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Lot
1969

1851 $50 RE Humbert Fifty Dollar, 880 Thous. XF45 NGC....

2009 October Signature US Coin Auction #1130

 
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Auction Ended On: Oct 23, 2009
Item Activity: 10 Internet/mail/phone bidders
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Location:

Heritage Auctions
3500 Maple Avenue
Dallas, TX 75219

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The Saint Charles Convention Center
Booth 501
Saint Charles, MO 63303

 

Description:
Outstanding 1851 Humbert Fifty Dollar
880 Thous., K-5, Choice XF
1851 $50 RE Humbert Fifty Dollar, 880 Thous. XF45 NGC. Reeded Edge, No 50 on Reverse. K-5, Low R.5. The State Assay Office of California was opened in 1850, but it was a marginal success, impeded in its operation by bankers and others who refuse to accept its ingots, hoping to glean added profit by performing such assays themselves. There were increasing demands for an official U.S. branch mint. A compromise was reached whereby the United States would establish an Assay Office in San Francisco that could act as a sort of pseudomint until the issue could be taken up again in the next session of Congress. While some might debate whether the U.S. Assay Office issues should be considered "regular" U.S. coins, there is no question as to their historical significance.
Delightful medium-yellow patina enhances the surfaces of this moderately circulated specimen. The lower portion of the eagle and the peripheral legends show the usual softness. Both sides have a number of tiny abrasions, as commonly seen on these large-size pieces, but there are no marks of individual significance. An excellent example of this scarce and popular issue, listed on page 364 of the 2010 Guide Book.
From The Mulkin Collection. (PCGS# 10211)

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