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These coins were issued privately starting in 1852 to fill the small change need in the old west by San Francisco jewelers to supply coins in the area during the gold rush. There are three periods of issue, 1852-6, 1859-1882, and after 1883. Period 1 coins are the only ones that circulated, period 2 were made mostly as souvenirs and charms, period 3 are more mysterious as to the reason they were produced, as most were back dated to avoid prosecution by the US secret service in violation of the law of June 8, 1864 prohibiting private coinage. The BG number is in reference to the work by Walter Breen and Ronald J Gillio cataloging these coins. This one has light wear and is undamaged, the strike is a bit soft, the luster has a somewhat prooflike effect. One of the scarcer issues.

Weight 1 lbs