To some extent it will depend on what bandwidth, accuracy, current & calibration you want.
The gold standard would of-course be a differential amplifier across a nice little low-tempco 4 terminal shunt. Perhaps you can afford a little current drain from both sides, in which case you could use potential dividers to make that 48v a bit easier to interface to.
However at 48v (4 lead-acids, telecoms 36-72v, mic phantom powering, PoE, PSU, traction...?) we would need to know a little bit more to really advise.
*NOTE/RANT* - when I started out in electronics MAXIM used to send out these little blue & white pamphlet/magazines (perhaps they still do?). I often used to design using stuff from them - same goes from National/TI/ST, even when the BOM wasn't an issue, the sourcing of these parts was always a headache. Nowadays I'm loathed to change from designing in LM358/NE5532/TL072/LM339/ULN2803A, etc unless absolutely necessary.
**THAT SAID** - I love the Allegro ACS parts that nctnico talks of. Just finished a design job with them in - real pleasure to do.