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***Auction Highlight*** 1851 $50 LE Humbert Fifty Dollar, Lettered Edge, 887 Thous., 50 Reverse K-4
Currency:USD
Category:Coins & Paper Money
Start Price:4.00 USD
Estimated At:97,500.00 - 195,000.00 USD
SOLD
107,500.00USDto floor+ buyer's premium
This item SOLD at 2021 Jun 29 @ 22:03UTC-04:00 : AST/EDT
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A full invoice should be emailed to the winner by the auctioneer within a day or two.
***Auction Highlight*** 1851 $50 LE Humbert Fifty Dollar, Lettered Edge, 887 Thous., 50 Reverse K-4 R5 Graded au55 details By SEGS. The respected firm of Moffat & Co. served as sort of a provisional branch mint in California in the early 1850s, with a government contract to act as the United States Assay Office of Gold. Their most famous product was the iconic fifty dollar slugs that were mostly used to pay customs duties or settle large accounts in foreign trade. New York watchmaker Augustus Humbert was appointed United States Assayer and he arrived in late January of 1851 with the dies for the 50 dollar ingots in his possession. Coinage of the lettered edge fifties began immediately.Philadelphia coin dealer Henry Chapman provided an interesting description of the design for the the 1851 K-4 fifty in lot 353 of the Captain Andrew C. Zabriskie Collection (6/1909):"1851 $50. Defiant eagle to left, head to right, supports a U.S. shield and three arrows in right talon, a scroll inscribed LIBERTY passes through beak; around UNITED STATES OF AMERICA below 50 D C the 50 punched in and a blank space left before the C, evidently with the intention of punching in the number of carats, above 887 THOUS. R. Engine turned, with 50 in center. Edge, AUGUSTUS HUMBERT UNITED STATES ASSAYER OF GOLD CALIFORNIA 1851 Borders, plain. Octagon. Fine. Two slight nicks on edge. Very rare."Today we know the C actually stood for cents, not carats. The lettered edge fifties were extremely labor intensive, as only the central devices and legends were engraved in the dies. All the variable information and the edge lettering had to be punched in by hand on each coin, a process that involved at least 14 separate punching operations. The design was soon abandoned in favor of the more efficient reeded edge type, which speeded up production considerably. Bowers details the 13-14 steps required to produce these first Lettered Edge fifties, here condensed:--1. The obverse and reverse were stamped from a pair of dies.--2-4. The fineness was hand-stamped on the obverse from three separate numeral punches.--5. The value 50 was stamped on the obverse, from a single punch.--6-13. In eight separate operations, each of the octagonal edges was stamped with a logotype punch.--(14.) The value 50 was hand-stamped on the reverse (of some pieces).The lettered edge fifties are much more elusive than their reeded edge counterparts, especially in high grade. This impressive near Mint State example exhibits well-detailed design elements, with better-than-average definition on the eagle's feathers. The rich yellow-gold surfaces retain much of their original mint luster and show minimal abrasions. I believe some light hairlines account for the details grade. The overall presentation is most attractive. It is estimated that less than 50 of the “50 Rev” variety exist today. I have included 1 other mint state examples for your comparison. A Corey's Pick, Bid to Win, Don't let it get Away, you might not find its equal Coin. I give this coin my highest recommendation
Auction Location:
148 Route 73, Suite 3-284, Voorhees, New Jersey, 08043, United States
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| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
21% |
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