3320

Pewabic Mining Co of Michigan Stock

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:50.00 USD Estimated At:100.00 - 300.00 USD
Pewabic Mining Co of Michigan Stock
SOLD
1,800.00USD+ (450.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2018 Oct 20 @ 12:54UTC-7 : PDT/MST
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I/U #1651 Jacob Pierce 34 shares 1885. R5. "An underground copper mine located north of Hancock, MI, and just north of the Quincy Mine. The Pewabic Mining Co. was organized in 1853. For the first two years, work concentrated on opening prehistoric mining pits that traced an apparent amygdaloid bed. The first, and only, shaft Pewabic drove was driven on an incline following this bed. The shaft was located approx. 1,900 ft. north of the Quincy #2 shaft. The mineralization on the "Pewabic Lode" at the Pewabic Mine was not as rich as it was on Quincy's property. However, the company did manage to pay dividends amounting to $1 million. In 1884, management allowed the mining charter to lapse without renewal, and the company was forced to close. In 1891, Quincy Mining Co. purchased the property and renamed the shaft Quincy #6, which became famous for its fabulous shafthouse. A total of approx. 27 million lbs. of refined copper was produced between 1855 and 1884. Some pieces of copper can still be found today around the foundation of the old shafthouse, however, the shaft is privately owned." from mindat.com Creases. Prag Collection. City: State: Michigan Date: 1885 HWAC# 82127