1852/1 Territorial Gold $10 US Assay Office Humbert PCGS VF-35

In 1851, Gold Rush California's economy struggled as the public grappled with using large, cumbersome Fifty Dollar slugs for transactions. By spring, these slugs were discounted by 3 percent, and negative press had shuttered most private mints, leaving no viable alternatives in commerce. On December 9, 1851, acting Secretary of the Treasury William L. Hodge authorized the United States Assay Office, managed by Moffat & Company with Augustus Humbert as assayer, to produce smaller gold coin denominations. However, this permission was revoked the next day, and it wasn’t until February 12, 1852, that approval was reinstated. By then, John Little Moffat had left the firm, and his partners Curtis, Perry, and Ward reorganized the Assay Office under their control.

The United States Assay Office had prepared at least one 1851-dated obverse die for Ten Dollar gold coins late that year, but production was halted when permission was rescinded. The die was later modified for 1852-dated coins. A surviving coin from this die shows light orange and silver-gold hues with typical abrasions for its grade, retaining some luster and bold definition. Paired with an 1852/1 obverse, the reverse die exhibits a prominent die crack, visible on this coin, which was struck over four days from February 11 to 14, 1852. The greenish-gold piece, with a granular texture, features a detailed eagle, though the fields and lower eagle body show moderate abrasions, with slightly more wear to the left of the diagnostic die break.