The Virginian Season 8 Episode 14 Black Jade

The Virginian takes a watch in trade for a whole beef while on a cattle drive from a black man, Cobey Jade, claiming to own a nearby town. Trampas recognizes the watch as belonging to an old friend and tracks the down Cobey who traded the watch to The Virginian. He finds himself and Cobey prisoners of an outlaw group led by an ex-Southner who takes his anger out on Cobey when they don't find the gold expected in the town.