1852 Humbert $10 SSCA, PCGS XF45. Ex-SS Central America (gold tag, box & cert). This scarce, lightly circulated 1852 Humbert Eagle comes from the wreck of the S.S. Central America. The coin shows most of the devices and lettering on both sides in keeping with the grade. The dentils, especially on the reverse, are strong. Some mint luster remains within the devices. The coin, which is graded XF45 by PCGS comes with a gold tag, box and certificate of authenticity from the Columbus-America Discovery Group.

In the early 1850s there was a coinage shortage in the West. August Humbert, a private minter who had been making $50.00 slugs for the U.S. Assay Office of Gold, began to issue smaller denominations; however, federal authorities did not give him permission to coin them. The result was that foreign coins began to circulate at inflated values. The state legislature passed an act that enabled private minters to issue coins in small denominations ($5, $10, and $20). Consequently, Moffat & Co. resumed issuing coinage in those denominations. Later in January, 1852, authorization was received for Humbert to mint smaller denominations. Political opposition to this ruling was shown in a law that passed in August, 1852 that required all gold pieces to conform to the standard of federal coins. News of this act created a panic. Business ceased. Coins of legal fineness could not be made because parting acids were not available and copper was very scarce.

The obverse of this piece shows an eagle with wings spread, standing partially behind a rock and shield. Behind one wing and in front of the other is a serpent, which is inscribed LIBERTY. Above the eagle is a banner with the legend 884 THOUS, which is the fineness of the gold. The design is encircled with the inscription UNITED STATES OF AMERICA with TEN DOLS. below. On the reverse is another inscription AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD, CALIFORNIA with the date below.

In 1857 the S.S. Central America sank off the coast of the Carolinas because of a huge hurricane. It was a three-mast, side-wheel steamship that traveled between Panama and New York. The journey took approximately 21 days. In the five years prior to its sinking, it has been estimated that the Central America carried about $150 million worth of gold or one-third of all of the gold mined in California. The ship was 272 feet long and had 578 passengers and crew on board. It also had on board over 35,000 pieces of mail and gold bars, nuggets, dust, and gold coin. The loss of the Central America triggered the Panic of 1857, which was caused by bank instability and generally poor economic conditions.

Humberts eagles are rare in all conditions. In its population report, PCGS shows 20 certified at XF45 with 19 better.