Expert: PAPAJACK - 7/21/2009

Question
I have one of these coins and would like to know if it's authentic.  I live near Salt Lake City, is there a shop that can verify this for me.  If it is authentic, what is it's value?

Answer
Hello again Cliff,                      

Since you did not write me again I looked up some general dealers.
They are listed at the end of the answer.

I am not able to evaluate your coin without seeing it or a better description or Image online.
 
Can you give me a bit more information since these California gold fractional coins are a specialized field.

I need to know what design is on the coin and any other information that you can give me. These pieces are heavily counterfeited. And since there are a lot of fakes in this area of collecting here is some starter information until you get to a dealer.

There are over 500 varieties I have never seen oval fractional gold coins. All are round or octagonal in the half dollar denomination I've come across.
Authentic pieces have CENTS or Dollar or an abbreviation thereof on the reverse. The starting value is about $120 dollars each.

A bit of history on CALIFORNIA FRACTIONAL GOLD coins.
San Francisco's population had swollen enormously by the early 1850's. There was a growing need for some of monetary exchange Gold dust and nuggets were common form of exchange, but not always to the satisfaction of all concerned. For this system to have worked, everyone would have to carry a scale as well as being able to reckon prices in some very different denominations.
The price of a drink was pinch of gold that was all the barkeep could get between his thumb and forefinger when he reached into the miners poke. If the barkeep had a hand the size of a catcher’s glove that could have lent itself to a mighty expensive drink!

The need for a more standard form of monetary exchange gave birth to many of the territorial gold coins from the San Francisco area that are so very valuable today. One of the first to appear in May of 1849 was the 500 dollar coin of Norris, Grieg & Norris. There were many others that soon followed five dollar, ten dollar and twenty dollar coins all helped greatly in filling the need for a more consistent form of monetary exchange. However, for conducting the businesses of everyday life, a form of small change was needed to complete the system. This was the reason behind the production of California Fractional Gold coins.

There are three denominations in the series (25¢, 50¢, and $1.00) and each denomination is found in both round and octagonal types. There are many unique and semi-unique pieces in the series. With even the most common pieces having a population of less than 200 (with the exception of the Kroll hoard, to be discussed later!, every piece of Cal. Gold that you might encounter is truly a rare coin. It is the belief of this writer (and many other students of the series) that less than 30,000 pieces exists for entire series.

Period One (1852-1858)
The Cal. Gold coins of Period One. I believe were used during the California Gold Rush as circulating small change. I also believe that the production of these stopped at the tune that the San Francisco Mint went into full scale production. Simply the need for Cal. Gold of uncertain value was diminished by the Mints productions of fully trust worthy coinage in the bay area.

Period Two (1859-1883)
The production of the Period Two coins lasted for over two decades. In 1883, Col. Henry Finnegass, San Francisco District, Chief of Operations for the U.S. Secret Service, seized dealer's stocks of Cal. Gold using the reasoning that manufacturers of these pieces of these pieces were in direct competition with the U.S. Mint. I believe that many pieces dated 1857 and 1858 were made at this time because the Secret Service deemed all Cal. Gold pieces minted after 1882 would be confiscated!

Period Three (dates uncertain)
Period Three coins still generate the greatest controversy in the field. Many producers late as the early 1900s were minting large quantities of low-karat and low-quality pieces. One of the main producers was a New York jeweler named Herman Kroll who made coins of all three denominations. Most were of 9kt gold and of poor quality. Kroll sold 811 pieces to A.C. Nygren sometime between 1883 and the early 1900's which were sold by Henry Chapman in his 1924 auction of the Nygren Estate coins. In the 1960's some of the Kroll's dies surfaced and their new owners made re-strikes which were of much higher quality than the originals, and some of which were as pure as 22 Kt. Most were on thinner planchets and have reeded edge, rather than the plain edge of on the originals. The ANA dealers listed here are ANA members in good standing and have agreed to abide by the ANA Dealer Code of Ethics.
I myself have no dealing with the businesses listed. A search returned the following ANA Authorized Member Dealers:

H. Campbell
1123 E 2100 S
Salt Lake City, UT 84106-2801
Phone: (801) 467-8636

Muller Robertson Coins
PO Box 9088
Salt Lake City, UT 84109-0088
Phone: (801) 973-2300

Royal Scandinavian Mint
PO Box 3690
Salt Lake City, UT 84110-3690
Phone: (801) 733-0896

Rust Rare Coin Inc
252 E 300 South
Salt Lake City, UT 84111-2419
Phone: (801) 363-4014

Thank You and Good Luck

PapaJack