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Lot
6411

1851 $50 RE Humbert Fifty Dollar, 887 Thous. MS61 NGC. ...

2004 June Long Beach Signature Sale #349

 
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Auction Ended On: Jun 3, 2004
Item Activity: 4 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Uncirculated 1851 Humbert Fifty Dollar 887 Thous.
1851 $50 RE Humbert Fifty Dollar, 887 Thous. MS61 NGC. Reeded Edge. K-6, R.4. An important Mint State example of this large format territorial gold coin. The Assay Office in San Francisco actually did very little in 1851 to help alleviate California's need for a circulating medium. What they did under Humbert's leadership was to convert the raw gold dust, that had previously been used as currency, into these large $50 so-called "slugs." Smaller denominations would follow, but these are the initial emissions from the Assay Office, an official U.S. government office that acted as a de facto Mint until the actual Mint opened in 1854.
Many of these "slugs" have numerous rim bumps and nicks due to their massive size, as does this example. Minor rim irregularities that were on the planchet at the time of striking are noted at 1 o'clock on the obverse and at a similar position on the reverse. The target reverse has a vertical blemish above and just to the left of center and a few others of relatively minor consequence. An attractive reddish patina highlights the lustrous green-gold surfaces and the strike displays normal deficiency on the obverse devices. Listed on page 289 of the 2004 Guide Book. (#10214) (PCGS# 10214)

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