LOT Heritage Rare Coin Galleries  /  2007 Signature Coin - Charlotte, NC #432  / 

2465

Kellogg & Humbert Gold Ingot. 103.85 ounces. A contempo

Currency:USD Category:Coins & Paper Money / Bullion Start Price:55,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
Kellogg & Humbert Gold Ingot. 103.85 ounces. A contempo
<B>Kellogg & Humbert Gold Ingot.</B></I> 103.85 ounces. A contemporary account from the <I>Alta California</B></I> from October 23, 1855 speaks volumes about the need for coinage in Gold Rush California and some of the problems encountered with privately minted coins: " ... The discovery of gold, in untold quantities in our mountains, created a still greater demand for coin, which had to be supplied by some means or other, and, in absence of legalized issues, private coiners commenced operations, and we had 'Beaver' pieces from Oregon, Mormon coin, both from Utah and various points in the State, not to speak of 'S.M.V.,' 'Wright's Miner's Bank,' 'Baldwin's Half Eagles,' etc. These have all passed away; and although many of them were practically a 'shave' on the recipient in value, they answered a good purpose. The presence of an assayer, be he good or bad, helped the miner by establishing a standard for gold; and by the time that Mr. Humbert (a man who has done more than any single person we know of for the State; and has met with no reward at all commensurate with his services) had got through his labors as a United States officer, most of them had disappeared ..."<BR> As can be seen by this extended quote, Augustus Humbert, his coins, and his ingots were held in the highest regard by those who needed a reliable store of value for the gold that was pulled out of the American River area of California in the late 1840s and throughout the 1850s. The ingot seen here is actually only moderate in size compared to some of the truly massive ingots that were salvaged from the wreck of the <I>S.S. Central America.</B></I> And yet, this moderate-sized ingot represented almost $2,000 in value in 1857. The top side reads: No 954 / Kellogg & Humbert Assayers (rectangular imprint) / 103.85 Oz / 918 FINE / $1970.72. The individual ingot number is repeated at the top of the back side. Numerous small bubbles from the casting process are scattered across the top side. There are only a few small specks of rusted iron from the ship's hull located on the lower part of the top side. An impressive Kellogg & Humbert gold ingot.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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