SOLD
19,500.00USDto b*********L+ buyer's premium (4,875.00)
This item SOLD at 2023 Jun 17 @ 13:09UTC-7 : PDT/MST
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SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer shipping service as a convenience to our buyers. Items are not shipped until the invoice and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS or DHL. Pick up is available from our Reno office, once you have received your invoice post auction
Gould & Curry Silver Mining Co. Silver Ingot, c1904
by Fred Holabird
Description
"14.85 ozs, .0285 fine gold, value $8.74; 963 fine silver, value $18.58, $27.82" "No. 2"
Measures 3 3/8" x 1 9/16" x 1/2". The reverse and sides are all unmarked. The G & C bullion punch matches the style of the punch held by the Keck (Mackay) Museum in Reno, given them by the descendants of the Con Virginia MC, probably prior to 1940 (Fulton collected much material from key Comstockers before 1929). No assay chip, but there is a drill hole in the upper right corner of the reverse where an assay was taken.
The rounded corners of this ingot, and its general style of manufacture have always led me to believe the ingot is a product of post-bonanza production, certainly post-1890, which took advantage of the new cyanide extraction process for lower valued ores.
After much research, it is believed that the ingot was produced in 1904, in conjunction with a major new mining effort and a reincorporation of the company in San Francisco, California, where its head office was located. The ratio of gold to silver was typical of Comstock mines.
Provenance
This Gould & Curry Silver Mining Co. silver ingot is x-Ford, Part XXI, lot 3514 ($27,600). The original documentation of Ford, complete with letters, comes with the ingot.
Ford purchased the ingot from the family of William L. Warren, Curator, Old Sturbridge Village Museum, Sturbridge, Massachusetts in 1966. The letter states that Warren's father was given the ingots from his cousin Edwin Tomlinson of Quaker Farms, Connecticut. Tomlinson was an active mining investor, prospector, and traveler. His biography states "he (made) a fortune in the mining and oil business between 1874 and 1897." The letter mentions another ingot and gold nuggets, the whereabouts of which are unknown today.
Background - 1860's History
The Gould & Curry is unarguably one of the most important mines on the Comstock, and also is solely responsible for the huge gains in Comstock mine stock prices in 1863 that made millionaires overnight of many mining men (stock quoted in July, 1863 at $6,300 per foot). George Hearst was one of the men who helped consolidate the Alva Gould and Abe Curry (First Superintendent of the Carson City Mint) claims into the Gould & Curry. He and partners John Earl and William Lent and others went on to incorporate the G&C, ultimately making them millions. Inflated stock prices in 1863 later caused a massive market crash, because investors couldn't tell the legitimate mines from the promotions and development efforts of the outright frauds (ex: Fly By Night Gold and Silver MC). G&C stock fell to $900 per foot by July, 1864. The Gould & Curry built the largest mill in America in 1863, only to nearly run out of ore within a year. The superintendent, Charles Strong, ultimately committed suicide after all of his mining investments failed.
The mine produced just under $16 million before 1889. It is entirely possible that half of this came before 1864, though records are poor. As a visual reference, a significant portion of the men listed in Kelly's 1863 Territorial Directory were employed by the G&C MC.
Post-1885 History
Much is written on the Comstock from the discovery through the Hale & Norcross Bonanza of the mid-1880's. But little summary work has ever been published on the post-1885 period, particularly post-1890. With production during that period at nearly nine million ounces of gold and 220 million ounces of silver, it is no wonder it has been generally left out of the modern historical record. However, a careful search of the Mining and Scientific Press and Engineering and Mining Journal, accompanied by the Mines Handbook, gives us a much better picture of the "new era" of mining on the Comstock.
In summary, the mines of the middle and north end of the Comstock were generally flooded below the Sutro Tunnel Level since about 1880-1885. Mining on the Comstock was basically dead during the depression of the early 1890's, a great part due to the flooding of the deep levels. Annual production during that decade was at an all-time low of under $1,000,000 per year (1895-1910).
In 1897, the G&C had begun to experiment with low grade ore, averaging about $12 per ton. By November of that year, reports had confirmed the grade. The experiment was for 1000 tons. But it was unsuccessful, and by the end of 1899, the company only had $468 in the bank and owed another $4,000. Many of the mines were in a similar position. The group of northern and middle mines got together in about 1902 and put together a plan to pump the lower levels to access what they thought would be more ore. The plan included revamping the Ward Shaft and accessing all of the mines of these groups through the Ward Shaft. The shaft, which was caved, a mess and inoperative in 1902, was completely revamped by 1904. By April, it was pumping full force. Additionally, with renewed interest and access to ores not accessible in 25 years, the Butters Mill, using the new, more efficient cyanide process, was reopened as were several other mills.
The G&C SMC, taking advantage of the new operations, reincorporated in 1904 to sell more stock to pay for their portion of the Ward, and for exploration activity. It represented a new day for the G&C. It was at this time, I believe, that the ingot was issued and used as a marketing tool in San Francisco, or at a shareholder meeting in December, 1904. The serial number of #2 is very indicative of a new beginning, and very typical of ingot numbering.
It ultimately took years for the mines of the north and middle ends to get going. The pumping was slow, as was mine cleanup, sampling and drilling. After 1915, production on the Comstock again rose to over $1 million per year.
This unique ingot is a choice example of a Comstock mine ingot.
Date: c.1904
Country (if not USA):
State: Nevada
City: Virginia City
Provenance:
Auction Location:
3555 Airway Drive Suite 309, Reno, Nevada, 89511, United States
Previewing Details:
Preview
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Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.375% |
Nevada Sales Tax |
| CSST |
7.25% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
25% |
Additional Fees:
Shipping Details:
SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer shipping service as a convenience to our buyers. Items are not shipped until the invoice and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS or DHL. Pick up is available from our Reno office, once you have received your invoice post auction, with 24 hours notice given to HWAC prior to pick-up.
Payment Details:
Due on receipt of invoice.
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This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
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