SOLD
3,500.00USDto 9***3+ buyer's premium (735.00)
This item SOLD at 2017 Oct 21 @ 12:09UTC-7 : PDT/MST
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This is the largest of only five known tin ingots from San Francisco assayer Stephen Molitor. Stamped "Nigger Hill Tin" on one side and "Stephen F. Molitor / Assayer / Deadwood, D.T." on the other. The ingot measures one inch high, two inches wide and one inch deep. 108.9 grams. Stephen Molitor was the son of A. Molitor, considered one of the great California Gold Rush assayers and one of the men originally involved with the U.S. Assay Office. In January 1859 Augustus and his son formed a new company called S, Molitor and Company. By then Stephen had worked in British Columbia during the Fraser River gold rush of 1857-1858 as well as in San Francisco with his father during earlier years. A third brother named Titus also worked for the firm.
S. Molitor and Company's business in San Francisco flourished for a while. Then Stephen took off for a gold rush in San Diego County, but that did not last long. Molitor was then off to Helena, Montana and the Montana Gold Rush, then to Deadwood in the early 1880's as part of the Black Hills Gold Rush, which was home to United State's largest single gold mine, the Homestake Minng Company.
Tin Discovery at Dakota Territory
It was in Dakota that Stephen Molitor became part of a new type of gold rush. Tin had been discovered by prospectors while panning for gold. A heavy brown mineral called cassiterite was holding firm in the bottom of the pan with the gold after the black sand was removed, and caused little excitement at first. It was first found in the northern Black Hills in 1876 by a Colorado prospector, Richard Pearce. The second discovery was in the southern Black Hills is 1877. Assayer Theo Vosberg and Fred Cross were the first to recognize the tin in bullion. Molitor must have been intrigued by this discovery.
Tin Creates a Gold Rush in Dakota
There was no rush for tin at first. It was an anomaly in the miner's gold bullion, another heavy metal that got in the way, but did not seem to be of importance. Certainly its value as pure bullion seemed to pale in comparison to gold, hence the tin issue was sort of set aside for awhile, but not completely ignored. All that changed in 1883 when A. Simmons of Rapid City sent ore specimens to San Francisco for analysis from the Etta mine. Once cassiterite was recognized as a primary ore mineral in the samples, excitement began. The Etta had been mining mica, which was used for stove windows. With the discovery of tin, however, mica mining came to a halt.
The Etta property was bought by the Harney Peak Tin Mining, Milling, and Manufacturing Co. in 1884. A similar group had started the Harney Gold Mining Co. about the same time. During this period, tin prospecting was at a height. Molitor's business would have been booming for gold, silver and tin assays. Numerous companies, including the American Tin Co. which was partially owned by Molitor, were active. Beginning in 1885, hundreds of mining claims changed hands. It was reported by some that several mills were built, and a few thousand pounds of tin were produced.
The Etta mine built a 100 ton per day mill for the tin ores in 1884, but real production did not begin until 1886. They ran about 400 tons of ore and produced 7 tons of tin. They stopped in May of 1886 because the tailings had too much ore in them. A report and evaluation by a qualified mining engineer was needed.
The two most active areas were in the Keystone area of the southern Black Hills near the Etta Mine, and near Tinton, on the Wyoming-South Dakota border in the northern Black Hills. One of the early discoveries of tin in the Tinton area was by an African-American. In fact, the mining district there was inappropriately named Nigger Hill, rather than after the man's true identity, which will take more research to uncover. This is the region that Stephen Molitor jumped into as an experienced assayer and a mining man.
Molitor and the American Tin Co.
