Few coins invoke the history, drama, and romance of the wild west like the large $50 gold ingots, or “slugs” struck by Augustus Humbert under the auspices of the United States Assay Office of Gold in San Francisco. Containing nearly 2.5 troy ounces of gold, these massive pieces are impressive regardless of grade. As many were later melted as bullion and recoined at the San Francisco Mint, any example is a delight for collectors. Rarer still are the few examples that exist in Mint State grade.
We are proud to present an NGC graded example of the 880 THOUS., Target Reverse type, with reeded edge, identified as Kagin-5 as lot 11374 in our May 2025 Showcase Auction. This piece ranks among the finest graded by either grading service; NGC reports just three in MS-62 and a single MS-62+ graded finer. Certainly, worthy of its assigned grade, our cataloger’s description reads: “Warm olive undertones backlight dominant medium honey-gold color, the surfaces lustrous with a lively frosty texture. Overall striking detail is exceptional, accuracy alone compelling us to mention the often-seen softness on the central obverse high points. We stress, however, that the peripheral legend on that side is legible in full, with each individual letter crisp. The edges are remarkably smooth and free of the typically encountered large bumps and deep bruises. Also free of sizable surface marks, and while faint hairlines are present to explain the MS-62 grade from NGC, both the eye appeal and overall quality are exceptional for the type. This is an outstanding coin that combines absolute scarcity with condition rarity.”
The entire May Showcase Auction will be available for viewing and presale bidding at StacksBowers.com. Be sure to take a look at the photos, read the detailed descriptions, and prepare to bid aggressively on the nearly 375 lots being offered. If you are interested in consigning, we are still accepting consignments for our June 2025 Showcase Auction, as well as our Summer Global Showcase Auction. Our team of dedicated numismatists are just a phone call or email away, so contact us at 800-458-4646 or [email protected]. Do not hesitate to put our expertise to work to get you top dollar for your rare coins.
