1851 Humbert $50. NGC AU55. 880 Reeded. 1851 Humbert $50 Reeded Edge .800 (K-5, Low R-5) NGC AU-55. Offered here is a lightly circulated example of these large and impressive gold coins. Struck during the first years of the California gold rush when federal money was virtually nowhere to be seen in California they helped to build and shape the western-most State, far away from civilization. Authorized by the United States Government they were struck under primitive circumstances by Moffat & Co., a private company which privately minted gold coins at first of the Five and Ten dollar denominations. The Pacific News printed the following on February 1, 1851:

The Coinage of Gold and Ingots
“At the last session of Congress, an act was passed, authorizing the manufacture of ingots and bars of gold, at the establishment of Moffat & Co., in this city to bear the United States stamp, and a gentlemen of integrity and experience Augustus Humbert, Esq., was duly appointed to execute the trust of supervising the coinage of these bards and ingots, and affixing the stamp which should determine their genuineness. The dies for this purpose-the striking of the $50 pieces-have been procured, and the first coin produced by them was shown us yesterday…”

The new “slugs” proved a welcome addition to the monetary situation in California. While being of an extremely large sum at the time they circulated freely throughout Northern California, but especially so in San Francisco and surroundings. For present-day numismatists, however, this has led to a small number of pieces that have remained to exist in problem-free condition. Many of these large and heavy gold coins acquired damage over the years, and even more were melted by the end of the 1850s and later. As such, any offering of a high grade example should be considered with great care.

Here we offer such a high grade example, lightly circulated but maintaining full originality. Some light circulation wear is seen on the highest points, but luster is remaining in the protected parts of the design. The fields are relatively free of mark, and none are individually worth mentioning. It must be remembered that gold is a soft metal, and these are heavy gold coins, so circulation left many marks on the majority, if not all circulated coins. Orange-gold color, completely original is seen on both sides and adds to the eye-appeal of this particular coin. A great example of this ever popular issue!