Molitor and his partner Trebor staked a group of at least 13 claims in 1885-6 and incorporated themselves the American Tin Co., with their corporate office at 53 Broadway in New York City. The results of the tin assays from ores on their claims were reported in Mineral Resources of the United States in 1886. The ore ranged from a low of 0.5% tin to 5.5% tin. Their claims were located on three different pegmatite-quartz veins which spanned a mile in length. By mid 1886, they had a shaft ten feet deep and an open cut 35 feet long exposing the ore. This was a period of high activity in the area, and many others were also developing their prospects by open cuts and shafts. The American Tin Co. expanded their holdings to 53 mining claims. They also set up a sister company, the Cleveland Tin Co. San Francisco assayer John Taylor also got in on the fray and staked claims there as well. It was at this time that Molitor probably poured the ingot, using it and others, for promotional purposes. At least two of these ingots survive today.
When the Etta mill shut down, the miners sensed a collapse. Prospecting for tin slowed. Most men returned to the quest for gold, leaving the search for tin, which was relatively poorly understood, to others.
While the literature states that several mills were built, in fact only one mill was built, and less than ten tons of tin were actually produced. Other trial mills may have been built, but none were as substantial as the Etta mill on the Harney property. It was philosophically better to state that thousands of pounds of tin were produced, rather than a few tons were mined. Big numbers sound better, particularly to potential investors. Though there were more than 500 tin claims staked, few made production stage, and none ever developed into the commercial success that the miners had hopes for. The boom had bust.
Sometime in 1885 a British company was organized to acquire all of the principal tin properties in both districts. They sent four men to Dakota to evaluate the mines, led by M. Vincent. Forty tons of ore were shipped to England. The ore was tested by Fred Claudet, the assayer for the Bank of England and Johnson, Mathey & Co. which showed 2.8% tin. A second shipment was made later that yielded 4.6% tin. Famous geologist William P. Blake, who had written the exhaustive paper on native gold specimens in California in 1885, was called in to examine the property. A trial run of 400 tons produced 7 tons of tin.
A new company was formed. They made such wild claims in Britain about the richness of the ore grades, that the Engineering and Mining Journal felt it necessary to fully expose the exaggerated extravagance of expectations of value. The sales of the securities thus collapsed.
Engineers wrote a report suggesting an average grade of $5.20 per ton with a reserve of about 90,000 tons. The securities were sold via the Harney Peak Consol. Tin Co. Limited, and $1.5 million was subsequently spent without production of one pound of tin. The reported grade was far too low to be considered ore, and even if all the reserves were mined, the gross product would have been less than one third of the money expended. A scandal was in the air.
They didn't give up. By the end of 1892, they had redone the mill and begun the production of tin. But production was less than three months. They shut down all operations by February, 1893. The British shareholders began a suit in American courts alleging fraud and misrepresentation by the managers. A receiver was appointed from New York. Work on the property continued for a few years with promising results, but no production. By 1900, the properties were sold to two new ventures, The Niagara Tin Smelting Co. and the North American Tin Co. Intermittent prospecting and minor production took place for more than twenty years.
The Tin Business in America
Tin was imported into America for our domestic use. It is estimated that from 1880 to 1885, about 33,000 to 41,000 tons of tin were produced annually worldwide. Tin sold on the open market. The price of tin was subject to greater fluctuations than other metals on account of the operations of speculators, according to David Day in 1886. They ranged from 17.12 cents per pound to 22.12 cents per pound in 1885 alone. This is about $400 per ton, or equivalent. By comparison, if the miners in Dakota could produce a quantity of 5% tin ore, it would have been worth $20 per ton, equivalent to one ounce per ton gold ore, which was the approximate average ore grade of the local gold mines. Thus the tin ores rendered equal excitement to gold because the ores were worth about the same.
At the time, America was also an exporter of tin products. We exported about $160,000 to $500,000 per year. We imported tin in the form of ingots, grains, and sheets; about 225,000 tons valued at about $18 to $25 million per year. Our internal production was nil, thus the high degree of interest in the potential of tin mined in America. The country consumed about 10,000 tons per year.
Tin as a precious metal
Tin was not considered a precious metal because it was not a primary metal of banking commerce in world trade, though it had been in ancient times. As such, data on discoveries and production were left out of many of the classic mining references that were funded by Congress chiefly to report on precious metals.
