1852 $10 California Gold Eagle - U.S. Assay Office PCGS AU50 Ex.SS Central America w/Box & COA

Here’s a classic piece from the early days of the California Gold Rush, one that carries the iconic Augustus Humbert eagle upon the obverse. What makes this example even more historic is that it is a survivor of the tragic 1857 sinking of the SS Central America (SSCA). The PCGS Gold Foil label documents its SS Central America pedigree. This bright yellow gold $10 California Gold Eagle from the U.S. Assay Office is one of 44 graded AU50 by PCGS, with 111 finer. 92 of these coins were found among the wreckage of the SSCA.

A depiction of the sinking of the SS Central America by J. Childs (engraver & publisher). Image: Wikimedia Commons.

Augustus Humbert, a New York watchmaker, was appointed United States Assayer at a salary of $5,000 per year. He arrived in San Francisco on January 30, 1851, with dies for the famous $50 slugs that he brought from New York, where sculptor and medalist Charles C. Wright crafted them. Production of those coins began the day after he arrived.

On December 9, 1851, Treasury Secretary Corwin had written to Humbert, permitting Moffat & Co. to strike $10 and $20 gold coins under the authority of the U. S. Assay Office. This letter had been excitedly received by Humbert on January 10, 1852. It is quite likely that dies for $5, $10, and $20 gold coins prepared in 1851 were in the process of being changed to read '1852' in anticipation of such an approving Treasury response. However, a mere two days later, Humbert received a second letter from Corwin delaying the earlier authority.

Advertisement about sailing to California via the California Clipper, circa 1850, to take part in the Gold Rush. Image: Wikimedia Commons.

After much upset at the U.S. Assay Office, and letters slowly sent back and forth across the very wide nation, the situation was resolved.

On February 11, 1852, the U. S. Assay Office received a letter dated January 7 from Secretary Corwin, this time nullifying the previous order and yet again authorizing the production of $10 and $20 gold pieces. The next day the Alta California ran an announcement to this effect, and in a letter to Corwin, Moffat & Co. principal Curtis stated, “On the same day we made our first five and ten dollar pieces for the United States Assay Office.” It was just three days later that the press reported examples of the $10 U.S. Assay Office gold pieces in circulation.