Looks like it could be brass... If it is gold (presuming 22k) with a weight of 3-5 grams you're looking at 130-240$
The bear on the reverse is the first clue that the piece is not genuine. (That is IF that is a bear on the reverse. The photo is terribly out of focus so I can't tell for sure what it is.)
Hi thomasg, I also have a Calif. gold token I'm pretty sure it also is not genuine. I belive they struck several types of these little cuties (havent figured out why yet) Mine is dated 1853. My question would be was mine actually struck in that year maybe adding a little more value to it. Will post a couple of pic's here and a couple for size comparison along side one of my Indian Head Pennies