1851 $50 LE Humbert Fifty Dollar, 887 Thous. 50 Rev.--ASSAYER Inverted--MS61 PCGS. Kagin-4, Breen-7700, High R.5. This is a...
Bid InformationFor 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 BidBid 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 BiddersThis 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.
Reserve (If Any) Not Posted Yet:
Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.
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.
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.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
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.
BP - Buyer's Premium per LotA 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 SoldThis 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:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
- You may take up to four (4) months to pay the balance (monthly payments of at least 1/4th of invoice total).
- Minimum down payment is 25% within two weeks of the sale date. All down payments made beyond this 2 week window will require a 35% down payment, and the term will be shortened to 3 months.
- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
- There is no penalty for paying off early.
- Non-dealers only
- With pre-approved credit application
- Get pre-approved by filling out a credit application.
- Bid normally and win some lots.
- Heritage will maintain possession of all the lots until paid in full. Therefore, you must notify us of your intent to use our Extended Payment Plan on or before the day of the auction. All pre-shipped material must be returned to Heritage in order for the plan to be in effect.
- When you get your electronic invoice, select "other" from the payment options.
- Send an e-mail to EPPGroup@HA.com indicating the invoice number and your intention to use the Extended Payment Plan.
Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- You may take up to 6 months to pay the balance (monthly payments of at least 1/6th of invoice total).
- Minimum down payment is 20%.
- Payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
- Payments must be made using one or a combination of the following payment methods: cash, check, cashier's check, eCheck, money order, bank draft, bank wire or PayPal.
- There is no penalty for paying off early.
- Non-dealers only
SMS Alerts- Receive a text message approximately 35 lots ahead of your item being up for bidding at auction, with a link to bid in Heritage Live in the text message. Haven't registered? Visit MyProfile to sign-up for free by entering your mobile number. The green icon indicates Live Bidding Text Alerts are on for that lot. Live Bidding Text Alerts are only available for lots in live sessions.
Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
Senator William McKendree Gwin began service in Congress representing California as its first Senator in September 1850 alongside John Charles Fremont. Gwin worked closely with Senator Thomas Hart Benton, who coincidentally was Fremont's father-in-law, to pass a bill authorizing a branch mint in San Francisco. The bill met substantial opposition from those who were concerned that the California mint would create undesired competition for the other mints, including that in Philadelphia. Accordingly, on September 30, 1850, a bill was passed creating an assay office in California, sanctioned by Congress and serving as a branch of the United States Government. The United States Assay Office of Gold was authorized to produce ingots no smaller than $50 and no larger than $10,000.
Although they were not intended as money, it was a practical matter that these large gold pieces would actually circulate in California commerce. In fact, President Millard Fillmore anticipated such use and authorized the Collector of Customs to receive all issues of the new Assay Office in payment of tariffs, effectively declaring that the slugs were to be used as monetary issues of the United States.
The New York watchmaker, Augustus Humbert, arrived in San Francisco on January 30, 1851. In his possession were master dies bearing the design created by Charles Cushing Wright for the obverse, and by Humbert himself for the reverse. The first ingots were struck by Humbert the very next day, with full-scale production beginning two weeks later.
The obverse features the defiant eagle design below a scroll inscribed 887 THOUS with the fineness in incuse numerals. In the eagle's mouth is a ribbon inscribed LIBERTY. Previously, the scroll contained another fineness, 880. The legend UNITED STATES OF AMERICA around the outside is surrounded by a wide border on this massive octagonal gold coin. Below the eagle is are the raised letters D and C, preceded by another incuse 50 punched into the surface. The blank spaced were originally intended to allow for odd denominations rather than the usual 50 dollar denomination on all known examples. It is believed that the obverse design was prepared by the artist Charles Cushing Wright. On the reverse is the famous engine-turned design with an incuse 50 at the center. This figure on the reverse is inverted in relationship to the vertical or 360 degree "medal-turn" alignment. One of the most fascinating features of this slug is the edge, although it is only partially visible inside the PCGS holder. Each edge section of this eight-sided coin has different lettering as follows: AUGUSTUS / HUMBERT / UNITED / STATES / ASSAYER / OF GOLD / CALIFORNIA / 1851. On the first section, AUGUSTUS is inverted in relation to the remaining lettering. A few examples of this lettered edge variety are known with individual sections inverted relative to the remaining lettering. This is perhaps the only United States coinage issue with its date on the edge. We cannot think of any others.
A stunning example with fully brilliant greenish yellow-gold color and amazing eye appeal. This is without a doubt a coin that was carefully struck and lovingly preserved ever since. The fields on the obverse are fully reflective and prooflike, with every design element boldly rendered. On the ribbon, the 887 is incuse, and has replaced a previous 880 that was also hand-punched into the coin's surface. The reverse has the attractive engine-turned design which creates rays from the center with a nearly holographic appearance. Outside the reverse design, along the border, may be seen additional hints of prooflike reflectivity. Perhaps this example was intended as a special presentation coin or proof as our consignor has suggested. Perhaps it is one of those first pieces struck on January 31, 1851; samples of the $50 ingots soon to be produced in large quantities. Listed on page 296 of the 2005 Guide Book.
From the Great Western Collection of Private Gold Coinage.(#10208) (PCGS# 10208)
Service and Handling Description: Coin/Currency (view shipping information)