SOLD
4,500.00USDto w**********y+ buyer's premium (1,125.00)
This item SOLD at 2025 Aug 09 @ 16:43UTC-07:00 : PDT/MST
Did you win this lot?
A full invoice should be emailed to the winner by the auctioneer within a day or two.
FINAL AUCTION RECORD The Auctioneer’s podium notes serve as the final, legally binding record of the auction results, superseding any electronic bidding records. See Terms and Conditions
Homestake Mine Cert #2.
This iconic stock is the second stock issued by Lloyd Tevis and George Hearst's new company. It is the earliest possible Homestake certificate in the collector market and is unquestionably the most important American mining certificate because the Homestake is America's largest single producing gold mine at well over 50 million ounces since the day this was issued, and the simple fact that cert No. 1 went to George Hearst, who never sold a share of his stock, thus this cert is the defacto "No. 1". It is a "founders share" issued to and signed by Hearst's partner Lloyd Tevis, as well as their other partner, JB Haggin.
Hearst had a goal: to own the world's largest silver, copper and gold mines, and he accomplished just that with the Ontario Mine in Utah, the Anaconda in Butte, and the Homestake in the Black Hills of South Dakota. Tevis and Haggin were involved in all of them.
The trio of Hearst, Haggin and Tevis became the quintessential mining investment team. Hearst, with his keen eye and knowledge of mining teamed with Tevis and Haggin's shrewd business deals vaulted the trio to the top of the world in mining.
Haggin and Tevis met in Sacramento in 1850 and became law partners. Over the years they owned or built some of the best companies in California. Hearst and Almarin B. Paul formed a partnership and opened a store in Sacramento in 1850, which is where the trio met. That's where it all began, on K Street in what is today "Old Sacramento".
Over the ensuing decades, Tevis and Haggin took keen notice of what Hearst was doing, and agreed to grubstake him. But it was no ordinary grubstake. Hearst knew exactly what he was doing, and Tevis and Haggin were convinced their new partner held special abilities and insight into mining that few ever possessed.
A Quick Move Through History
Hearst parlayed his LeCompton mine at Grass Valley into the Ophir at Virginia City, and from there into other investments. He tried Treasure Hill, invested heavily, only to sell out because his attentions were required in San Francisco.
He didn't‚'t give up on eastern Nevada, though. He purchased Cortez from Simeon Winban, which today is one of the country's largest open pit gold mines, having produced millions of ounces of gold. In a rare move, Winban regretted selling to Hearst, and Hearst sold the mine back to Winban. This fact is not recorded in Hearst biographies, but is substantiated by my own work in County court houses all over the American West.
About that time, the group got involved with the Ontario Mine in Park City, Utah, which became the largest silver mine.
Meanwhile...
F.V. Hayden had done a rough reconnaissance of the Black Hills in 1869 as a follow-up of earlier work for the 1850s Railroad Surveys which skirted the region. He reported "The Black Hills of Dakota will form one of the most interesting studies on the continent." This is, perhaps, the first indication of what was to come. In 1874, William Ludlow's survey through the Black Hills brought more precise information to the forefront. Ludlow's expedition, headed by General George Custer, was charged with spending up to 60 days investigating the region. The Black Hills were part of a massive Sioux Land held under the treaty of April 29, 1868. It was surmised that the establishment of military posts would be necessary. Custer's Company took 110 wagons and three Gatling guns, along with a three foot canon.
The first hint of gold came on July 27. As recorded by Ludlow: "the gold hunters were very busy all day with shovel and pan exploring the streams." On August 2, "there is much talk of gold, and industrious search for it is making. I saw in General Custer's tent what the miner said he had obtained during the day. Under a strong reading glass it resembled small pin heads, and fine scales of irregular shape, perhaps thirty in number. The miners expressed themselves quite confident that if they could reach bedrock in the valleys at a favorable place, plenty could be obtained by use of the pan." Ludlow didn't‚'t quite know what to make of the gold prospecting: "Whatever may ultimately be determined as to the existence of large amounts of the precious metal in the Black Hills - and the evidence gathered on the trip I conclude was on the whole discouraging to that supposition- the real wealth and value of the country are, beyond doubt, very great."
Ludlow's men discussed the geology in very rough and regional terms. They knew they were seeing "shists, slates and sediments" of varying nature. They even possibly recognized what later would become known as the Homestake Formation, when they described the schists "that contain intercalated beds of quartz" that stood nearly vertically in "a deceptive appearance of veins." Little did they know that they may have been looking at original "Homestake" outcrop!
