1874 G25C BG-876A (Regular Strike)
Obverse & Reverse
The 1874 G25C BG-876A is a product of the second major phase of California Fractional Gold production, known to numismatists as 'Period Two' (1859-1882). By this era, the acute shortage of small change that characterized the initial Gold Rush years had largely been resolved by the output of the San Francisco Mint, which opened in 1854. The impetus for producing these minuscule gold pieces had shifted from commercial necessity to commercial novelty. San Francisco had blossomed into a major metropolis and a tourist destination, creating a robust market for souvenirs and keepsakes of the 'Golden State.' Local jewelers and private minters, many of whom were French immigrants, stepped in to fill this demand. Unlike the 'Period One' issues, which were generally of higher weight and fineness and intended to circulate, the Period Two pieces were unabashedly created as 'jeweler's issues.' They were often significantly underweight for their stated denomination and struck in a wide variety of designs, including the popular Indian Head motif seen on this piece. The production of these denominated tokens existed in a legal gray area. The Private Coinage Act of 1864 had made such minting illegal, but the law was not aggressively enforced by the Secret Service in California until the early 1883. This permissive environment allowed for a prolific output of hundreds of distinct varieties throughout the 1870s. The BG-876A is one such variety, struck with a specific combination of dies that distinguishes it from its more common BG-876 counterpart, likely representing a subtle modification or a different die state. These pieces were not used for daily transactions but were sold as curios, mounted into jewelry, or kept as mementos of a visit to the romanticized West. Their modern numismatic significance lies in their direct connection to post-Gold Rush California culture and the craft of its local artisans, representing a fascinating chapter in the story of private coinage in America.
Associated EventCalifornia Gold Rush Aftermath & Tourism Boom
Reason For MintingPrimarily struck for sale to tourists and collectors as souvenirs of California, rather than for monetary circulation.
Minter HistoryThe specific minter or jeweler responsible for the BG-876A die pairing is unknown. Period Two pieces were produced by numerous San Francisco-based artisans and firms, such as Robert B. Gray & Co. and others, but a definitive attribution for this specific variety has not been established in numismatic literature. The work is characteristic of the anonymous but skilled die-sinkers of the era.
Historical SignificanceThe BG-876A exemplifies the transition of California small denomination gold from a circulating medium of necessity to a popular collectible and souvenir, reflecting the economic and cultural maturation of San Francisco in the 1870s.
BG-876A
Denomination25 Cents
Minting Period1874
Assayer/MinterUnknown
Geographic OriginSan Francisco, California
Obverse DescriptionA small Indian Head portrait facing left, reminiscent of the design on the contemporary U.S. Indian Head cent but stylistically distinct. The portrait is surrounded by 13 five-pointed stars, representing the original colonies. The date '1874' is positioned below the truncation of the neck. The specific die characteristics that distinguish BG-876A from BG-876 lie in the precise positioning of the stars and date relative to the central device.
Obverse Inscription1874
Reverse DescriptionThe reverse features the denomination '25 CENTS' enclosed within a wreath. The wreath is typically composed of two branches tied together at the bottom with a bow. The style of the wreath, including the number of leaves and berries, is a key diagnostic for different Breen-Gillio varieties.
Reverse Inscription25 CENTS
CompositionGold
Stated Fineness Actual FinenessVariable, but typically lower than U.S. Mint standards for the period, often ranging from .500 to .800 fine.
Diameter9.80 mm
EdgePlain
Unknown
Survival EstimateFewer than 75 believed to exist
Rarity ScaleR-5 (Very Scarce)
This coin is sought by specialists in the extensive California Fractional Gold series. Its appeal lies in its specific BG variety, its connection to the romantic 'Old West,' and the challenge of collecting these minuscule and often rare jeweler's issues. High-grade examples with sharp strikes are particularly prized.
Key VarietiesBG-876A is a specific die marriage variety of the BG-876. The primary difference lies in the die characteristics of the obverse or reverse, often subtle variations in the placement of design elements. No special collector issues, such as proofs or restrikes, are known for this specific variety from the period of issue. Any such pieces would be considered modern facsimiles.
Authentication TipsGenuine Period Two fractionals must be denominated (e.g., 'CENTS' or 'DOLLAR'). Replicas often feature a bear on the reverse, which is a universal sign of a non-authentic piece. Authentic examples are typically very thin and can have a slightly crude, uneven strike due to the hammer-striking process. Look for die characteristics matching known genuine examples in the Breen-Gillio reference. Counterfeits are often thicker, have a soapy or cast-like appearance, and may be made of gold-plated base metal.
Shopping ConsiderationsA premium quality example for this issue is defined by a sharp, well-centered strike, which is uncommon. Look for clarity in the details of the Indian's headdress and the individual leaves in the wreath. Original, lustrous surfaces are highly desirable and command significant premiums; many surviving examples have been cleaned or used in jewelry, so finding one with 'original skin' is a key value driver. Avoid pieces that are bent, holed, or show evidence of being mounted. Given the coin's tiny size, focusing on eye appeal and surface quality over the absolute numerical grade is often a wise strategy.
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, although intended as souvenirs rather than for circulation. They are found in both Circulated (1-58) and Mint State (MS, 60-70) grades. Because they did not circulate extensively, many survivors are found in high grades (AU or MS). No official Proofs were struck during the original minting period. Any piece described as a 'Proof' is likely a later restrike or fantasy piece, or a business strike with exceptionally reflective, proof-like (PL) surfaces.
Mint State CharacteristicsUncirculated examples of BG-876A are often characterized by a soft, satiny luster. The strike is a critical factor; many were weakly struck, particularly at the centers. A well-struck piece will show sharp details in the feathers of the headdress and the bow on the reverse wreath. Bag marks are less common than on larger coins, but small planchet flaws or adjustment marks are sometimes seen and are part of the coin's character.
Circulated Wear PatternsOn circulated examples, wear first appears on the high points of the design. For the obverse, this includes the cheek, the brow, and the feathers of the headdress. On the reverse, the highest points of the wreath's leaves and the bow will show the first signs of friction and flattening of detail. In lower grades, the stars and legends become weak.
Key Factors For ValueThe primary drivers of value for this coin are the grade and surface quality. A sharply struck coin with original, undisturbed luster will command a significant premium over a weakly struck or cleaned example in the same numerical grade. Eye appeal is paramount; coins with a pleasing, original reddish-gold toning are highly sought after. Certification by a major grading service (PCGS or NGC) is essential for authenticity and market liquidity. A CAC sticker for this issue indicates superior quality for the grade and adds a further premium.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 62 | $7,500.00 | N/A |