Teletrade to Auction Special Collection of California Fractional Gold Coins

IRVINE, Calif. – Teletrade, America’s largest fully automated Internet auction company for certified coins and currency, will auction “The Kovach Collection of Period One & Two California Fractional Gold” on Sunday, June 22, 2008, in online Auction 2546.

The auction will be live at www.teletrade.com from 3 p.m. to 10 p.m. eastern time and will include more than 1,500 certified coin lots. The complete auction catalog will be viewable on the Teletrade website beginning Friday, June 13.

California Fractional Gold has a storied history complete with touches of controversy that only adds to the mystique. The tiny small denomination gold pieces were privately issued during the California Gold Rush economy, hand-struck mostly by entrepreneurial San Francisco jewelers, as a result of the Federal government’s unwillingness to issue sufficient small denomination coinage.

“The Kovach Collection” is listed as the “3rd Finest Set of All Time” on the PCGS Set Registry, retired in June 2007, and Teletrade will auction more than 75 coins from the set in individual lots. The collection represents Period One, struck 1852-1856, and Period Two, struck 1859-1882.

“These tiny coins tell such an intriguing story of California and the Gold Rush, it’s easy to see why collectors of Fractional Gold find them so fascinating,” said Ian Russell, president of Teletrade. “This Registry Set is a tremendous accomplishment, and Teletrade is thrilled to be able to offer these coins to our customers. This collection is truly a part of numismatic history and California history, as well.”

Consignor Bill Kovach experienced his first California Fractional gold piece at the tender age of 10 at the coin counter in a downtown Detroit J.L. Hudsons department store. As his enthusiasm for collecting grew into his adult life, he purchased his first CalFract piece in the mid-1980s, a $1 coin, and from there expanded his collection to more than 150 prized pieces. He is now looking forward to sharing his collection with others of similar enthusiasm.

“Now it’s time for other collectors to have and appreciate these historic gems that I’ve had the pleasure of treasuring for so long,” Kovach said.

Highlights of “The Kovach Collection”

1853 50C BG-302 “Peacock” Type MS-62 (PCGS)
1853 $1 BG-531 MS-63 (PCGS)
1871 25C BG-718 MS-66 (PCGS)
1872 25C BG-722 W H MS-64 (PCGS)
1867 25C BG-741 MS-64 (PCGS)
1867 25C BG-742 MS-61 (PCGS)
1875 25C BG-783 MS-65 (PCGS) (ex. Jay Roe)
No Date 25C BG-834 MS-63 (PCGS)
1871 50C BG-1026A AU-58 (PCGS)
1870 $1 BG-1107 MS-63 (PCGS)
1875 $1 BG-1127 MS-64 (PCGS)
1870 $1 BG-1205 AU-55 (PCGS)

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About Teletrade

Established in 1986, Teletrade is the largest and most active marketplace for certified coins and currency with more than 165,000 registered bidders and over 300,000 lots featured in our auction system each year. Teletrade offers 25,000 to 30,000 coin and currency lots each month in auctions held every Sunday, Monday and Wednesday, plus special event sales on advertised Thursdays. Visit www.teletrade.com for detailed information on auctions and prices realized, or call 800.949.2646 to speak to a representative.