Presentation is loading. Please wait.

Presentation is loading. Please wait.

California Fractional Gold And the California Gold Rush of 1848 Presented by Rick Raines.

Similar presentations


Presentation on theme: "California Fractional Gold And the California Gold Rush of 1848 Presented by Rick Raines."— Presentation transcript:

1 California Fractional Gold And the California Gold Rush of 1848 Presented by Rick Raines

2 Sutters Mill – June 1848 The headlines read Gold is Found The headlines read Gold is Found San Francisco grew from 5,000 to 50,000 in one year. San Francisco grew from 5,000 to 50,000 in one year. Prices Surged and there was very little money to change hands. Prices Surged and there was very little money to change hands. All they had was Gold Dust All they had was Gold Dust {Keep in mind that the San Francisco Mint did not open until 1849} {Keep in mind that the San Francisco Mint did not open until 1849}

3 What to do with the Gold? Ingots Ingots Private Minted coins Private Minted coins Bechtler Bechtler Moffat Moffat Kellogg & Co. Kellogg & Co. Many others – Coins from $50 slugs to $1 coins Many others – Coins from $50 slugs to $1 coins Make Jewelry Make Jewelry

4 Coin shortage of early US Coins were in drastic shortage during the first century of our country. Coins were in drastic shortage during the first century of our country. Coins were used from many countries in the New World Coins were used from many countries in the New World French Franks, Spanish Reals, English Shillings French Franks, Spanish Reals, English Shillings These were common place until the 1860s, especially out west. These were common place until the 1860s, especially out west.

5 Jewelers Needed to make a Buck There was a great need for small denomination coinage ( ) There was a great need for small denomination coinage ( ) Jewelers had gold available Jewelers had gold available Most Jewelers were on Market street Most Jewelers were on Market street Market street

6 What did the Jewelers make? Produced small gold coins from the scrap in denominations of 25¢, 50¢ and $1 Produced small gold coins from the scrap in denominations of 25¢, 50¢ and $1 Typically weigh around.25g for 25¢,.50g for 50¢ and 1g for $1 tokens Typically weigh around.25g for 25¢,.50g for 50¢ and 1g for $1 tokens Were typically valued from % of face value. Were typically valued from % of face value.

7 What makes a token a true Cal Gold Token? Will have the denomination (forms) Will have the denomination (forms) Cent, Cents, Doll., Dol., D., Dollar, ¼, ½, 1, 25, 50, Half Cent, Cents, Doll., Dol., D., Dollar, ¼, ½, 1, 25, 50, Half May say California Gold, Cal., Cal. Gold, Cal Gold or may say nothing May say California Gold, Cal., Cal. Gold, Cal Gold or may say nothing Most have the date Most have the date Will never be dated before 1852 Will never be dated before 1852 May be dated between May be dated between Will never have a bear on the reverse Will never have a bear on the reverse Can be Octagonal or Round Can be Octagonal or Round

8 You tell me?

9

10

11 Rarity Scale Modified Sheldon Scale Modified Sheldon Scale Unique = 1 known Unique = 1 known R-8 = 2-3 known R-8 = 2-3 known High R-7=10-12 known High R-7=10-12 known Low R-7= known Low R-7= known R-5=46-60 known R-5=46-60 known R-2 = known R-2 = known

12 Periods Period to 1856 Period to 1856 These believed to have circulated in California as coinage These believed to have circulated in California as coinage 3 denominations, 200 varieties, believed only exist 3 denominations, 200 varieties, believed only exist Period Period These believed to be mostly tokens collected or sent as gifts from California These believed to be mostly tokens collected or sent as gifts from California 3 denominations, 450 varieties, believed 4000 exist 3 denominations, 450 varieties, believed 4000 exist Period 3 – 1880s – 1920s Period 3 – 1880s – 1920s Do not have denominations Do not have denominations Dated from 1851 but made from Dated from 1851 but made from

13 Period 1 Many Jewelers made these coins Many Jewelers made these coins Joseph Bros. Joseph Bros. Frontier, Deviercy & Co. Frontier, Deviercy & Co. Nouizillet Nouizillet Gaime, Guillemot & Co. Gaime, Guillemot & Co. M. Jorden M. Jorden M. Deriberpie M. Deriberpie Several Unknown makers Several Unknown makers Most believed to have circulated as coins Most believed to have circulated as coins Made before the San Francisco Mint was in full production on fraction coinage Made before the San Francisco Mint was in full production on fraction coinage Highly collectible in circulated and uncirculated grades Highly collectible in circulated and uncirculated grades

14 Period 1 BG 402 BG 201 BG 301 BG 529

15 Period 2 Many Jewelers made these coins Many Jewelers made these coins - -

16 BG-754 MS-64 POP 1/1 R-7 BG 799 BG 1207

17 Why did they end? Hershfield & Mitchell Hershfield & Mitchell Offices at 45 Delaware St., Leavenworth, Kansas in 1869 Offices at 45 Delaware St., Leavenworth, Kansas in 1869 In 1871 they received a letter from the secret service In 1871 they received a letter from the secret service Not guilty but spent $80,000 in defense Not guilty but spent $80,000 in defense

18 Period 3 Produced between Produced between Many have dates from 1850s Many have dates from 1850s Usually unknown makes Usually unknown makes Some thought of as counterfeits Some thought of as counterfeits Not highly collected Not highly collected

19 What can you find? Holed coins Holed coins Circulated coins Circulated coins Mint state – however these did not come from the Mint so well call them JS for Jewelers State Mint state – however these did not come from the Mint so well call them JS for Jewelers State Counterfeits – Tokens (watch out on Ebay) Counterfeits – Tokens (watch out on Ebay)

20 How to collect and the cost? Single coins Single coins $20 with hole to $25K for R8 Round $1 $20 with hole to $25K for R8 Round $1 By Denomination Type – most common ($10K+) By Denomination Type – most common ($10K+) (1) 25¢, 50 ¢, $1 octagonal, (1) 25 ¢, 50 ¢, $1 Round (1) 25¢, 50 ¢, $1 octagonal, (1) 25 ¢, 50 ¢, $1 Round By Jeweler By Jeweler By Liberty Head or Indian Head By Liberty Head or Indian Head By Period ($100K +) By Period ($100K +) Collectem all and go crazy! ($1MM ++) Collectem all and go crazy! ($1MM ++)

21 Authorities on the subject Breen – Gillio Breen – Gillio Mike Locke Mike Locke Don Kagin Don Kagin The late Jay Roe- PCGS registry set was 87% complete The late Jay Roe- PCGS registry set was 87% complete

22 Literature and Web sites Toughest thing is Attribution Toughest thing is Attribution Must join to use but no cost Must join to use but no cost A little difficult to use, but great information A little difficult to use, but great information California Fractional Gold, 2 nd edition, by Breen and Gillio California Fractional Gold, 2 nd edition, by Breen and Gillio The Jay Roe Collection, Auction Catalog, Bowers and Morena, 2003 The Jay Roe Collection, Auction Catalog, Bowers and Morena, 2003

23 Its really fun Not too many people even know much about them Not too many people even know much about them Still can find them raw and get a great deal Still can find them raw and get a great deal The history is fun The history is fun Youll get the GOLD FEVER Youll get the GOLD FEVER

24 Thank You! Happy Hunting


Download ppt "California Fractional Gold And the California Gold Rush of 1848 Presented by Rick Raines."

Similar presentations


Ads by Google