Every major collection of Gold Rush artifacts contains at least one example of the legendary “Slug.”
They are the largest coins produced of the California Gold Rush, containing more than 2.5 ounces of gold apiece. Their significance when held in hand always impresses.
Augustus Humbert was a New York watch-case maker who came to California in search of the American dream. He gave up his obsession with the tracking of time to use his intricate skill-set in a new endeavor, that of turning the gold the 49ers were bringing from the earth into much needed coinage. He started producing his own coins, and then went to the U.S. Assy Office to continue the effort.
The $50 “Slug” was a substantial coin and a substantial sum of money, most often used for large transactions suitable for its use.
While a Slug is a considerable prize in any grade, few come that are so relatively affordable that we consider them to be “cash” in just about any marketplace.