California gold coinage
Encyclopedia
California gold coinage was produced from the early 1850s until 1882. In the early period, from roughly 1852 through 1856, the coins were made for actual use due to a lack of familiar small denomination
currency in the California gold fields
. This shortage eased around 1856 and the gold coin
s made in the later period appear to have been intended only as souvenirs. They generally show little circulation
wear and contain less gold than would be expected from their face value
.
California gold was made in denominations of $1, 50 cents, and 25 cents. As a result, the coins were quite small. Some are round; others octagonal. They were issued by private businesses, usually jewelers
, and were often hand-struck.
Denomination (currency)
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:...
currency in the California gold fields
California Gold Rush
The California Gold Rush began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The first to hear confirmed information of the gold rush were the people in Oregon, the Sandwich Islands , and Latin America, who were the first to start flocking to...
. This shortage eased around 1856 and the gold coin
Gold coin
A gold coin is a coin made mostly or entirely of gold. Gold has been used for coins practically since the invention of coinage, originally because of gold's intrinsic value...
s made in the later period appear to have been intended only as souvenirs. They generally show little circulation
Circulation (currency)
The social system in which we live has usually developed to the stage for money to be used as the medium for the exchange of goods and services. Hence the money is an important aspect of the general social or macroeconomics system...
wear and contain less gold than would be expected from their face value
Face value
The Face value is the value of a coin, stamp or paper money, as printed on the coin, stamp or bill itself by the minting authority. While the face value usually refers to the true value of the coin, stamp or bill in question it can sometimes be largely symbolic, as is often the case with bullion...
.
California gold was made in denominations of $1, 50 cents, and 25 cents. As a result, the coins were quite small. Some are round; others octagonal. They were issued by private businesses, usually jewelers
Jewellery
Jewellery or jewelry is a form of personal adornment, such as brooches, rings, necklaces, earrings, and bracelets.With some exceptions, such as medical alert bracelets or military dog tags, jewellery normally differs from other items of personal adornment in that it has no other purpose than to...
, and were often hand-struck.