1848 $2.50 CAL. AU 58 CAL

  • $115,000.00

PCGS No: 7749
Type: Liberty Head $2.5
Year: 1848-P
Denomination: $2.50
Category: Liberty Head $2.5 (1840-1907)
Grade: AU 58 CAL
Certificate Number: 29259397


A gorgeous example of one of the most important gold rarities in the U.S. coin market! It all started after we put it to Mexico in the 1846-1848 Mexican-American War. The result of the treaty was that we bought California from Mexico for $10 million…and we also got Arizona, New Mexico and parts of Colorado, Nevada and Texas. It was obviously a good deal for us, but it got a lot better after gold was discovered in California!!!!! This is a game changing event not just for the United States but for the world. An estimated 300,000 people came to California to seek their fortune. In 1846, there were 200 residents in San Francisco. By 1852 it was a boomtown of 36,000. And California became a state in 1850. Our government knew it had something monumental going on. So about 230 ounces of California gold were sent back East by the military Governor of California. From this gold the Philadelphia Mint struck 1389 $2.5 Liberties. To designate the source of the gold the three letters “CAL” were impressed on the reverse above the eagle. It has been a famous U.S. old rarity for over 100 years. And note that many consider this to be the first U.S. commemorative coin. This beautiful specimen has mark-free semi-proof like surfaces. It glows with original bright gold luster. We feel it is very conservatively graded as it looks much nicer than the other AUs we have seen. A numismatic royalty coin !