The Massachusetts & California Company half eagle is among the rarest and most elaborately designed of all Pioneer Gold issues. Today, we know of only three gold Massachusetts and California $5s from this pair of dies, two of which reside in private collections. The finest known example is Choice Mint State and was struck from an early state of neatly polished dies, suggesting that it may have been intended as a pattern.
| coinage-type | Pioneer & Territorial Gold |
| desg | MS |
| edge | Reeded |
| material | Gold |
| mintage | 2 known |
| ngc-id | C4PW |
| obverse-description | Vaquero surmounted by an arm holding an arrow with a bear and stag on either side above a ribbon inscribed ALTA, 13 stars around |
| pcgs-link | 10232 |
| pcgs-number | 10232 |
| reverse-description | FIVE D. wreath with 16 berries around MASSACHUSETTS & CALIFORNIA CO. 1849 |
| variety | Mass & Cal, 16 Berry Rev. |
| variety-2 | K-1 |
| year-display | 1849 |