1851 "880" $50 LE Augustus Humbert, No "50" MS(PCGS#10196)

The June 2011 Baltimore Auction

拍卖行

Stack's Bowers

批号

9145

等级

AU55

价格

409,799

详细说明

1851 Augustus Humbert $50 Gold. Lettered Edge. K-2. Rarity-5. 50 D C, 880 THOUS, No 50 on Reverse. AU-55 (NGC). 1855-C Gold Dollar. Type II. Winter Variety 1 (9-K). AU-58 (NGC). The United States Assay Office in San Francisco, California was established pending opening of an official branch of the United States Mint in that region. The expedient of establishing an assay office in California during the early 1850s was&nbsp;urgently required, and for a number of reasons.&nbsp;The discovery of gold&nbsp;in California in 1848 resulted in a large migration of people to the West Coast, the creation of a booming economy that was initially starved for a viable medium of exchange and the need for a way to refine the newly mined gold into a form that was suitable for&nbsp;both circulation and transport to the business centers on the East Coast. With Augustus Humbert appointed as assayer, the firm of Moffat & Co. initially accepted the contract to serve as the United States Assay Office, their large fifty-dollar gold ingots soon gaining widespread acceptance among banks and merchants.<br /> &nbsp;&nbsp;&nbsp;&nbsp;The earliest Humbert fifties from 1851 display a lettered edge that reads AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA 1851. The specific type represented in the present lot lacks the number 50 in the center of the reverse, and it not quite as scarce as the K-1 and K-4 types with 50 on the reverse. K-2 is still very scarce in an absolute sense, of course, and our offerings of examples are usually few and far between. An evenly patinated piece, both sides are awash in deep, rich, olive-gold color. Wear is generally light and largely confined to the central obverse highpoints, and scattered small to large size abrasions are very common in an example of&nbsp;this hefty Territorial gold type. The most significant detractions are out of the way at and near the lower obverse border. An important find for the advanced collector specializing in Territorial gold