News of the placer gold discoveries seen by Custer passed quickly. More prospectors arrived, and within a year of Ludlow's Expedition, a few mining camps sprung to life, among them Deadwood. New of the gold attracted the best and the worst of characters, as was typical in western mining camps.
The next year, 1875, Ross Raymond did not cover Dakota in his last year as US Mineral Commissioner (Mineral Resources West off the Rocky Mountains). It would take until 1880 before the Government again began to report on mines, this time through Mint Director Horatio Burchard. By then, the secret was out, and the Homestake was well under way.
Hearst, however, was far in front of the Government publications. He had scouts out all over the West looking at mines and recommending many. While Deadwood boomed in 1875-1876, it wasn't‚'t until the summer of 1877 that Hearst got a grip on Deadwood from a trusted source, one of his mining engineers from the Ontario mine, L.D. Kellogg. Then he sent a second mining engineer, W. Farish. Hearst had Kellog negotiate a deal to acquire part of the Homestake which had been discovered by Fred and Moses Manuel and Cyrus Engh in late 1875, reportedly after reading about placer gold from the Ludlow Expedition.
As for the Homestake, it took a few months through early November 1877 to procure control of the mine. The company incorporated in San Francisco as soon as they had control, November 5, 1877, though they would not issue stock until the day after Christmas. Meanwhile, Hearst badly wanted the Father De Smet mine, which he thought was "the greatest gold mine yet discovered." It took time, but the trio bought control of the Desmet too.
By 1880, the Homestake was the largest gold entity in America, by far. The Homestake companies alone produced $3.78 million in gold.
The No. 2 Homestake Mining Co. Certificate
This certificate, issued to president Tevis for 5 shares on "opening day", was turned in December 10, 1878. Whether he sold the shares, or transferred them is left to a future researcher. The Hearst-Haggin-Tevis trio used the best known lithographic firm at the time, Britton, Rey & Co. of San Francisco to engrave this certificate. Of great importance, Tevis‚' partner, JB Haggin signed for Tevis on the reverse.
This is it. It's the best you can get for any mining collection. Certificate No. 2 signed by Homestake (and former Wells, Fargo president) Lloyd Tevis and JB Haggin. Cert No. 1 went to Hearst, and was never sold.
The story of the Homestake certificates is also of interest. This certificate, the highlight of the David Shaddrick Homestake Collection , was found by him stored in barrels...While working at Homestake, Dave discovered a couple of old bins full of old stock certificates, apparently lost through time, some damaged by “the elements”. He saved some of the best, and most were distributed to Homestake folks over several decades.
^
Date:
Country (if not USA):
State: South Dakota
City: Lead
Provenance: Homestake Mine Geologist Dave Shaddrick Collection
Auction Location:
3555 Airway Drive Suite 308, Reno, Nevada, 89511, United States
Previewing Details:
Preview:
Phone or video previews are strongly encouraged. Our staff is tech savvy and ready to use Skype/Facetime/Zoom if you would like to video preview with us. Please provide a list of items and minimum of 24 hours notice so that we may pull your lots and schedule a private viewing. Office preview by special private appointment ONLY. Call (775) 851-1859 to schedule.
Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.375% |
Nevada Sales Tax |
| CSST |
8% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
25% |
Additional Fees:
Shipping Details:
Pick-up is available at our Reno office by scheduling online via the link in the post-auction email notification or by calling our office at 775-851-1859. 24 hours notice is required.
Shipments will be processed in the order invoices are paid. Please be patient; about 200 invoices are paid the first day. Please contact us ASAP with any special instructions. Very large orders or orders with oversized, overweight, oddly shaped or fragile items will require additional processing time.
After your order is packaged you will receive a shipping and handling invoice that is due immediately upon receipt. If shipping invoices are not paid or purchased items are not picked-up in a reasonable amount of time, customers will be notified prior to order forfeiture for abandonment.
It is the customer's responsibility to arrange freight shipments; we will palletize orders upon special request for an additional handling fee.
THANK YOU FOR PLAYING IN OUR AUCTION!
Payment Details:
Due on receipt of invoice. Automatic payment will be processed with the credit card on file 5-7 days after invoicing for any unpaid balances.
