The August 2011 Chicago ANA World's Fair of Money Auction

Auction # 115 | View Auction Schedule and Details

Pre-Bidding Ends: 8/18/2011 2:00:00 PM PST
Live Floor and Internet Bidding Begins: 8/18/2011 3:00:00 PM PST

Lot #7547. 1851 Augustus Humbert $50 Gold. Lettered Edge. K-4. Rarity-5+. 50D C, 887 THOUS, With 50 on Reverse. AU-55+ (PCGS). CAC.

Desirable 1851 Humbert Octagonal $50 "Slug"

887 THOUS, Lettered Edge, 50 Reverse

Description:

An important coin, and the sole recipient of the "+" designation for the variety in any grade at PCGS. Deep golden surfaces display an olive cast with intense orange highlights in the protected areas. Surprisingly well-preserved with some tiny edge bruises that are far from serious and far less obtrusive than typically seen for the issue, and with a few other scattered blemishes—we're certain that in-hand inspection will convince you this specimen is entirely deserving of the PCGS "+" designation! The edge of this elusive variety reads AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA 1851, while the reverse exhibits a sunken 50 at the center of the design. Humbert's numerous gold issues were accepted almost universally across the board in local commerce due to their reasonably accurate gold content—more than one firm's products could not measure up to the purity of the Humbert pieces, and they were eventually put out of business in the region as a result. Humbert, a New Yorker and a watch case maker by trade, made such a sterling reputation for himself in the San Francisco region that he was appointed United States assayer. His office was generally regarded by many as a provisional government mint and became "official" under the auspices of the Act of September 30, 1850, which established the federal Assay Office of Gold in San Francisco; this eventually became, after a few years of varied shenanigans, the United States Mint in San Francisco. The assay office closed for good in December 1853 in preparation for the new U.S. Mint's activities, though Humbert's "slugs" circulated widely even after the opening of the government money factory. The present lot represents a well above-average example of an historic and desirable issue, a coin with as much character as some of the '49ers who no doubt used it in commerce it at some point in its history.

PCGS Population: 1; none finer within the "+" designation. The total PCGS Population for the date, including the sole "+" specimen offered here, is: 6 at AU-55; 5 finer (MS-62 finest).

PCGS# 10208.

From the Rajj Collection. Acquired by our consignor from Stack's Coles Collection, October 1983, lot 216. Lot tag included.