1871 G$1 BG-1109, DMPL (Regular Strike)
Obverse & Reverse
The 1871 Octagonal Gold Dollar, cataloged as BG-1109, is a quintessential artifact from the second major phase of California's private gold coinage era, known to numismatists as 'Period Two' (1859-1882). Unlike the 'Period One' issues which were struck out of necessity to alleviate a critical shortage of small change during the initial Gold Rush, the Period Two pieces were created in a vastly different socio-economic landscape. By the 1870s, the United States Mint in San Francisco was in full operation, supplying ample federal coinage for daily commerce. The original impetus for fractional gold had vanished. Instead, these miniature gold pieces were now produced primarily as souvenirs and novelty items for tourists, merchants, and citizens still captivated by the allure of the Gold Rush. San Francisco jewelers, such as the attributed minter Robert B. Gray & Co., were the primary manufacturers. These firms recognized a lucrative market for mementos that were intrinsically precious yet affordable. The BG-1109 was not intended for circulation in the traditional sense; its purpose was to be a keepsake, a piece of jewelry, or a vest-pocket curiosity. This shift in purpose is reflected in the coin's physical characteristics. Period Two issues are notoriously underweight compared to their stated face value, containing significantly less than a dollar's worth of gold. The Private Coinage Act of 1864 had officially made such private issues illegal, but enforcement by the Secret Service was inconsistent and not fully pursued until the early 1880s. This legal gray area allowed jewelers to continue production, often with artistic flair but with little regard for bullion content. The 'DMPL' or Deep Mirror Prooflike designation on certain specimens indicates they were struck using fresh, highly polished dies, resulting in mirror-like fields that contrast with frosted devices. This finish was not a special collector issue in the modern sense, but rather a natural byproduct of the early strikes from a new die pair, enhancing the coin's aesthetic appeal as a souvenir. Today, the BG-1109 stands as a testament to this unique chapter in American numismatics—a period when the raw urgency of the Gold Rush had matured into a romanticized and marketable memory, captured in miniature gold.
Associated EventPost-Gold Rush California Economy / Souvenir Trade
Reason For MintingPrimarily struck as a souvenir or novelty item for the tourist and jewelry trade, not for general circulation.
Minter HistoryRobert B. Gray & Co. was a prominent San Francisco jewelry firm active during the era of 'Period Two' fractional gold production. Around 1859, Gray purchased the business of another established jeweler and fractional gold producer, Antoine Louis Nouizillet, acquiring his dies and equipment. Gray & Co. produced a variety of fractional gold denominations, often marking their own dies with a distinctive 'G'. The firm's issues are generally noted for their relatively high quality of workmanship for the period. In 1871, the same year this coin was struck, Gray sold his interests to the California Jewelry Co., marking the end of his direct involvement in the trade.
Historical SignificanceThe coin is significant not as a medium of exchange, but as a physical representation of the commercialization of the Gold Rush legacy. It marks the transition of private minting from a vital necessity to a nostalgic enterprise, reflecting a more settled and prosperous California that had begun to mythologize its own recent past.
N/A
Denomination$1
Minting Period1871
Assayer/MinterRobert B. Gray & Co. (Attributed)
Geographic OriginSan Francisco, California
Obverse DescriptionThe obverse features a classic Liberty Head portrait facing left, her hair tied in a bun. She is surrounded by 13 six-pointed stars arranged in a circle near the octagonal border. The portrait style is typical of the simplified designs used on fractional gold, with less fine detail than contemporary federal coinage.
Obverse Inscription Reverse DescriptionThe reverse is dominated by a central wreath composed of two branches tied together with a bow at the bottom. Inside the wreath, the denomination '1' is placed above the word 'DOLLAR'. The date '1871' is located beneath 'DOLLAR'.
Reverse Inscription1 DOLLAR 1871
CompositionGold
Stated Fineness Actual FinenessVariable, but typically ranged from .500 to .850 fine during Period Two. Often significantly debased compared to federal coinage.
Weight1.10 grams
Diameter12.20 mm
EdgePlain
Unknown
Survival Estimate76-200 (Consistent with R-5 rating)
Rarity ScaleR-5
This coin appeals to collectors of Territorial gold, Gold Rush memorabilia, and numismatic oddities. Its octagonal shape, miniature size, and the allure of private California gold make it a popular type coin. High-grade examples, especially those with DMPL surfaces, are particularly prized for their exceptional eye appeal.
Key VarietiesThe primary variety is BG-1109 itself, defined by its specific die pairing. Within this variety, specimens are further distinguished by surface characteristics, with Deep Mirror Prooflike (DMPL) examples being the most desirable. These are not a separate striking but rather early strikes from fresh, polished dies. No official restrikes or patterns are known to exist.
Authentication TipsGenuine pieces are struck, not cast. Look for sharp, albeit sometimes crude, details and defined edges. The fields should be free of pitting or tooling marks common on counterfeits. Many modern replicas exist; these are often brassy in color, have incorrect details (such as a bear on the reverse), and lack a denomination. Genuine Period Two pieces are often weakly struck in the center due to the manual screw press or hammer method used. Pay close attention to the style of the numerals in the date and the lettering, comparing them to known genuine examples, as counterfeit dies are often crude.
Shopping ConsiderationsFor a premium quality example, seek a specimen with a sharp, well-centered strike, as many are found off-center or with areas of weakness. For a DMPL example, look for deep, watery, reflective fields that allow for a clear reflection. The contrast between these mirrored fields and any frosted devices (cameo) dramatically increases eye appeal and value. Check carefully for signs of cleaning, which can manifest as hairline scratches that disrupt the original luster. Avoid pieces that have been used in jewelry, looking for evidence of mounting, solder, or excessive rim damage. Original, reddish-gold toning is considered attractive and adds to the value.
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 1871 BG-1109 issues were business strikes, although produced for souvenir purposes, and are found in Circulated (1-58) and Mint State (MS, 60-70) grades. No true Proofs were struck during this period. The Deep Mirror Prooflike (DMPL) or Prooflike (PL) designation is an attribute applied to a business strike (MS) coin and is not a separate grade type; it signifies a coin struck with highly polished dies, creating a special surface quality that is highly coveted.
Mint State CharacteristicsAn uncirculated BG-1109 is often characterized by a soft, satiny luster. The strike can be inconsistent; many examples show softness on the highest points of Liberty's hair and the leaves of the wreath. DMPL specimens are exceptional, exhibiting highly reflective, mirror-like fields. Due to the softness of the gold alloy used, even high-grade Mint State examples will typically show small contact marks from handling over the last 150+ years.
Circulated Wear PatternsWear first appears on the high points of Liberty's cheek, hair above the eye, and ear. On the reverse, the highest points of the wreath's leaves and the bow will show initial friction. As wear progresses, the stars on the obverse will begin to lose their sharpness, and the fine details within the wreath will merge. In lower grades (VF and below), the legends and date start to become weak.
Key Factors For ValueThe primary driver of value is the grade, with a steep premium for Mint State examples. The presence of a DMPL or PL designation commands a significant premium over a standard MS coin of the same numerical grade. Surface quality is paramount; an example with clean, original surfaces and no evidence of harsh cleaning or damage will be far more valuable. Strike quality is also key, with well-centered and sharply detailed specimens being preferred. Finally, superior eye appeal—a combination of strong luster, attractive toning, and a crisp strike—will always drive a coin to the top of the market for its grade.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 64 | $4,250.00 | 1 |