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Lot 2434 |
1852 $50 Assay Office Fifty Dollar, 900 Thous. XF40 PCGS....
2008 June West Palm Beach, FL (Summer FUN) Signature Coin Auction #1110
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Bid Information
For your convenience, the bid information on this page automatically refreshes with the most up to date data so you don't have to refresh/reload this page.Minimum Next Bid
Bid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
Number of Bidders
This number represents the number of individual bidders prior to the close of Internet bidding on each lot. An individual who bids more than once is still counted only once. During the live session, only the winning bidder is included in this number, although detailed records are kept of all forms of bids.Status
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Consignor Has Not Yet Submitted a Reserve:
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
No Reserve:
This lot is being sold without a consignor reserve.
(Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserve Met:
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Minimum Bid:
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What's This?
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Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
What's This?
The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.Our Auction Results Archives now allow our members to make anonymous offers on items that may not be auctioned again for some time. Please note that the winner of this Heritage auction lot may or may not still own this item and may or may not be willing to sell.
This Make Offer to Owner (MOTO) program is still in the Beta Test phase, and we would appreciate any suggestions to help us improve our system. Please email your suggestions to Webmaster@HA.com.
Heritage retains 10% of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.
Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
BP - Buyer's Premium
A Buyer's Premium will be added to each successful bid. For this sale: 15% of the successful bid (minimum $9) per lot. Please see #2 in our Terms & Conditions.Not Sold
This indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.Opening Bid
The opening bid is the minimum amount required to begin bidding, and is generally a percentage of the low estimate.
| Sold for: |
$25,300.00
(includes BP  ) Bid Source: Internet |
| Auction Ended On: | Jun 27, 2008 |
| Item Activity: |
8 Internet/mail/phone bidders
1,829 page views |
Description:
Extremely Fine 1852 Assay Office Fifty, K-14, High R.5
1852 $50 Assay Office Fifty Dollar, 900 Thous. XF40 PCGS. K-14, High R.5. Although federal authorities in 1852 told the San Francisco customs collector that he could no longer accept coinage of fineness lower than 900, the local business community managed to accede to the unreasonable demand. Fortunately, the recent gold deposits were of higher fineness than previously, so the U.S. Assay Office was able to produce gold at the higher standard. After October 1852, according to Bowers' A California Gold Rush History, "nearly all ingots issued by the Assay Office were 900 thousandths fine." Coinage of the U.S. Assay Office fifty dollar ingots ceased in 1853, since they were no longer needed or wanted after the lower-denomination pieces began to circulate. Donald Kagin notes that the 1852-dated octagonal pieces with .900 THOUS on the ribbon above the eagle were "emergency issues of which 13,800 were made in January, 1853 and 10,000 in February, 1853." There was apparently no time for preparation of new 1853-dated dies, or perhaps such dies were viewed as wasteful in light of the various ten- and twenty-dollar issues in circulation.This piece shows orange-gold surfaces with moderate wear and evidence of contact consistent with the grade, and there are no major impairments or rim bumps evident, refreshingly so. The coin is solid and appealing for the grade. Listed on page 364 of the 2009 Guide Book.
From the Fern E. Wagner Trust. (#10019)
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Guides and Pricing Information:
Previous Prices from Heritage Auctions
| Lot | Date | Grade | Service | Realized |
|---|---|---|---|---|
| Auction 416, Lot 4813 | Saturday, September 16, 2006 | 40 | PCGS | $23,000.00 |
| View prices realized from this item in other grades (you must be signed in) | ||||
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PLEASE NOTE:
All prices realized reflect the final hammer price PLUS the buyer's premium
in auctions that charge a buyer's premium.
Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium.
All information listed is intended to be as accurate as possible, but errors are possible.
Please use this guide carefully and inform us of any inaccuracies.
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BP - Buyer's Premium
A "Buyer's Premium" is charged in addition to the successful bid according to the rate defined in our terms and conditions.Price Guide*
| Grade | Coin World (Coin Values) |
Numismedia Retail |
Numismedia Wholesale |
Numismedia NGC (nmn) |
Numismedia PCGS (nmp) |
PCGS Price Guide |
PCGS+ |
|---|---|---|---|---|---|---|---|
| 35 | --- | --- | --- | --- | --- | $27,000 | --- |
| 40 | --- | --- | --- | --- | --- | $30,000 | --- |
| 45 | --- | --- | --- | --- | --- | $33,000 | $34,000 |
| *All information listed is intended to be as accurate as possible, but errors are possible. No item may be returned or refused based on this information which is provided as a service to our customers. You should contact each pricing source directly to determine the accuracy of this information. | |||||||
Population Guide
| Service | Grade | Population in this Grade | Population of Higher Grade | Population in All Grades | + | Mintage | Engraver |
|---|---|---|---|---|---|---|---|
| PCGS | Not available from PCGS | 0 | |||||
| NGC | 40 | 4 | 45 | 52 | - | ||
| CAC | 40 | 1 | 0 | 2 | - | ||
| *This information is provided and owned by PCGS. Its display and use are subject to the licensed agreement between PCGS and Heritage Auctions. | |||||||
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We changed the way we image slabbed coins on February 1, 2010, in order to get a more accurate image of the coin. To get the sharper details and more accurate colors we have focused the lighting on the actual coin, which has caused the top of the holders to appear darker and milky. Please disregard the color of the holders when examining the images.
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