1855 Gold Quarter - BG-227

Coin Details

Auction Record

$4,700 MS65 12-04-2014 Heritage Auctions

Description

This round California gold quarter dollar, designated BG-227 in the Breen-Gillio catalog, dates to 1855 and measures approximately 10 to 11 millimeters in diameter. The first period of California fractional gold production (1852–1858) saw dozens of San Francisco jewelers and coiners manufacturing these miniature gold coins to fill the vacuum left by the virtual absence of federal small-denomination coinage on the Pacific Coast. The obverse features a Liberty Head design — a portrait of Liberty wearing a coronet or wreath — which is the most prevalent motif across the California fractional gold series. The reverse displays the denomination within a wreath or decorative border. The remarkably diminutive size is one of the distinctive hallmarks of California fractional gold coinage, making these among the smallest coins ever struck for genuine commerce and adding a novelty that has long attracted collectors. The production of California fractional gold during the 1850s was driven by the paradox of Gold Rush-era economics: California was awash in gold but desperately short of the small-denomination coins needed for routine transactions. Before the San Francisco Mint opened in 1854, and even afterward as it focused on large-denomination coinage, private manufacturers filled the gap with these diminutive gold pieces. The quarter dollar denomination represented a useful unit of value for everyday purchases in a region where gold dust and nuggets were impractical for buying bread or a newspaper.

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-227; Breen-Gillio catalog; PCGS #10412; NGC #501227; California Fractional Gold Quarter Dollar; Round; Period One (1852–1858)