Offered is a sharp and inviting example of this classic rarity with a significant link to the California Gold Rush. Evenly toned in light honey-gold, both sides exhibit a soft satin texture to the devices and modest semi-reflectivity in the fields. This lovely near-Mint survivor is crisply impressed with virtually full definition to all design elements.In 1848 some 230 or so ounces of gold bullion from the recently discovered California gold fields was sent to Secretary of War William L. Marcy by Colonel R.B. Mason, acting military governor of California. Marcy turned the bullion over to the Mint, where it was used to strike some 1,389 quarter eagles. In order to denote the origin of the gold used for this special limited mintage, the letters CAL. were punched into the upper reverse field above the eagles head on all the specimens struck. This distinguishing feature marks the 1848 CAL. quarter eagle as our nations first commemorative issue, produced 44 years prior to the 1892 Columbian Exposition half dollar.Given the popularity of the California Gold Rush era with numismatists and other collectors, the 1848 CAL. has long enjoyed strong demand. Indeed, the acquisition of an 1848 CAL. quarter eagle is a defining moment in the formation of any collection. Survivors are scarce, and appearances on the open market are rare, so much so that even the offering of a lower grade example represents an important opportunity. Sharply defined and nearly in the Mint State category, the present coin would serve as a centerpiece in even the finest cabinet.
