Because it looks like gold but really isn't gold. It is pretty common to find, unlike gold, so it's value is pretty small.
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John Sutter thought he found gold but what he really found was fools gold so his friends called him foolish and he named thins town sutters folly.
The forty niners were called the forty niners because the gold rush was in 1849.
Gold was discovered in California in 1849The people who looked for gold where called the fourty-niners which stands for (1849)And in the period of time when gold was in California there was so much gold that they called it the gold rush and the gold rush brought more than 100,000 people to California and the rest of the United States
People were called 49ers b/c the gold rush happened in 1849, sum 80,000 people migrating to California in search of gold. People in fewer numbers also migrated in 1848, they were called 48ers.
assuming you are referring to the $20 coin, it was called a Saint Gaudens