1852 Humbert $50 RE, Humbert 887, PCGS VF25. This circulated $50.00 reeded edge slug shows wear and abrasion in keeping with the grade. The legends are legible, the date, though weak is discernable, and the eagles wing feathers are clear. Overall about three- quarters of the obverse devices show definition. Despite the wear, the target reverse is apparent. There are also a few rim nicks and bumps, which are most noticeable at points 1, 2, and 4.

The obverse of the $50.00 slug shows an eagle with wings spread 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 887 THOUS, which is the fineness of the gold. The design is encircled with the inscription UNITED STATES OF AMERICA with FIFTY DOLLARS below. A circle of beads surrounds the legend. On the outside of the beads is another inscription AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA with the date below. The slug, also called a quintuple eagle and a five-eagle piece, has a target reverse.

In 1850 a federal Assay Office was established which was authorized to issue $50 to $10,000 ingots. They were to be struck from refined gold, of uniform fineness, and with appropriate legends and devices, similar to those on our smaller coins with their value conspicuously marked and the inscriptions LIBERTY and UNITED STATES OF AMERICA. The primary difference between these ingots and regular coinage was the denomination. In effect the Assay Office was a provisional branch mint. Its existence was opposed by bankers who could no longer buy gold dust for six to eight dollars per ounce because Humbert paid sixteen dollars per ounce with a small deduction for manufacturing charges.

From 1851 to 1853 Humbert slugs were accepted as currency. The early issues had Humberts name and title U.S. ASSAYER OF GOLD on each piece. Later issues said UNITED STATES ASSAY OFFICE OF GOLD. In 1850 President Fillmore in fact monetized the issues of the Assay Office by declaring that they could be used to pay tariffs.

All Humbert slugs are rare and eagerly sought after in all conditions. In its population report PCGS shows 54 Reeded Edge Humberts certified in all grades.