1853 Gold Dollar - BG-502, Eagle

Coin Details

Auction Record

$25,300 AU58 09-01-2003 Bowers & Merena

Description

Cataloged as BG-502 in the Breen-Gillio reference, this 1853 octagonal California gold dollar measures approximately 15 to 16 millimeters in diameter — comparable in size to a modern cent. Produced during the early California Gold Rush era, this diminutive coin served as genuine small-denomination money in San Francisco and the surrounding mining regions, where the scarcity of federal small coinage created strong demand for locally produced gold pieces. This variety features an eagle design — a motif that appears on a select number of California fractional gold pieces and distinguishes them from the far more common Liberty Head types. The eagle obverse lends these coins a more formal, governmental appearance despite their private manufacture. The octagonal format of this piece departs from the conventional circular planchet shape familiar from regular federal coinage, creating a distinctive eight-sided coin at a dramatically reduced scale. California fractional gold coins emerged from a genuine economic need during the Gold Rush of the 1850s. With the nearest federal mint (Philadelphia) thousands of miles away and no reliable supply of small-denomination coinage reaching the Pacific Coast, San Francisco jewelers and coiners stepped in to produce these tiny gold pieces. A gold dollar could purchase everyday necessities in the mining camps and frontier towns of Northern California, making these coins practical instruments of daily commerce rather than mere novelties.

Rarity Notes

Scarce to rare. First-period California fractional gold coins survive in smaller numbers than their Period Two counterparts, reflecting lower original mintages and the attrition of circulation.

Cross References

BG-502; Breen-Gillio catalog; PCGS #10479; NGC #501502; California Fractional Gold Dollar; Octagonal; Period One (1852–1858); Eagle type