Expert: PAPAJACK - 3/21/2009

Question
1852 Indian Head Mint error 1/2 cent piece uncirculated.  Back of coin reads California Gold.  HAS 1/2 ON THE MIDDLE OF THE BACK AND A PICTURE OF A BEAR.  I FOUND THIS COIN IN 1977 IN THE BRONX, NY ENCLOSED IN PLASTIC.  ON THE CARDBOARD SURRUNDING THE FRONT OF THE COIN READS W514-1.  ANY CLUE WHAT THE VALUE MIGHT BE?

Answer
Hello Steve,

This is very likely a copy of a period one California Gold Half Dollar.

The coin would have to be seen to get a value. The original copies did contain gold. As time went on the amount of purity and content of the gold would drop off.

It may be a gold plated piece made for a souvenir or jewelry.

If you need a coin shop near you just write me back with the general location (nearest large cities) and some zip codes in your area, I can direct you to an AMERICAN NUMISMATIC ASSOCIATION MEMBER/DEALER near there. They are ethical and trustworthy.  

There are a lot of fakes in this area of collecting. Here is some starter information:
For the true pioneer gold half dollars;
Period One is considered from 1852 to about 1858.

The California Fractional Gold coins of Period One were probably used during the California Gold Rush as circulating small change.

I also believe that the production of these stopped at the time because the San Francisco Mint started making all coins on a full scale production. Therefore the need for the fractional gold pieces that were of uncertain value was diminished by the Mints productions of fully trust worthy coinage in the bay area.

Thank You and Good Luck

PapaJack