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Hale & Norcross Gold Silver Ore Specimen, Virginia City, Nevada [164462]

Currency:USD Category:Collectibles / Rocks, Fossils & Minerals Start Price:150.00 USD Estimated At:300.00 - 500.00 USD
Hale & Norcross Gold Silver Ore Specimen, Virginia City, Nevada [164462]
SOLD
650.00USDto x**********u+ buyer's premium (162.50)
This item SOLD at 2023 Apr 02 @ 10:28UTC-7 : PDT/MST
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Gold silver ore specimen from the famous Gottschalk Collection. Attached cardboard label reads: "Gold-Silver ore Hale-Norcross Mine Comstock Lode Virginia City-Nev." Triangular cut specimen measuring 2.5 x 1.75 x .5" Weighs 61g. Founded in 1859, the Hale & Norcross contained about 400 feet of original Comstock Lode located between the Savage and Chollar Mines. In 1868, a fierce stock battle was waged for ownership over this property. At the time, the mine was thought to be barren and was in the hands of William Sharon and the Bank of California (Wm. Ralston). Local miners John Mackay and James Fair were convinced the mine had been poorly managed, but would produce good ore if properly worked. The two formed an alliance with former San Francisco saloon owners James Flood and William O'Brien, and with $50,000 of borrowed money secretly began buying Hale & Norcross stock. Sharon, known as the "King of the Comstock" was rarely bested in mining matters, but was caught napping when the stock raid took place. At the annual stockholders meeting on March 10, 1869, the four men now known as the Bonanza Firm, holding a majority of the stock elected themselves trustees of the Hale & Norcross Company. The gamble had paid off and the four netted over $500,000 from this deal alone.

Date:
Country (if not USA):
State: Nevada
City: Virginia City
Provenance: