1852 Territorial Gold - $50 U.S. Assay Office of Gold PCGS AU-53 887 Thous. Ex.SS Central America

The most compelling of all of the territorial Gold Rush issues, these massive and impressive octagonal $50 gold pieces, affectionately known as "slugs," have a fascinating history which has made them the favorites of discriminating numismatists for generations.

There are several different varieties, segregated by Lettered Edge and Reeded Edge; manufactured by Augustus Humbert and U.S. Assay (USAOG); dates of 1851 and 1852 and fineness of 880, 887 and 900 Thous.

This coin was struck by the United States Assay Office of Gold, the U.S. provisional Mint at San Francisco, between February 16, 1852, through December 14, 1853.

Although dated 1852, the USAOG 887 THOUS. Reeded Edge variety was an emergency issue, it was actually produced to the extent of 13,800 coins in January 1853.

Previously sold By Heritage in the FUN Show Sale as Lot 4480 on Jan 2022 @ $114,000. In the catalog, it was described as:

1852 $50 Assay Office Fifty Dollar, 887 Thous. AU53 PCGS. K-13, Low R.5. Ex: S.S. Central America. SSCA 7041. This massive eight-sided fifty-dollar gold piece was brought up from the wreckage of the S.S. Central America, which met its fate on the night of September 12, 1857, off the coast of the Carolinas. It, along with the thousands of federal and private coins and assayers' ingots recovered, tells the story of what the Gold Rush economy would have been like. Indeed, this piece saw brief circulation out in California. Yellow-gold surfaces are heavily abraded, and the devices lightly worn. Still, the appeal is undeniable.

Population Perspective

There were only sixteen (15) $50 Octagonal “slugs” recovered from the shipwreck of the S.S. Central America, according to the work A California Gold Rush History. There are eleven (11) of the earlier Humbert design, and four (4) of the later minted U.S. Assay Office of Gold (USAOG) design. Not all of these were certified by PCGS, but those that are, all share the same gold foil insert. Of this total, we can account for nine (9) separate appearances at public auction since the SSCA hoard was first offered publicly in 1999. Here is an in-depth study in Chronological order:

1852 $50 USAOG Reeded Edge, 887 Thous. (1 of 3 recovered)

• SSCA PCGS AU53 (#7041). Jan 2022 Heritage The Buffalo Bayou Collection, lot 4480 @ $114,000. Previously from Dec 2000 Christies Gold Rush Treasures from the SS Central America, Lot 118 @ $17,050. The Present Coin. (PCGS#10016)