Lot 2629
1851 U.S. Assay Office $50 "slug", 880 THOUS. Lettered edge, no 50 on reverse. Sharpness of AU-55 .The corner dents smoothed by an expert. Light marks on the reverse rims, but these are so inconspicuous as to be all but meaningless considering the overall impressive condition of this specimen. There is luster everywhere, including the eagle's wings and breast area and throughout the shield. What is more, the main design elements, rather than being soft in many areas, show incredible detail in the wings, the breast feathers, the vertical shield lines. Even the three arrowheads show, with only their shafts a little weak. There is also complete lettering around the maring, which, for those not too familiar with this grand 2-1/2 ounce Territorial gold coin reads AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA 1851. For it was Humbert who oversaw the assaying and minting process of the prolific Assay Office of gold in the days before the official federal mint opened in 1854. This piece has the standard engine-turned reverse pattern of crisscross curves, centered on a circular target. There is no lettering of any kind on this side of the piece. We call these $50 pieces coins, but technically (to sneak past the law) they were known in their day as "ingots" or, popularly, "slugs". Most California mined gold was in the neighborhood of 880 to 900 fine. Since parting acids weren't readily available to increase the fineness to mint standard of .900 fine until well into the middle of the decade, typical Territorial issues are found in varying finenesses such as 880, 884, 887, and 900.
Estimated Value $20,000 - 25,000.
Ex Charles Kramer Auction. Dec 1988 by STACKS and Superior Galleries, Lot #929.
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| Realized $21,000 |
