1874 G50C BG-1053, PL (Regular Strike)
Obverse & Reverse
The 1874 G50C BG-1053 is a product of the second phase of California Fractional Gold production, a period numismatists define as 1858-1882. Unlike the 'Period One' (1852-1857) issues, which were struck out of a genuine necessity to alleviate a shortage of small change during the initial chaos of the Gold Rush, these later pieces served a different purpose. By the 1870s, the U.S. Mint in San Francisco was in full operation, and the acute need for privately-minted circulating coinage had subsided. Instead, local jewelers like Antoine Louis Nouizillet, a Frenchman who had established a business in San Francisco, recognized a burgeoning market for gold souvenirs. The transcontinental railroad, completed in 1869, brought a new wave of tourists and settlers to California, all eager for a tangible piece of the now-legendary Gold Rush. These tiny gold coins, often called 'jeweler's issues,' were perfectly suited for this demand. They were small, made of gold, and evoked the romanticism of the '49ers. The production process for these Period Two pieces was less industrial and more artisanal than federal coinage, often involving a hammer-striking method. This resulted in frequent variations in strike quality and planchet preparation. The BG-1053, with its Indian Head motif, was a popular design choice of the era, tapping into the romanticized American frontier aesthetic. Legally, these pieces existed in a grey area. The Coinage Act of 1864 made private coinage illegal, but the law was not aggressively enforced against these small, low-value tokens until the Secret Service cracked down in the early 1880s, bringing the era of California Fractional Gold to a close. Consequently, most Period Two pieces saw little to no actual circulation, being preserved as keepsakes or mounted into jewelry. Their modern numismatic significance lies in their direct connection to the legacy of the Gold Rush and the entrepreneurial spirit of the jewelers who catered to a nation's fascination with the Golden State.
Associated EventPost-Gold Rush California Tourism & Commerce
Reason For MintingPrimarily minted as souvenirs for the tourist trade rather than for circulation, capitalizing on the romantic legacy of the Gold Rush.
Minter HistoryAntoine Louis Nouizillet was a prominent French jeweler and one of the key producers of California Fractional Gold, particularly during Period Two. He operated in San Francisco, where he, like other jewelers such as Deriberpe and Frontier & Deviercy, transitioned from Period One production (if any) to creating souvenir coinage. Nouizillet's business was eventually sold to Robert B. Gray & Co. around 1859-1860, who continued to use some of his dies. The pieces attributed directly to Nouizillet are part of the complex web of private minters who defined this unique numismatic era.
Historical SignificanceThe BG-1053 represents the maturation of the California Fractional Gold series from utilitarian currency to a commercial souvenir industry. It is a tangible artifact of how the Gold Rush was memorialized and marketed in the decades following its peak, reflecting a shift in California's economy and its public image.
BG-1053
DenominationG50C (50 Cents)
Minting Period1874
Assayer/MinterAntoine Louis Nouizillet
Geographic OriginSan Francisco, California
Obverse DescriptionAn Indian princess head facing left, adorned with a feathered headdress. The portrait is surrounded by thirteen stars, representing the original colonies. The date '1874' is positioned below the bust.
Obverse Inscription1874
Reverse DescriptionThe denomination '50 CENTS' is displayed within a wreath. The wreath is composed of two olive branches tied together at the bottom with a bow.
Reverse Inscription50 CENTS
CompositionGold
Stated Fineness Actual FinenessVaries, but typically lower than federal coinage, often around .500 to .750 fine.
Weight0.25 grams
Diameter9.80 mm
EdgePlain
Unknown
Survival EstimateFewer than 75
Rarity ScaleR-5 (High R.5)
This variety appeals to collectors of California gold and Western Americana for its attractive Indian Head design, historical connection to the post-Gold Rush era, and its relative scarcity. High-grade, prooflike examples are particularly coveted for their gem-like quality.
Key VarietiesThe primary variety is the regular business strike. A 'PL' (Prooflike) designation is given to specimens with mirror-like fields, which are not true proofs but rather were struck from freshly polished dies. No known special collector issues or later restrikes exist for this specific variety.
Authentication TipsAuthentic pieces must have the denomination spelled out (e.g., 'CENTS' or 'DOLLAR'), as souvenir tokens made after the 1883 crackdown were legally forbidden from doing so. Genuine examples are very thin and often show evidence of die rust, lapping lines, or weak strikes in peripheral areas. Counterfeits are often thicker, have a soapy or cast-like appearance, incorrect lettering style, or may feature a bear on the reverse, a design not used on authentic Period Two fractional gold.
Shopping ConsiderationsA premium quality example for its grade will exhibit a sharp strike, especially on the details of the headdress feathers and the bow on the reverse wreath. Seek out coins with bright, original prooflike surfaces and minimal, non-distracting contact marks. Because these were jeweler's issues, be vigilant for evidence of having been mounted in jewelry, such as solder marks or rim damage. Original, uncleaned surfaces are paramount; any harsh cleaning or polishing drastically reduces value and appeal. A CAC sticker on this issue provides strong confirmation of quality for the assigned grade.
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 as souvenirs, not for heavy circulation. They are found in Circulated grades (1-58) though this is less common, and are most often encountered in Mint State (MS, 60-70) condition. The 'PL' (Prooflike) designation is applicable to business strikes and is not a separate issue type. True Proof (PR/PF) examples were not struck during the original minting period, and no later-date Proof restrikes of this variety are known to exist.
Mint State CharacteristicsUncirculated examples of BG-1053 are characterized by their luster, which can range from satiny to deeply prooflike. Due to the rudimentary minting process, strikes can be inconsistent. A full strike on the Indian's hair and the wreath's bow is desirable but not always present. The fields are prone to tiny planchet flaws or die polish lines, which are characteristic and not necessarily impairments. Contact marks, even on high-grade specimens, are common due to the softness of the gold.
Circulated Wear PatternsOn circulated examples, wear first appears on the high points of the design. For the obverse, this includes the cheek of the Indian princess and the feathers of the headdress. On the reverse, the highest points of the wreath leaves and the bow will show initial friction and flattening. In lower grades (VF and below), the stars on the obverse and the letters in the denomination will start to become weak.
Key Factors For ValueThe primary value driver is the grade and surface quality. A coin with brilliant, prooflike, and mark-free surfaces commands a significant premium over a standard Mint State example. Sharpness of strike is critical; a well-defined portrait and wreath are highly sought. Eye appeal is also key, with collectors favoring coins that have deep, original gold color and have avoided cleaning or polishing. A CAC sticker for this issue is highly desirable, indicating a premium quality coin for the grade.
PCGS Price Guide
| Grade | Price | Population |
|---|---|---|
| 63 | $1,050.00 | N/A |
| 63+ | $1,200.00 | N/A |
| 64 | $1,350.00 | N/A |
| 64+ | $1,750.00 | N/A |
| 65 | N/A | N/A |