US Coins

Market Analysis: Big gold at Scotsman sale includes $50 slug

Scotsman Coin and Jewelry auctioned some wonderful gold coins at its Midwest Summer Sale on July 22 in metropolitan St. Louis.

Certainly, one of the most impressive lots was an octagonal Augustus Humbert gold $50 slug, graded Extremely Fine 40 by Professional Coin Grading Service and housed in an older green-label holder. It is the reeded edge, 887 THOUS. variety with the distinctive “target reverse,” and is listed as K-6 in Don Kagin’s book Private Gold Coins and Patterns of the United States.

The Scotsman cataloger noted, “Generally even buttercup-yellow hue fills the surface and adds to an overall pleasing presentation,” after commenting on the bolder than usual details seen on the eagle’s feathers.

The coin sold for $36,285 in the auction.

Humbert was appointed United States assayer and his gold $50 pieces were accepted by contemporary merchants as legal tender during the “Gold Rush.”

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