.
The appeal of BG-863A lies in its extreme rarity as a specific die variety within the popular California Fractional Gold series. Collectors specializing in this area seek to acquire as many Breen-Gillio varieties as possible, and an obscure variety like this, especially from a known maker like Robert B. Gray & Co., would be a significant prize.
Key VarietiesCalifornia Fractional Gold is defined by its die varieties (BG numbers). BG-863A is itself a key variety due to its rarity. No later-date Proof restrikes or patterns are known for this specific variety.
Authentication TipsAuthentication requires comparison with known genuine examples, which is difficult given its rarity. General tips for Period Two fractionals include checking for proper weight and metallic content (many counterfeits are brass or low-karat gold-plated), and examining the style of the strike. Genuine pieces, though often crudely made, have a characteristic sharpness from being hammer-struck, unlike the soft, cast-like appearance of many fakes. The specific die markers for BG-863A would be the ultimate determinant, but are not publicly documented.
Shopping ConsiderationsA potential buyer is highly unlikely to encounter this specific variety on the open market. If one were to appear, it would command a significant premium due to its rarity. A 'premium quality' example would be one that is well-struck for the issue, as many were made with uneven pressure. Key elements to look for would be sharpness in Liberty's hair details and the wreath on the reverse. Original, uncleaned surfaces with some remaining luster would be paramount. As with all fractional gold, careful examination for signs of being previously mounted in jewelry (solder marks, edge tooling, rim damage) is essential.
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 the souvenir trade, not circulation. They are found in Circulated (1-58) grades (often from handling or use as jewelry) and Mint State (MS, 60-70) grades. No Proofs were struck during the original period of issue, and no later-date Proof restrikes of this specific variety are known to exist.
Mint State CharacteristicsAn uncirculated example of an 1871-G fractional would be judged on the quality of its strike, luster, and marks. Strikes are frequently weak in areas due to the hand-hammering process; a coin with a full, even strike is rare and desirable. Luster is typically satiny rather than frosty. Small planchet flaws or adjustment marks are common and should be distinguished from post-striking damage. Contact marks are expected due to the softness of the gold and years of storage.
Circulated Wear PatternsFor a Liberty Head fractional, wear first appears on the highest points: the hair above Liberty's eye and ear, and the tips of the leaves in the wreath on the reverse. On more worn examples, the stars on the obverse will begin to merge with the field, and the lettering of the denomination will become faint.
Key Factors For ValueFor BG-863A, the single most important factor is its very existence and authenticity as a rare Breen-Gillio variety. Beyond that, value is driven by surface preservation. An example with original, undisturbed surfaces and good eye appeal will be worth multiples of a cleaned, scratched, or damaged coin of the same technical grade. A sharp strike is a significant bonus. Certification by a major service like PCGS or NGC is essential for market acceptance, and a CAC sticker would indicate premium quality for the assigned grade.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 55 | N/A | N/A |