Menu
Welcome Sign-In | Join Now
Sold for Sign-in or Join (free & quick) includes Buyer's Premium (BP) 

Description

Important 900 Fine 1852 U.S. Assay Office Slug

1852 $50 Assay Office Fifty Dollar, 900 Thous. AU58 NGC. K-14, R.5+. Just when all seemed to be fine in San Francisco, and it appeared that everyone would live happily ever after, a problem arose. On August 31, 1852, Congress passed the Civil and Diplomatic Bill, which included an amendment stating that customs officers could no longer accept payment with coins unless they contained 900 fine gold. All of the slugs to date had been issued in 880 fine or 887 fine gold, thus immediately became illegal for customs payments. The new law specifically stated that acceptable coins had to conform to the Mint Act of January 1837, stating that coinage metal had to be 900 fine, with alloy containing not more than half silver and half copper. As native California gold was alloyed mostly with silver, and copper was extremely rare on the West Coast, it would be virtually impossible to comply with this law. San Francisco customs collector T. Butler King apparently overlooked the silver to copper ratio requirement and accepted 900 fine gold coinage, even if it contained too much silver and not enough copper.
This is a wonderful slug with attractive green-gold surfaces and traces of pale orange toning. Like others in the present sale, it is lightly worn on the highpoints, and yet the surfaces are excellent quality. It is sharply struck and has few detrimental problems. Listed on page 351 of the 2007 Guide Book.
From The Long Beach Family Collection. (PCGS# 10019)

View all of [The Long Beach Family Collection ]

Service and Handling Description: Coin/Currency (view shipping information)

Sales Tax information  | NGC Coin Grading Guarantee  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Glossary of Terms

Auction Info

Auction Dates
August, 2006
13th-14th
Internet/Mail/Phone Bidders: 8
Members Tracking: N/A
Page Views: 427

Buyer's Premium per Lot:
15% of the successful bid (minimum $9) per lot.

Heritage membership

940,743
bidder-members
$883,393,574
sold in the last year

Join Now - It's Free

VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 

Consignments wanted

Only 4 days left to consign to the 2015 September 16 - 21 US Coins Signature Auction - Long Beach!

Learn about consigning with us

Everyone was raving about the way it got the word out as well as how it generated so many pre-bids.
Craig,
Tustin, CA
View More Testimonials

HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com

Video tutorial

Getting the most out of search

Recent auctions

2015 July 9 - 12 Summer FUN US Coins Signature Auction - Orlando Summer FUN
2015 July 9 - 12 Summer FUN US Coins Signature Auction - Orlando Summer FUN
REALIZED $8,332,129
2015 April 9 - 14 CICF World Coins & Ancient Coins Signature Auction - Chicago
2015 April 9 - 14 CICF World Coins & Ancient Coins Signature Auction - Chicago
REALIZED $6,503,481
2015 April 22 - 28 CSNS Currency Signature Auction - Chicago
2015 April 22 - 28 CSNS Currency Signature Auction - Chicago
REALIZED $10,592,191

© 2015 Heritage Auctions | All Rights Reserved