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Thursday, March 30, 2006

Unusual Gold Coins

There are some unusual gold coins out there in the market place. These include the Augustus Humbert $50 gold slugs. These were octagonal (eight sided) in shape and a recent example sold for nearly $290,000 US dollars. Well over the few ounces of gold contained therein.

Also known as ‘slugs' these types of coins are also known as facsimiles and are one of the most expensive and elusive coins for collectors. They represented very large gold coins struck in California.

They were meant to be used by miners and the pioneers of the day during the gold rush. A very rough and ready coin as it were. They were originally termed 'ingots' due to their large weight and face value of 50 US dollars but because of their size become known as slugs.

The government withdrew the 50 dollar slugs from circulation around 1954 and they are now quite rare with only around 40 known to exist.

They can cost anywhere from 10,000 dollars up to over 250,000 each depending on which mint, condition and age.

For example the 1915 Panama-Pacific International Exposition 50 dollar commemorative
Gold coin was minted in two versions, the octagonal as mentioned above and the traditional round.

They are among the most unusual coins available albeit for their remarkable history and rarity.

There are many other unusual gold coins available and half the fun is discovering them and the unique history that usually surrounds them.

If you are fortunate enough to ever come across one of these unusual gold coins and can afford the price, they would make a phenomenal addition to your collection not to mention the prestige and you would surely be a very happy individual.

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