1853 Gold Dollar - BG-518

Coin Details

Auction Record

$4,888 MS63 11-29-2006 Heritage Auctions

Description

Cataloged as BG-518 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 piece displays the characteristic Liberty Head obverse typical of its Breen-Gillio catalog group, with the denomination indicated on the reverse. The die engraving on California fractional gold pieces, while necessarily simplified by the small planchet size, often exhibits surprising detail and craftsmanship given the constraints of the medium. 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. As a Period One issue, this variety was struck for genuine commerce during the Gold Rush era, and fewer specimens have survived compared to the more plentiful Period Two souvenir pieces.

Cross References

BG-518; Breen-Gillio catalog; PCGS #10495; NGC #501518; California Fractional Gold Dollar; Octagonal; Period One (1852–1858)