A historic Gold Rush issue from the famed California assayers, this 1850 Moffat $5 represents one of the most tangible links to early Western commerce. Rich golden surfaces display pleasing original color with soft, satiny luster throughout. Light handling consistent with the grade is visible, yet the overall eye appeal remains strong for this challenging territorial type. Well-centered with bold legends and a sharply rendered eagle, this piece offers an attractive and collectible example of a highly desirable pioneer gold issue.