Lot 768
1852 U.S. Assay Office $50 Gold, 887 THOUS. NGC graded MS-60. A nice untoned example that shows a bold strike, rich golden luster and bold visual appeal. A coin always in demand for its official status, and of course because of its immense size and weight. The U.S. Assay Office of Gold put an end to the practice of private gold minters charging 50% or so to buy gold dust and turn that into coins, so the miners were given a much better deal with transaction costs from mine to mint of about 2.75%, far lower than had been experienced by most in that era. Other territorial coins were soon melted and turned into these large $50 pieces.
The obverse here shows an eagle with outstretched wings standing on rock and clutching a shield and arrows. The long waving scroll held in its beak reads LIBERTY, above the eagle on a raised ribbon is 887 THOUS the purity of the coin in hand. Surrounding the eagle is UNITED STATES OF AMERICA and below is FIFTY DOLLS. In small size lettering around the eight sides and just beyond a beaded border is AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA 1851. The entire reverse is the engine turned design. Few coins aside from these immense $50 octagonal gold coins can capture the full historic sensation of the Gold Rush, and holding one in your hand elicits unending history and stories of times long ago. Pop 5; 6 finer, 3 in 61, 3 in 62. Estimated Value $75,000 - UP
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