1852 $10 California Gold Eagle - Augustus Humbert PCGS AU58

UNITED STATES PROVISIONAL MINT AT SAN FRANCISCO

AUGUSTUS HUMBERT, UNITED STATES ASSAYER

February 1, 1851 – February 15, 1852 - The Beginnings...

By 1850 the unsupervised issues of private gold coins, and the difficulty of ascertaining the real value of raw gold, were having an unsettling economic effect in California.  The State representatives in Congress pressed for the establishment of a United States branch mint in San Francisco as soon as possible.  When it became obvious that immediate action would not be taken, a compromise was reached.  On September 30, 1850 Congress authorized the Secretary of the Treasury to make a contract with an established assayer in California to assay new gold and prepare ingots of known weight and fineness.  Moffat & Co. was virtually the only firm qualified to do the work and were awarded the contracts.  At the same time Augustus Humbert of New York was appointed United States Assayer to supervise the technical aspects of the operation.

The Assay Office was a temporary expedient to fill an urgent need until a branch mint could be authorized.  Moffat & co. took immediate steps to expand their facilities, moving larger quarters on Commercial Street adjacent to Montgomery Street, and ceased issuing coins under their own name.  On January 29, 1851 they publicly advertised that, “on or about the first of February ensuing we will be prepared to receive gold dust for smelting and assaying, and forming the same into ingots and bars, in accordance with our recent contract with the Secretary of the Treasury-under the supervision of the United States Assayer, Augustus Humbert, Esq., who will cause the United States stamp to be affixed to the same.” 

Humbert arrived in town on January 8, 1851.  The initial octagonal $50 gold coin must have been struck within thirty days because the February 1 edition of the San Francisco, “Pacific News” announced that “The dies for this purpose have been procured and the first coin produced by them was shown to us yesterday.”  The promptness with which the original octagonal slug was made can be explained by the fact that Humbert had taken steps to have the dies and collars prepared before leaving New York by C. C. Wright, whose name appears on a trial striking in copper.

The regular production of the $50.00 ingots in quantity began on February 14, 1851.  Each coin required 14 different steps to make a finished product. They met one vital commercial need the mixed issues of private gold had not been able to fulfill.  As a form of emergency U.S. coin, they were accepted by the government at full face value in payment for all Customs duties.

Here is a relative timeline for the production of the smaller denomination gold coins in San Francisco during the gold rush years of 1852-1853.