Collector Spotlight: Robert H. Lande

Bob Lande loves California Fractional gold coins. These Gold Rush-era coins are characteristically rare, obscure, and enigmatic. And the longtime collector will tell you off the bat that “he will never be able to finish” his collection. He even says as much in his PCGS Set Registry bio. But this doesn’t deter him. In fact, it compels him.

“The joy, the challenge, the fun that comes from gradually building a collection is in the quest, not the result,” asserts Lande. “If I could wave a magic wand and have a complete set of any type of coins I could imagine, that would be fun for only a day.”

It’s the journey that he’s been on since his childhood in the 1950s, when he’d ask his dad if he could check his change. It became a father-son ritual that led young Bob toward building – and completing – a variety of contemporary coin sets of the day.

By the late 1990s, Lande’s interest turned toward California Fractionals, which he found to be a challenge he could afford and that was “off the beaten track.” He focuses on Period 1 coins, which were privately struck due a shortage of official U.S. coins on the West Coast during the Gold Rush. These gold coins are so scarce that even the most “common” varieties have fewer than 1,000 known specimens, and many yield fewer than 10.

His favorite coin is an 1853 Eagle Round Dollar cataloged BG-604 by California Fractional experts Walter Breen and Ronald Gillio. One specimen of this ultra-rarity resides in his collection with some minor damage. “But there are only two others of this variety known. I might never get a chance to purchase an undamaged piece, so I purchased this one.”

Over his many years as a California Fractional collector, Lande has built a network of like-minded friends. “I have also gotten to know several dealers who I consider to be much more than just people with whom I have a business relationship. My collection would not be anywhere as complete or as fine as it is with the assistance, advice, and wisdom of specialists in the area.”

Lande’s passion for California Fractionals has helped him become one of the genre’s leading experts, landing him the esteemed role as a coauthor of the third edition of California Pioneer Fractional Gold. Originally authored by Breen and Gillio, the new book, due out in the next few months, sees Lande join lead author Robert D. Leonard and several other experts in updating a tome regarded as the authoritative work for this area of the hobby.

Lande recommends collectors beware of the many imitations and fakes of California Fractionals, which is why he sticks to PCGS-graded examples. “Without third-party certification I'd never even have started to collect ‘Cals’.” He also says many examples were formerly used in jewelry and frequently contain damage from bezels or mounts. “Don't ignore collecting ‘Cal’ jewelry and ex-jewelry pieces,” he says. “By collecting jewelry and ex-jewelry pieces you can have all of the fun and romance of collecting this incredible series at a fraction of the price. And for the rarest pieces, you might only find ex-jewelry pieces.”

He also offers a kernel of wisdom he gleaned from his mentor in the field, the late Jack Totheroh. “He counseled patience,” reflects Lande. “Unless the coin is one of the true rarities, it will be on the market again within a reasonable period of time. So do your research as to rarity, price, availability, and grading, and set a limit that you are willing to pay for each coin. Don't exceed the limit. It's fine if your collection only grows gradually.”