2016-09-27 Tue

Numismatic Guaranty Corporation and Stack’s Bowers Galleries have identified a new variety of California Fractional Gold - the 1854 Octagonal California Gold Dollar.

Private mints in California minted these Fractional Gold Pieces in order to introduce smaller denominations in commerce. From 1852, 25 cent, 50 cent and one dollar denominations were minted.

The 1854 Octagonal California Gold Dollar did not match any of the known varieties listed in the reference book. The coin used the same reverse die as BG-529, with the two stars between GOLD and DERI, but the obverse was different considering the placement of both the head and stars.

Experts have listed the new variety as BG-529a. Such kinds of discoveries are made only once every four or five years and this particular coin has been given a grade of NGC AU 55.