Token US One Half California Gold 1852

The subject of California fractional gold coins and tokens is very complex. Originally, during the famous California gold rush of the mid 1800s, fortune seekers found themselves in then-remote California with a little gold, but no money. Standard US gold coinage denominated as low as 2 1/2 dollars, but that was way too much for small transactions. Private mints started making small 'fractions of a dollar' gold tokens worth (usually) 25 and 50 cents. Original and genuine Cal Gold coins and tokens are avidly collected and can be worth hundreds or thousands of US dollars today. A good place to learn about them is Mike Locke's Cal Gold page.

The subject token, shown in our picture, is not an original item from 1852. Instead, it was minted much later and back-dated to 'gold rush' times. It is not pure gold, but a low-quality gold alloy. It does not bear the denomination 'one half dollar' as that would violate Federal law. It is very thin, very small, and weighs very little. Typical values for the pictured token run like this:

worn: $10 US dollars approximate catalog value
average circulated: $20
well preserved: $50

To further complicate the subject, many Cal Gold fakes and counterfeits were manufactured to sell to tourists and as gifts and souvenirs. These are generally worth $1 or $2. It is difficult to differentiate genuine from fake Cal Gold coins. In fact, many of the genuine coins look like fakes, but they are not. Be sure to do plenty of homework before you buy anything labelled California Gold.
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