What's the transition period for California fractional gold?

topstuf

I ...used to...have the book on them. Forget the title but as I....recall.... it said that the ones in the 1850's were actual pieces for commerce and the 1870's were more ...jewelry... intended.

???

CaptHenway

Please clarify the question.

topstuf

As I recall, the book I had on fractional CA pieces said that the gold fractionals in the 1850's period were used for money.

And... the later ones (1870's era) were for jewelry purposes.

Or it didn't. As I said, I no longer have the book.

AUandAG

I don't have the book either, but you are correct I believe.

bob

AUandAG

https://coinsite.com/fractional-gold-coins-or-just-tokens/

MrEureka

If you really want to know what circulated and what did not, take a look at the population reports. If all known specimens are uncirculated, that's a pretty good clue that they were probably never used as money.

Zoins

I've found this article to be pretty useful. It breaks these coins in to Period 1, 2, and 3.

https://www.ngccoin.com/news/article/2349/Fantasy-and-Souvenir-California-Fractional-Gold/

Here's a small excerpt:

Those struck from 1852 to 1857 are termed “Period One” issues and are believed to have actually circulated, while the “Period Two” strikes from 1858 to 1882 were struck as souvenirs of the Gold Rush by local jewelers. NGC grades Period One and Two issues, as well as 15 Period Three varieties (mostly struck in the early 1900s), but modern replicas are very common and routinely submitted. A few helpful tips can make sure you never get fooled by these sometimes deceptive fantasy pieces.

LJenkins11

I was not aware of this, thank you for sharing. I do not own any fractional gold, yet, but I like the history of the great western migration associated with them.

CaptainBlunt

1852-1857 Period 1
1858-1882 Period 2 Jewelry

1852-1853 or 54 coins souvenirs too
1855-1857 gray area not as clear
1858-1882 Period 2

In early 1860 Cal manufacturers Frontier and Deviercy advertised that they
were selling Jewelry coin.

Regarding circulation BG 101, 206, 207, 209, 401, 501, 602 and 603
are some of the coins that appear to have circulation wear

BG 602 and 603 are very rare round dollars dated 1854....

BG 101, 206, 209 among other varieties were found on the wreck of the Winfield Scott
which ran aground on Anacapa Island on the night of Dec. 2, 1853.

401 SSCA

I know during the first salvage on the SSCA 4 Cals were found all BG 111 (quarters)

Second salvage 2014 112 CALS were recovered

Probably because in 2014 a wider area of the wreck was explored including
where her passengers had left their gold behind. The first salvage effort
concentrated on the commercial shipment of gold found in the so-called
"Garden of Gold."

I think the first gold (ingots) recovered in 2014 were sitting in plastic trays
that CADG had placed on the bottom and never got the chance to bring it to the surface.

Obviously the dominant date of the CALS recovered from the Winfield Scott was 1853.
The dominant date recovered from the S.S.CA appears to have been 1856.

The dollars may have reached their zenith in circulation in 1853 based on the newspaper
accounts and the number of Nouzillet dollars recovered from the Winfield Scott in comparison
to just a handful of CAL $1 gold pieces apparently recovered from the S.S. Central America.

I know some will ague that the CALS recovered from the SSCA proves they were used as money
in 1857...fair enough...I know a large number of these coins must have been shipped back from
California in sealed letters as souvenirs and the SSCA was also carrying mail, however those pieces
must have drifted away within their envelopes.

So yes passenger's gold equates more CALS being recovered ....but we are still talking about less than
$100 1857 face value on a ship carrying over $1.2 million dollars in gold at 1857 prices.

Most of the Period 1 pieces are lightweight and their small size made them an attractive souvenir.
So while they originally were made to circulate they probably for the most part became
souvenirs before the end of Period 1.

Still it is amazing that they recovered these pieces from such a great depth.
I don't know if any were found in the pokes of gold dust.
It would have been hard to hang on to these pieces because of their small size.

I helped put together BG 2. I don't know if there will ever be a BG 3. Mike Locke at calgoldcoin.com
and Bob Leonard are the true experts in this field.....

Insider2

@MrEureka said:
If you really want to know what circulated and what did not, take a look at the population reports. If all known specimens are uncirculated, that's a pretty good clue that they were probably never used as money.

Actually not. Many of these pieces from every period were somehow preserved in TRUE MS condition (no trace of wear) when viewed under magnification.

RogerB

This might help:

Manufactured by Hershfield & Mitchell, Leavenworth, Kansas. Proprietors arrested and Mint asked for guidance on legality of "Californian 50-cent gold coins." Mint assay showed only about 50% of face value in gold.

“Most of the coin are put in circulation by being enclosed in prize candy packages and then disposed of on the [street] cars.”

U.S. Attorney for Kansas
Aug 23, 1871

MrEureka

@Insider2 said:

@MrEureka said:
If you really want to know what circulated and what did not, take a look at the population reports. If all known specimens are uncirculated, that's a pretty good clue that they were probably never used as money.

Actually not. Many of these pieces from every period were somehow preserved in TRUE MS condition (no trace of wear) when viewed under magnification.

I wasn't suggesting that a mint state coin proves that the issue didn't circulate. I was suggesting that the existence of circulated coins indicate that the issue circulated. And that, likwise, the non-existence of circulated coins indicate that the issue probably didn't circulate. It sounds ridiculously obvious, but it's an important point.

ricko

@CaptainBlunt ... .Thanks for the history associated with these little beauties... imagine how many of these tiny pieces are forever buried in the ocean depths....Cheers, RickO

RogerB

Any of the phony pieces that ended up in sea water have likely been eroded to dust by now. A gold alloy much below 90% will be consumed.

topstuf

@ricko said:
@CaptainBlunt ... .Thanks for the history associated with these little beauties... imagine how many of these tiny pieces are forever buried in the ocean depths....Cheers, RickO

Many were "buried" under the old wooden sidewalks when they restored Columbia, CA to Columbia State Park.

http://www.visitcolumbiacalifornia.com/