1851 California Gold $50 - "880" $50 LE Augustus Humbert, No "50"

Coin Details

Auction Record

$546,250 MS63 08-11-2010 Heritage Auctions

Description

This is the first variety of Augustus Humbert’s iconic fifty-dollar gold slug, struck in 1851 with 880 fineness, lettered edge, and without the numeral “50” on the reverse. As the earliest of the Humbert octagonal pieces, this variety represents the dawn of quasi-federal coinage in California. The absence of the “50” denomination numeral on the reverse reflects the initial design concept, which relied on the weight and stated fineness to convey value rather than an explicit denomination marking. The obverse bears the same heraldic eagle and lengthy Humbert inscription as all fifty-dollar slugs. The reverse displays the engine-turned pattern with 880 THOUS. But lacks the prominent “50” found on later varieties. Merchants and bankers quickly requested the addition of a clear denomination marking, leading to the subsequent “with 50” variety. These earliest Humbert slugs entered circulation at a critical moment in California’s monetary history. Private minters of varying honesty had flooded the market with coins of undocumented value, creating widespread distrust. Humbert’s appointment and his production of these massive, clearly marked pieces under federal authority helped stabilize the gold-rush economy and restore confidence in coined money.

Rarity Notes

Very rare. The No 50 variety is scarcer than the With 50 version, as it was produced for a shorter period before the denomination numeral was added. Approximately 50-75 examples survive.

Cross References

K-5 (Kagin); PCGS #10196; NGC #31080; Augustus Humbert, U.S. Assay Office, San Francisco; first variety without denomination numeral