1880 G50C BG-955, PL (Regular Strike)
Obverse & Reverse
The 1880 BG-955 50 Cents piece emerges from the second major phase of California Fractional Gold production, known as 'Period Two' (1859-1882). Unlike their 'Period One' predecessors which were struck out of genuine commercial necessity to alleviate a shortage of small change during the Gold Rush, Period Two issues were created primarily as souvenirs and for the jewelry trade. By the 1870s and 80s, San Francisco was a burgeoning metropolis and a popular tourist destination. Visitors from the East Coast and Europe were fascinated by the romanticism of the Gold Rush, creating a vibrant market for keepsakes. Local jewelers and private minters, many of French origin, capitalized on this by producing these miniature gold coins. The Coinage Act of 1864 had technically made private coinage illegal, but the law was not strictly enforced by the Secret Service until 1883. This legal gray area allowed for the continued production of denominated pieces like the BG-955. These items were often underweight compared to their face value and varied in fineness, as their purpose was novelty rather than circulation. The BG-955, with its popular Indian Head motif—a design choice echoing contemporary U.S. coinage but with a distinct private flair—was perfectly suited for this market. The octagonal shape was a deliberate nod to the massive $50 'slugs' issued by the U.S. Assay Office and private minters in the early 1850s, adding another layer of historical allusion for the buyer. These pieces were not intended to and did not circulate in commerce; their existence is a testament to the enduring legacy of the Gold Rush and the entrepreneurial spirit of San Francisco's craftsmen who created tangible, golden mementos of a pivotal era in American history.
Associated EventPost-Gold Rush California Tourism
Reason For MintingPrimarily struck as souvenirs for tourists and for use in the jewelry trade, not for circulation.
Minter HistoryThe specific minter or jeweler responsible for the BG-955 die pair is unknown. During 'Period Two' (1859-1882), numerous San Francisco jewelers, many of French descent, produced these fractional gold pieces. Prominent firms from the era included Deriberpe & Nouizillet (D.N.) and Frontier & Deviercy (F.D.), though hundreds of distinct, unattributed varieties from other makers exist. These craftsmen operated in a competitive environment, creating a wide variety of designs to appeal to the souvenir and jewelry market.
Historical SignificanceThe BG-955 is a prime example of a 'Period Two' California Fractional Gold piece, significant not as a circulating coin but as a historical artifact representing the commercialization of the Gold Rush legacy. It showcases the transition of private gold minting from a necessity to a novelty and souvenir industry that thrived in San Francisco until federal laws were more strictly enforced in 1883.
BG-955
Denomination50 Cents
Minting Period1880
Assayer/MinterUnknown
Geographic OriginSan Francisco, California
Obverse DescriptionAn Indian Head portrait facing left, adorned with a feathered headdress. The portrait is encircled by 13 six-pointed stars.
Obverse InscriptionNo inscription.
Reverse DescriptionThe denomination '1/2' is enclosed within a wreath of oak and laurel. The date '1880' is positioned below the wreath.
Reverse Inscription1/2
CompositionGold
Stated Fineness Actual FinenessVariable, often lower than circulating U.S. gold coinage of the era.
EdgePlain
Unknown; mintage figures were not recorded by these private jewelers.
Survival Estimate13-30 known examples.
Rarity ScaleR-6
This variety is highly sought after due to its R-6 rarity, attractive Indian Head design, and octagonal shape. The Prooflike (PL) designation adds significant appeal, as the deeply mirrored fields contrast sharply with frosted devices, creating a stunning visual effect reminiscent of a specially struck presentation piece.
Key VarietiesThe primary variety is the regular strike BG-955. There are no known major varieties from the original minting period. No special collector issues, patterns, or official restrikes are known to exist for this specific Breen-Gillio number. However, the reference 'California Pioneer Fractional Gold' by Breen and Gillio catalogs numerous die states for many varieties, which are collected by specialists. An early die state for BG-955, unlisted in the second edition of the reference, has been noted in auction catalogs.
Authentication TipsGenuine BG-955s must have a stated denomination ('1/2') within the wreath. Pieces without a denomination, or those that say 'CAL GOLD CHARM,' are later tokens. Check for sharp die characteristics consistent with known examples; counterfeits are often softly detailed. The weight and specific gravity should be consistent with a gold composition, not gold-plated base metal. Attribution by a top-tier grading service (PCGS or NGC) which verifies the BG number is the strongest assurance of authenticity.
Shopping ConsiderationsFor a premium quality BG-955, look for a sharp, well-centered strike, particularly on the details of the headdress feathers and the wreath leaves. On PL examples, the depth and clarity of the mirror-like fields are paramount. Seek out specimens with minimal contact marks, as the reflective surfaces make any imperfection highly visible. Original, undisturbed surfaces with a slight orange-peel or frosty texture on the devices are highly desirable. Avoid examples that have been cleaned, whizzed, or polished, as this destroys the original surfaces and drastically reduces value. Evidence of jewelry mounting (solder, tooling, or rim damage) is also a major impairment to be avoided.
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, often produced with polished dies to enhance their appeal as souvenirs. They are found in Circulated (1-58) and, more commonly, Mint State (MS, 60-70) grades. Due to their non-circulating nature, high-grade examples are the norm. No true 'Proofs' were struck in the official sense. However, many were made with such care and using such highly polished dies that they exhibit deeply mirrored fields and are designated as 'Prooflike' (PL) or 'Deep Mirror Prooflike' (DMPL) by grading services, which is a separate attribute from a standard business strike.
Mint State CharacteristicsA high-quality MS example of BG-955 will exhibit strong luster. For PL-designated coins, the fields will be deeply reflective, much like a mirror. The strike is typically sharp, though minor weakness on the highest points of the Indian's cheek or the wreath is not uncommon. Due to the minting process and subsequent handling as souvenirs, small, light contact marks are common even on high-grade specimens. The highest-graded examples are nearly mark-free with exceptional eye appeal.
Circulated Wear PatternsAlthough not intended for circulation, any wear would first appear on the high points: the cheek and feathers of the Indian Head on the obverse, and the numerals and highest leaves of the wreath on the reverse. In lower grades, the stars and date would begin to lose their sharpness.
Key Factors For ValueRarity and grade are the primary value drivers. The Prooflike (PL) designation carries a significant premium over non-PL examples of the same numerical grade. Surface preservation is critical; an example with original, uncleaned surfaces and minimal distracting marks will always be worth more. Eye appeal, including the intensity of the mirrored fields and any attractive toning (often a rich peach-gold color), greatly influences desirability. A CAC sticker indicates premium quality for the grade and will command a higher price in the market.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 64 | N/A | 1 |