Lot 2850
1852 U.S. Assay Office $50 Gold, 900 THOUS. NGC graded AU-53. Untoned and well struck. Small mark by the eagle's foot. The San Francisco Mint did not issue coins until 1854, but the West Coast economy, then in the midst of a boom, required growing supplies of gold coinage as early as 1849, the beginning of the gold rush. In 1851, the U.S. Assay Office in California became for want of a better term, the semi-official U.S. mint, under the charge of U.S. Assayer Augustus Humbert, who operated using the facilities of Moffat & Company, another early Territorial gold issuer. While Assay Office Fifties are not rarities, by the standards of Territorial gold, most are poorly preserved. They were used in circulation, where they received edge bumps, digs, and massive wear. Many were later melted, to be minted into Federal double eagles after 1854. Among the small number of choice About Uncirculated survivors this handsome piece shows few of the usual abrasions; it is not only choice, it is lustrous, and not only is the strike full and intricate, but of chief importance, the eye appeal is exceptional for the type. Pop 6; 21 finer.
Estimated Value $25,000 - 27,000.
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