Hale & Norcross Mine Gold & Silver Specimens

Currency:USD Category:Collectibles / Rocks, Fossils & Minerals Start Price:400.00 USD Estimated At:800.00 - 1,200.00 USD
Hale & Norcross Mine Gold & Silver Specimens
800.00USDto m********y+ (200.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2018 Mar 16 @ 09:29UTC-7 : PDT/MST
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Lot of two samples of silver-gold ore from the Hale & Norcross Mines on the Comstock Lode. One sample is 3 cubic inches wide labeled Bonanza ore, Gold and Argentite. The second over 2 inches long is High Grade Gold-Silver ore. Founded in 1859, the Hale & Norcross contained about 400 feet of original Comstock Lode located between the Savage and Chollar Mines. In 1868, a battle was waged for ownership of the mine. The mine was previously thought to be barren and was owned by William Sharon and the Bank of California (William Ralston). Future Bonanza miners, John Mackay and James Fair were convinced the mine 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 slipped away. 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. This profit helped bankroll their purchase of the Big Bonanza properties, the Consolidated Virginia and the adjoining California Mines. Date: Location: Virginia City, Nevada HWAC# 60867