BG-1106, 1869 California Fractional Gold $1, Liberty Octagonal NGC MS62PL R4+

This rarity was crafted and produced by the jewelry firm of Robert B. Gray and Company of San Francisco in 1869. NGC has graded 2 of the BG-1106 pieces as MS62PL with 8 finer.

Note the distinctive 'G' mintmark for Gray on the obverse. The obverse has a detailed, professionally crafted Liberty head design, inspired by the federal issue of the day, but with touches that are unique to Gray and Company. The reverse has ‘CALIFORNIA’ at the top near the rim. Inside a wreath with berries is ‘GOLD. 1 DOLLAR 1869.’

A nice touch is the two leaves that are found on both sides of the ‘1’. All in all, the diesinker for Gray and Company did an excellent job. Their shop was located at 616 Merchant Street. It was either the year 1858 or 1859 that Gray purchased the business of another San Francisco jeweler and fractional gold manufacturer, Antoine Louis Nouzillet, including all of his dies, hubs, and punches. Two years after this variety was struck, in 1871, Gray sold his business interests to the Levinson Brothers/California Jewelry Company.