Lot 1379
1851 U.S. Assay Office $50 "slug", 880 THOUS. Reeded edge. NGC graded AU-50. Kagin-5. One of the most popular gold coins of the Territorial issues, this $50 gold "slug" doubtless worked hard in circulation briefly before being saved. There are a few minor rim bumps, as seen on most of these, they are quite heavy, and thus easy to drop. Furthermore, the reason for their name "slug" is that several were placed in a heavy sock, then the sock was used to "sock" a person in the San Francisco area knocking them out. The next day they would wake up on ship headed for Panama or other ports.
This coin has developed lovely reddish gold colors which enhance the devices. There are some typical surface marks, but nothing deep or annoying. The reverse design is the famous target, or bulls eye design. A fine example that is trouble-free and well worth a premium from a Territorial collector.
Estimated Value $9,000 - 10,000.
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| Realized $9,775 |
