HERITAGE: TERRITORIAL GOLD RARITIES

1851 Humbert Fifty Dollar, Lettered Edge, 887 Thous., 50 Reverse, AU58 PCGS. CAC. K-4, R.5

1851 Humbert Fifty Dollar, Lettered Edge, 887 Thous., 50 Reverse, AU53 PCGS

1851 Humbert Fifty Dollar, Lettered Edge, 887 Thous., 50 Reverse, AU53 PCGS: The arrival of Augustus Humbert in San Francisco on January 8,1851 established the United States Assay Office, a Federal office that would function as a provisional mint. Initially, its sole function was to provide proper assaying of gold dust and bullion and form it into octagonal ingots of varying denominations. Humbert brought the dies designed for that purpose with him from New York, engraved by Charles Cushing Wright. The provisional mint used the facilities of Moffat & Company, who had suspended their private coining operations that month. The first fifty dollar octagonal gold pieces were struck on January 31, 1851. This AU53 green-gold example is bright and sharp with only a few tiny marks. The edges and corners are smooth and undamaged, while the engine-turned reverse shows only minor ticks. It will be a considerable challenge to find a finer example for the assigned grade.

1855 Wass, Molitor & Co. Fifty Dollar XF45 PCGS. K-9, R.5

1855 Wass, Molitor & Co. Fifty Dollar XF45 PCGS. K-9, R.5: Two Hungarian patriots -- Count Samuel C. Wass and Agoston Molitor -- made their way to the California gold fields in 1851. Both men had experience as miners and were mining engineers, setting up their assay office in San Francisco in late 1851. Initially, the Wass, Molitor & Company produced only ingots. They established a good reputation and branched out into coinage, producing smaller-denomination gold coins in 1852 before striking the twenty and fifty dollar coins of 1855. More than once the Wass-Molitor connection came to the rescue of the fledgling San Francisco Mint at the behest of the California banking community, when the Mint was unable to provide adequate gold coinage in 1854 and 1855. Deep honey-gold color and much remaining luster are hallmarks of this outstanding Territorial gold piece. It is an extremely attractive example of the K-9 fifty despite a few grade-consistent marks and light circulation wear, accounting for the Choice XF grade. The coin's visibly sharp strike remains intact including the lush olive wreath on the coin's reverse.

1853 $20 Assay Office Twenty Dollar, 900 Thous. MS65 NGC. K-18, R.2

1853 $20 Assay Office Twenty Dollar, 900 Thous. MS65 NGC. K-18, R.2: From 1848 to 1853, there was significant debate over the establishment of a Mint in California. Some representatives were reluctant to have a Mint in such a far away state for fear the gold would dry up, as had happened in Charlotte and Dahlonega. Representatives of North Carolina, Georgia, Louisiana, and Pennsylvania also wanted to keep their monopoly on coinage minting. As a compromise, an Assay Office was opened in San Francisco. While it could not make regular-issue U.S. coins, its output was made legal tender, which did not happen to any other Assay Office's output. Of the present K-18 twenty dollar variety, 2.5 million pieces were struck between March and October 1853. Full mint luster rolls around each side of this piece, with bright greenish-gold color. There are no mentionable marks and the strike is full throughout, even in the center of the obverse, which shows complete claws on the eagle and full details on the shield top.

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