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Image of United States, 2 1/2 Dollars, 1848
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Materials: Gold
Measurement: Dia. 17.8 mm, Wt. 4.180 g
Source: J.K. Lilly
Note: Breen 6169

United States, 2 1/2 Dollars, 1848

In 1848, the largest single gold rush in history was just getting under way in California. This event triggered a mass migration of fortune hunters from around the world. The territory had only recently passed into American hands as an outcome of U.S. victory in the Mexican War. The new California military governor Col. R. B. Mason sent 230 ounces of native bullion to the Secretary of War, who in turn passed the gold on to the Mint.

Much of this first shipment went into large, honorific medals Congress authorized for the winning American generals in the war, Zachary Taylor and Winfield Scott. Scott’s medal is in the Smithsonian Collection. The rest of the gold was used to make "quarter eagles," or 2 1/2 dollar gold pieces. These became some of the most legendary coins in American numismatic history.

The basic design was standard: the head of Liberty was on one side, a somewhat bellicose eagle on the other. The mint had been striking quarter eagles with these designs for nearly a decade. But closer scrutiny showed that these coins had one odd feature: above the eagle on the reverse, the initials "CAL." These were added by means of a punch.

Precisely 1,389 quarter eagles marked with the CAL stamp were made. Less than 200 still exist. They bear poignant witness to the colorful history of the American West.
Related Events
1832: President Andrew Jackson vetoes the charter of Bank of United States, abolishing the institution.
1838: Branch mints open in Dahlonega, Ga., Charlotte, N.C., and New Orleans, La.
1848: Gold is discovered at John Sutter's mill in California.
1850: California is admitted to the Union as the 31st State.
1861: U.S. Civil War begins when Confederate forces attack Fort Sumter, South Carolina.
Golden Legends The following objects are in this section.
Templeton Reid, 10 Dollars, 1830United States, 5 Dollars, 1838Oregon Exchange Company, 5 Dollars, 1849Clark, Gruber & Co., 20 Dollars, 1860
Templeton Reid, 5 Dollars, 1830United States, 2 1/2 Dollars, 1848U.S. Assay Office, 50 Dollars, 1851 
Templeton Reid, 2 1/2 Dollars, 1830United States, 20 Dollars, 1849 (Pattern)Kellogg & Co., 50 Dollars, 1855 
Bechtlers, 5 Dollars, 1834Oregon Exchange Company, 10 Dollars, 1849United States, 50 Dollars, 1877 (Pattern) 
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