1848 P Coronet Head Gold $2.50 Quarter Eagle : Cal

Liberty Head - Early Matron Gold Coins

Mintage: 1,389
Minted at: Philadelphia

Designer - Engraver: Christian Gobrecht
Metal Composition: 90% Gold - 10% Copper

Diameter: 18 mm
Mass / Weight: 4.18 grams

What this coin looks like (obverse, reverse, mint mark location, special features, etc.):
1848 CAL. Liberty Head $2.50 Gold Quarter Eagle - 2 1/2 Dollars
One major variety is the 1848 CAL. Liberty Head $2.50 Gold Quarter Eagle. This is an extremely special and rare coin related to the California Gold Rush.

A man named James Wilson Marshall first found California gold at Sutter's Mill on January 24th of 1848 - which later resulted in the massive gold rush shortly thereafter. Later that year in December - the Secretary of War (William L. Marcy) received 228 ounces of newly minted California gold from the Military Governor of California (Col. R.B. Mason). Marcy then had the gold transferred to the Philadelphia Mint with the instructions to use this gold to produce Congressional Medals for military General Zachary Taylor and General Winfield Scott. Any gold that was left over was to be used to produce gold Quarter Eagle coins - which bear the letters "CAL." just above the eagle on the reverse of the coin. "CAL." signifies that this gold came specifically from the California gold rush. An example of this coin is depicted above. Source of example image is courtesy of Heritage Auction Galleries.
Coin valuation chart: Typical coin prices, values and worth per grade or condition - in USD
Good
(G-4)
Very Good
(VG-8)
Fine
(F-12)
Very Fine
(VF-20)
Extremely Fine
(EF-40)
About Uncirculated
(AU-50)
Uncirculated
(MS-60)
Uncirculated
(MS-63)
Proof
(PR-63)
---34,11043,29351,77284,259123,166-

MELT VALUE: $142.63


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