1852 United States Assay Office of Gold $50. K-13. Rarity-5. 887 THOUS. AU-50 (PCGS). Scarce in an absolute sense, this is among the most historic and coveted issues of the California Gold Rush. Medium rose obverse highlights blend with dominant deep honey-gold color. The strike is pleasing for the type, with bold central elements and the usual weakness at the borders. The edge is nicely preserved and free of the significant blemishes that often mar these heavy "slugs." A few wispy surface marks are hardly distracting in a circulated survivor of this challenging type.<p>The earliest of the California Gold Rush $50 pieces were produced in 1851 under Augustus Humberts name at a non-federal .880 fine standard, which quickly rose to .887 fine. In 1852, Humberts name was entirely removed and the slugs were then struck under the name of the United States Assay Office of Gold, but still at the same .887 standard. Things proceeded well for the Assay Office and even smaller denomination coins were struck. An unexpected blow came in the form of legislation passed in August 1852, that suddenly forbade the Customs Office from accepting any gold coin not struck at the federally mandated .900 purity. This legislation resulted in the replacement of the 887 THOUS pieces, Kagin-13 represented here, with the K-14 900 THOUS type, offered below. Today, perhaps a few hundred of these impressive $50 gold "slugs" of all types are extant, most of which are well worn and also impaired due to cleaning, edge and/or surface damage. Problem free and attractive AU examples, like the present, are highly desirable PCGS# 10016. NGC ID: ANHG. From the Madrone Collection.
