During the California gold rush (which began in earnest in 1849 and reached a peak in 1852) small denomination coins were in short supply in the California territory. Local mints produced tiny tokens made of real gold with values of $1 or fractions thereof. You can read about them in various numismatic reference books. Genuine territorial gold tokens are worth hundreds of dollars --- if they are authentic and in nice condition. Far more commonly seen, however, are modern replicas. These are typically made of brass, perhaps plated with a thin coating of gold. Such tokens are of nominal value only, perhaps a dollar or so. (If a replica is made of solid gold, it is worth roughly the meltdown value of the metal.) Real territorial gold pieces usually have the word "dollar" along with a denomination on one side, and the year of issue with a Liberty head on the other side.
USA California 1880 Gold Half Dollars, 1874 Gold $1 BG1124 PCGS.
 1852 CALIFORNIA FRACTIONAL GOLD PROOF DOLLAR COIN/TOKEN  US $9.95
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 1881 CALIFORNIA FRACTIONAL GOLD 25c COIN/TOKEN US $9.95
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 1852 CALIFORNIA FRACTIONAL GOLD 50c COIN/TOKEN US $9.95
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 1852 CALIFORNIA FRACTIONAL GOLD PROOF DOLLAR COIN/TOKEN US $9.95
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 1876 CALIFORNIA FRACTIONAL GOLD 25cCOIN/TOKEN US $9.95
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 1876 CALIFORNIA FRACTIONAL GOLD 25cCOIN/TOKEN US $9.95
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 1857 California Gold 1/2 coin octagonal US $15.50
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 CALIFORNIA GOLD TOKEN 1/2 DOLLAR IN FLIP FRACTIONAL US $1.25
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 1870 California Half Dollar Gold Piece US $49.99
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 CALIFORNIA GOLD TOKEN 1/2 DOLLAR IN FLIP FRACTIONAL US $.01
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