1851 "880" $50 LE Augustus Humbert, No "50"

Weight

83.6 g

Diameter

50 mm

Thickness

4.5 mm

Material

Gold

Shape

Round

Edge Type

Lettered

Technique

Struck

Front design

Eagle with outstretched wings, holding arrows and an olive branch, standing on a scroll inscribed "880".

Back design

Value "50" within a target-like design, surrounded by stars.

Year of Minting

1851

Ruler

NA

Mint location

Philadelphia

Mint mark

NA

Orientation

Coin alignment

Inscriptions

AUGUSTUS HUMBERT U.S. ASSAYER | CALIFORNIA GOLD

Context

: In 1851, Augustus Humbert began producing $50 gold coins at a provisional U.S. Assay Office. These large coins, also known as "Slugs", brought some sense of order to the chaos of the gold dust economy in San Francisco. Weights and purity became standardized, thus mitigating much of the cheating and dishonesty that marred business dealings during the Gold Rush. As with any first attempt, Humbert encountered several problems, mostly with the excessive number of steps required to produce a single coin. First came the striking of the coin itself, followed by hand-stamping each of the eight edges, punching "880" into the scroll above the eagle, and "50" in the field to the left of "D C" beneath the eagle. The Kagin-1 variety received an additional "50" stamp in the center of the target on the reverse; Kagin-2 did not. Many of the $50 Slugs were melted down over the years after becoming victims of their high face value. Numerous survivors show corner bruises or repairs to remove them. Others have been cleaned or repaired to present an acceptable appearance. Perhaps as many as a couple hundred examples survive in all. Very few Mint State examples are known, the finest of which is a single PCGS MS63+ currently in the Simpson Collection.

Rarity

Rare

Coin type

California Gold (1849-1855)

In circulation

NA

Demonetized

No

Marketplace listings

0