Looks like a $1.00 gold Liberty round coin. Minted by a private mint, not the US mint. A California gold piece from the gold rush. Should be in the Red Book.
A fractional gold coin is any gold coin that weighs under 1 troy ounce, so the answer to your question would be yes. !4 K means that you're coin is 58% gold. I'm not sure if its a fake of some coin, or just a coin I've never seen. It definitely not U.S. coinage, because the only coin they had then that was $1 gold was the Indian Princess Head. Hope that helps.
California fractional gold coin, and a nice one! Here's some info. 1868 ROUND LIBERTY BG-806 G25C MS | Coin Explorer | NGC
You're thinking of fractional bullion rounds. California fractional gold is a whole separate topic, covering gold coins that represented a fraction of a dollar. (Pre-1933 ten-dollar gold eagles are well under an ounce, but we don't call them "fractional"!)
@ElishaCollectsForever Jeff hit this one. It’s a privately minted California gold piece that circulated in the U.S. during the coin shortage of the gold rush days.
It looks like the 1 is over 4. So not a dollar. But yes on fractional. IDK if it is real or not, this is a very heavily faked area. It looks good.
