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Lot
1989

1851 $50 RE Humbert Fifty Dollar, 880 Thous. AU53 NGC....

2009 September Long Beach, CA Signature US Coin Auction #1129

 
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Auction Ended On: Sep 11, 2009
Item Activity: 16 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:
Marvelous 1851 Reeded Edge Humbert Fifty
880 Thous., K-5, AU53
1851 $50 RE Humbert Fifty Dollar, 880 Thous. AU53 NGC. K-5, Low R.5. This variety features a large "target" design at the center of the reverse--a design purportedly done by U.S. Assayer Augustus Humbert, a former watchmaker, himself. California suffered from a severe coin shortage as early as the summer of 1848 and several steps were taken to alleviate the situation. One of the solutions was to have the U.S. Assay Office strike gold coins, which it did from 1851 to 1853. The following year the San Francisco Mint opened.
The U.S. Assay Office fifty dollar octagonal "slugs" are highly popular because of their impressive size and historical significance. Unfortunately for collectors, the large size of these coins and the soft nature of gold means that many show numerous bagmarks and rim defects. The present coin, however, is an above-average survivor with no significant marks and nearly unperturbed rims. Light hairlines in the field barely affect the splendid eye appeal. The eagle motif on the obverse is a bit soft, as almost always seen, but the rest of the details are crisp. Powerful luster shines throughout. Listed on page 364 of the 2010 Guide Book. (PCGS# 10211)

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