1880 California Small Denomination Gold Octagonal Indian Head Quarter Dollar

Following the 1848 discovery of gold at Sutter’s Mill, the gold seekers that flooded the region came to realize that making change was nearly impossible. The San Francisco Mint hadn’t been established, and small denomination coins were almost non-existent in the West. To alleviate shortages, private companies struck dollars, half dollars, and quarter dollars in gold. Many of the tiny early coins circulated during the 1850s, filling the gap left by the lack of federal 25¢, 50¢ and $1 coins, while later issues served as souvenirs. Either octagonal or round, original issues show Liberty on the obverse, while later coins feature an Indian Head design.

Today, exact survival figures for these coins are uncertain – but all are scarce, very elusive and prized by collectors.