Accepted Payment Methods:
- VISA
- Master Card
- AMEX
- Discover
- Money Order/Bank Draft
- Check/Cheque
- COD (cash on delivery)
- PayPal
- Wire Transfer
TERMS AND CONDITIONS
Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC)
1. By participating in the auction, bidders acknowledge and accept the terms and conditions of sale.
2. BUYER’S PREMIUM & INSURANCE: There will be a 25% Buyer’s Premium added to the sale price (hammer) of each lot. We accept cash, checks, money orders, wire transfers, credit cards and PayPal.
3. COINS, CURRENCY AND PRECIOUS METALS, Insurance. The buyer’s commission for this section is 20%. Coins and currency shall be defined as any regular Federal issue circulating coins and currency. Tokens are not considered coins. Precious metals shall be defined as ingots, silver or gold rounds, bullion items and gold nuggets. Mineral specimens are not considered under the precious metals category. Commemorative items such as metals and ribbons are not considered coins of precious metals. However, lots that consist entirely of gold or silver of high purity, including commemorative metals, are considered precious metals. Please contact our office if you need clarification on a specific lot.
4. SALES TAX: Sales tax may be applicable in any of the 50 states according to current tax laws regarding internet sales. Please check your state's tax regulations. HWAC will charge sales tax for those states that we know have instituted internet sales tax. All bonafide resale dealers with a current valid resale license should submit their license in advance to HWAC.
5. 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. Merchandise not picked up or shipped within a reasonable time period may be subject to storage fees, and in cases of continued non-compliance, may result in forfeiture. Also see #26 for details on unclaimed merchandise.
6. LIVE (FLOOR) BIDDING: We will open lots with more than one bid at the current high absentee bid or 50% of the low estimate at the auctioneer’s discretion. Our auction progress is at a rate of between 60 and 100 lots per hour. An item is not sold until the next lot is announced. (We are not responsible for Internet bids that arrive late.) The auctioneer will identify the successful bidder by number and announce the winning bid amount. If you are not sure whether you won the lot or not, it is your responsibility to ask for clarification immediately, prior to the start of the next auction lot. Auctioneer reserves the right to reopen the lot in the case of an immediate dispute at the actual time of the sale.
7. TELEPHONE BIDDING: Telephone bidding MUST be scheduled prior to this auction. If you do not schedule in advance, and choose instead to call on the day of the auction to request a line for bidding, you may find that we are unable to accommodate your request. Please limit your telephone bids to items of value greater than $500, or to a string of items with a similar total.
8. LIVE AUCTION ABSENTEE BIDDING: Absentee bids for the live auction MUST be received by 5pm Pacific Time the day before the auction. Bids accepted after the cutoff time will be represented live only if an agent is available and will not be considered absentee or given first priority as such. It is your responsibility to submit all lot numbers and bid amounts accurately. Absentee bids MUST be equal to at least 50% of the low estimate. Bids on “No Lots” or “Withdrawn” Lots will not be executed. Bids made in amounts that do not conform to the bid increment table under Item #14 will be automatically rounded up or down to the nearest proper bid increment at the discretion of the auctioneer. Absentee bids are entered into a computer that will bid live on your behalf at the auction and will compete live against other absentee bids, live internet bidders, floor bidders and phone bidders.
9. INTERNET BIDDING: Both Absentee and Live Internet bidding are available through our live auction networks. If you wish to bid LIVE via the Internet, you MUST pre-register. A live feed is generally accessible during the auction. Online bidding remains open through the live auction, and online absentee bids may be placed anytime. Live bidding will open when the auction starts. Internet bidding is offered as a convenience for those who cannot attend the live sale. There may be delays or interruptions in Internet connectivity that are beyond our control. Attending the live auction or arranging for an agent is the most reliable way to secure your bids.
10. TIE BIDS During the live auction, multiple internet platforms, floor bidders, and phone bidders compete simultaneously. When identical bids are received from these sources, they are referred to as tie bids. In the event of tie bids, the Auctioneer has sole authority to determine the winning bid, typically awarding the lot to the first recognized bid. Competing bidders may raise their bids if they wish to continue. Given the complexities of managing bids across multiple platforms, including potential delays or errors inherent in internet bidding systems, bidders are strongly encouraged to participate live or by phone to ensure their bids are recognized and accepted.
11. FINAL AUCTION RECORD The Auctioneer’s podium notes serve as the final, legally binding record of the auction results, superseding any electronic bidding records.
