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USA, California 1851 "887" Humbert "slug" 50-Dollars XF45
USA, Territorial California Gold, octagonal shaped $50, 1851, Augustus Humbert Assayer, San Francisco, eagle, wings spread, with ribbon and shield, UNITED STATES OF AMERICA and "887 THOUS" on ribbon above, FIFTY DOLLS below, all within inner circle, outer legend AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA 1851, rev. machine made criss-cross of circular lines, reeded edge (Fr.36; KM 31.2a; Yeoman 2020 p.402). Toned, in NGC holder graded XF45, rare.
NGC Certification 582274-008.
Territorial gold issues were struck by various private individuals, assayers, bankers etc outside the United Sates Mint and were not receivable at face value for government payments. They circulated widely in commerce due to a shortage of regular coinage.
On 30th September 1850 Moffat & Co obtained a contract from the US Congress to perform the duties of the US Assay Office in California. Augustus Humbert was appointed US Assayer of Gold and stamped the first octagonal coin-ingots of the Provisional Government Mint on 31st January 1851. These pieces were accepted at par with US standard gold coins but were not officially recognized as coins; designated as "ingots" they were also known as "slugs", "quintuple eagles" or "5-eagle pieces".