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Tuesday, 23rd June 2009 (563 views)

The 1848 'CAL' quarter eagle gold coin is in constant demand among collectors, it has been stated.

According to Numismaster, the coin is popular due to its low mintage and the fact that it was produced using a shipment of gold sent by Colonel Richard Barnes Mason to the then secretary of war Mr W Marcy.

The precious metal was delivered following a war between the United States and Mexico over the ownership of California and it was intended that the gold was to be used to make medals for heroes of the conflict.

However, 1,389 quarter eagles were produced with the remainder of the Californian gold and these were introduced into circulation to demonstrate that the capture of the state was worth the cost of war.

Due to their history, examples of the 'CAL' quarter eagles - so known because of a small inscription of the three letters on the reverse - can cost as much as $50,000 (£30,600).

In related news, a proposal to create gold coins to recognise the US Marshals Service was recently submitted by House of Representatives member John Boozman.

 

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