12. NEW BIDDERS: Bidders unknown to us, who anticipate an expenditure in excess of $20,000, must provide commercial references or a deposit of 25% of the amount to be bid in order for the auction staff to execute bids. Deposits will be credited towards lots won and any balance will be refunded within 10 business days after the auction has concluded. New bidders will be given a spending limit at their initial request to participate. In order to increase this limit, you may be required to provide a letter of authorization from your bank in addition to providing references. Please contact our office at any time if you have questions regarding spending limits or references required to bid.
13. AGENT BIDDING: There are numerous professional agents available to assist you should you require this service. Please contact the office for a list or to arrange for representation on the floor during the live auction. HWAC is not responsible for any acts or omissions by agents acting on behalf of bidders at our auctions.
BE ADVISED: Auction participation through the live Internet bidding site is not 100% foolproof. The technology for this process is always changing, and the operation of it and the corresponding Internet connectivity issues are far beyond our control. Some folks have attempted to use the live Internet bidding process as their primary method of bidding, and have been quite successful. Others have failed completely. Depending upon your computer, server, host, and other factors, Internet signals may be delayed, such that bids may not be received in time. We cannot be held responsible for these delays, or for the lack of placed bids in a timely manner, or any other factors leading to unaccepted bids that are far beyond our control. Bidders should always have a backup plan for lots they highly desire. Live participation is best, followed by phone participation. We will not reopen lots for missed bids.
14. BIDDING INCREMENTS: All bids must be submitted in U.S. dollars and in whole dollar amounts only in the appropriate increments as outlined below. If you choose to submit bids in an increment not listed below, your bid will be rounded to the nearest increment and you will be expected to pay the amount to which the bid was rounded should your bid be the winning bid. If you have any questions about an appropriate bid amount, please call us.
From: to: Increment:
$1 $95 $5
$100 $190 $10
$200 $475 $25
$500 $1,450 $50
$1,500 $3,400 $100
$3,500 $9,750 $250
$10,000 $30,000 $500
$30,000 up $1000
15. RESERVES: Most of the lots in this auction are unreserved. Precious metals may be reserved at or near or slightly below spot, at the auctioneer's discretion.
16. BID REDUCTION: All winning absentee bids will be reduced, if necessary, to the next bidding increment up from the last competing bid, as long as the minimum bid requirement has been met. For example, if you submit an absentee bid of $1000 and the next highest competing bid is $250, then you will win the lot for $275.
17. BID INFORMATION: Collectors often ask in advance the price level of a particular lot. We will give out the current competitive high absentee bid until we close the day before the live auction. You may also view absentee bids online at www.holabirdamericana.com. While we try to update the absentee bids as often as necessary, bids received close to the bidding deadline might not be reflected online, and we disclaim any responsibility for any bids made in reliance upon inaccuracies on our website, which may be beyond our control. We do not own any of the live Internet bidding platforms, and thus many aspects of the Internet technology are out of our control.
18. BID CANCELLATION: If you wish to cancel or change a bid after you have submitted your bids to us due to an error, you MUST PHONE us to advise us of this. Bid cancellations through mail, email, or faxes are not advisable. Errors are easy to make. Please call us if you have any questions on this.
19. All stock certificates, checks, warrants, and other financial documents sold herein are sold as antiquities, and have no financial, securities, or public trading value whatsoever.
20. We reserve the right to reject any bid we feel is not made in good faith.
21. INVOICING: Invoices are mailed or emailed within two business days after the close of all portions of the sale. Within 15 calendar days of receipt of invoice, payment is due in full to Holabird Western Americana Collections, 3555 Airway Dr., #308, Reno, NV 89511. Late fees may be added if payment arrangements are not made within those 15 days. Sales tax will be added to all sales picked-up after the auction or shipped to Nevada addresses, according to Nevada State law, unless a resale certificate is provided.
22. PAYMENT: We accept Cash, Visa, Master Card, American Express, Discover, Money Order/Cashier’s Check, Wire Transfer, Personal Check or PayPal. All returned checks are subject to a $25 fee. Cash received in amounts greater than $10,000 is subject to the filing of IRS form 8300, as required by law.
23. Automatic Credit Card Billing: Internet bidders are subject to the payment terms and conditions outlined on the internet bidding platform they utilize, which may include the automatic payment of auction invoices with the credit card information on file at the time of registration.
