Lot 3495
1851 U.S. Assay Office $50 "Slug", 880 THOUS. Reeded edge. SEGS graded MS-63 Star, cleaned. One of the best strikes we have ever seen of this variety. All of the lettering in the outer border is clearly legible, the eagle and shield show nearly full details, and the engine-turning on the reverse is simply breath-taking to behold. The "cleaning" mentioned on the holder is slight and consists more of a dipping than any sort of harsh cleaning or polishing. The corners are all crisp, unbruised, and sharp. This massive hunk of gold was the U.S. government's answer to the call for a uniform, high-quality gold coinage in the California mining fields. These were not technically coins, but were referred to as "Slugs" or "Ingots." The reason they are so rare today is that most were taken up and melted once the San Francisco Mint began operations in 1854. Estimated Value $24,000 - 26,000
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