24. NON-PAYMENT: HWAC reserves the right to cancel any invoice not paid in full within 15 days. A cancelled invoice does not relieve the bidder from their obligation to pay seller fees and buyer’s premiums compensating HWAC for its services in conducting the auction. Interest shall run on all outstanding balances at the highest rate permitted by law. HWAC shall have a lien against the merchandise purchased by the bidder, and any other of bidder’s property then held by HWAC or its affiliates, to secure payment of the invoice, and with respect thereto HWAC shall have all the rights of a secured creditor under the Nevada Commercial Code, including but not limited to the right of sale. HWAC may sell the lot(s) securing the invoice to any under bidders in the auction that the lot(s) appeared, or at subsequent private or public sale, or relist the lot(s) in a future auction conducted by HWAC. A defaulting bidder agrees to pay for the reasonable costs of resale (including a 10% seller’s commission, if consigned to an auction conducted by HWAC). The defaulting bidder is liable to pay any difference between his or her total original invoice for the lot(s), plus any applicable interest, and the net proceeds for the lot(s) if sold at private sale or the subsequent hammer price of the lot(s) less the 10% seller’s commissions, if sold at an HWAC auction. If HWAC refers any invoice to an attorney for collection, the bidder agrees to pay attorney’s fees, court costs, and other collection costs incurred by HWAC. Any bidder who fails to follow the terms of payment will be reported to iCollector, Live Auctioneers, Invaluable, or applicable bidding platform, and may be barred from participating in future Holabird Western Americana auctions.
25. RESTOCKING FEE: In the event that purchased item(s) remain unclaimed by the buyer for a period of more than 30 days after the auction concludes, or is returned without valid reason, the buyer shall be subject to a restocking fee equal to 10% of the total purchase price. This fee is intended to cover administrative costs, storage fees, and other expenses incurred as a result of the unclaimed or returned item.
26. UNCLAIMED MERCHANDISE: In the event that a successful bidder has paid in full for their merchandise but fails to settle outstanding shipping invoices or make arrangements for merchandise pickup within 60 days, HWAC reserves the right to declare the merchandise forfeited. This forfeiture will result in the merchandise becoming the property of HWAC and the successful bidder shall have no claim to or rights over the forfeited merchandise.
27. CONDITION: We strongly recommend that you attend the live preview to see lots in their entirety. Conditions are not always noted, and large lots may not be itemized due to catalog restraints. For questions, detailed information, or additional images of any lot please contact our office at 775-851-1859. Bidders are responsible for understanding the condition of items. Conditions noted are subjective, and may differ person to person. High resolution images of all items are available online for inspection. HWAC is not responsible for condition discrepancies; it is the bidders responsibility to determine condition prior to bidding.
28. RETURN POLICY: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. ALL SALES ARE FINAL. You may only return any piece that was significantly inaccurately described by calling our office within 10 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. Please call us if you require a more specific condition report. Any items that are returned must be returned in the exact, unaltered condition. When we receive your bids we will assume you have read the description in the catalog, viewed the image of the item, have contacted us regarding any questions you may have on any lot and/or have previewed the lot in person.
29. This sale is being held under the laws of the State of Nevada.
30. HWAC shall not be held responsible for any problem due to the bidder’s failure to follow the rules, terms and conditions of this sale, or any failure to bid due to the loss of the online auction process provided by any of the online auction networks; or missed bids, changed bids or cancelled due the bidder’s failure to follow the proper bidding procedure outlined herein.
31. By placing a bid or otherwise participating in the auction, Bidder accepts these Terms and Conditions, and specifically agrees to the dispute resolution provided herein.
32. HWAC shall not be responsible for consequential damages, incidental damages, compensatory damages, or any other damages arising or claimed to be arising from the auction on any lot. Bidder’s sole remedy for any proven act or omission shall be rescission of sale and refund of the amount paid by Bidder.
33. Any claim, dispute, or controversy in connection with, relating to and/or arising out of the Auction, participation in the Auction, award of lots, damages of claims to lots, descriptions, condition reports, provenance, estimates, return and warranty rights, any interpretation of these Terms and Conditions, any alleged verbal modification of these Terms and Conditions and/or any purported settlement shall be exclusively heard by, and the parties consent to exclusive in personal jurisdiction of, the Superior Court of Washoe County, Nevada. The parties expressly waive any right to trial by jury. Any claim must be brought within one (1) year of the auction from which the claim arose or the claim is waived. In every case, the prevailing party shall be entitled to an award of its attorney’s fees and costs.