The amount and purity of tin were measured both in rocks and in ingots by conventional assayers. Cassiterite, the primary ore mineral of tin, is dense. Its specific gravity is about 7, or 7 times heavier than water. In comparison, galena, the lead sulfide mineral, has a specific gravity of 7.4; quartz is 2.6; argentite (silver sulfide) is 7.3; silver is about 10.5; pyrite (fools gold) is about 5; magnetite is also 5. Gold is 19 (19 times heavier than water) in its pure form, less when in electrum form combined with silver; Thus a miner panning gold would routinely find the tin in the form of cassiterite at the bottom of his pan in the heavy metals after the magnetite was removed.
The ingot inscription refers to a tin and gold mining area in the Black Hills of South Dakota, discovered by African Americans. Author Hyman Palais explained the origin of the name of the "Consolidated Nigger Hill Tin Mines" in an article "Black Hills Miners' Folklore" in California Folklore Quarterly, Vol. 4, No. 3. (July, 1945), pp. 256: "Another story tells how a group of Negroes from Montana came to the Hills in the early days of the gold rush and asked some miners where they should go to work. The miners jokingly advised them to try the top of a near-by hill, the least likely spot they could think of. Much to the surprise of everyone, luck crowned their efforts, and these Negroes found more gold in this out-of-the-way place… than many of the gulch miners had discovered below." The area was also found to have the largest deposit of tin in North America, so much so that it also became known as "Tinton".
The provenance of this ingot is from the Fred Dennett Archive (Lot 4202 in this auction.) Dennett was the 32nd Commissioner of the General Land Office, 1908-1913. City: Deadwood State: South Dakota Date: HWAC# 51849
Auction Location:
3555 Airway Drive Suite 309, Reno, Nevada, 89511, United States
Previewing Details:
Preview will be at our Auction Location,
3555 Airway Drive Suite 309
Reno, NV 89511
on Wednesday, October 18th from 10:00 am to 5:00pm or by appointment.
Please call 775-851-1859
Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.265% |
Nevada Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
24% |
Additional Fees:
| Fee | Amount | Applicable Locations | Applied To |
| Handling |
5.00
|
Not Applicable
|
This fee applies to the total of the invoice
|
Shipping Details:
SHIPPING & HANDLING: Shipping and Handling cannot be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
Large, heavy or fragile items will incur extra shipping charge. After initial payment we will pack your shipment and print shipping label. We will then re-invoice you for any additional charges.
Please consider extra costs of shipping and handling charges when you make your purchases.
We encourage you to pick up items after the auction. Many items may require special handling and would incur additional handling and shipping costs way beyond those anticipated.
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This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
Terms and Conditions
1. The placing of a bid shall constitute the bidder’s acceptance of these terms of sale.
2. BUYER’S PREMIUM & INSURANCE: There will be a 21% Buyer’s Premium added to the sale (hammer) price of each lot, which includes a 1% fee for insurance that covers your purchase during transit. This is our base premium for transactions paid with cash, checks, money orders or wire transfers. All other forms of payment are not subject to the 3% discount and the Buyer’s Premium will be calculated at 24%. In order to expedite billing and convenience of payment, all initial invoicing will be calculated at 24%. Please call our office if paying by cash, check or money order and we will gladly recalculate the premium prior to payment.
3. COINS, CURRENCY AND PRECIOUS METALS: Premiums will be calculated at a Buyer’s Premium of 18.5% (includes insurance) for transactions paid with cash, checks, money orders or wire transfers. All other forms of payment are not subject to the 3% discount and the Buyer’s Premium will be calculated at 21.5%. 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, 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 will apply, according to Nevada State law, for any items that ship to or are picked up in Washoe County, Nevada (8.265%) unless a current, valid resale certificate is faxed to us at 775-851-1834 before bids are placed.
5. SHIPPING & HANDLING: Shipping and Handling will be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a MINIMUM charge of $19.00 plus a required $5 handling charge. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
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7. TELEPHONE BIDDING: Telephone bidding requests 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: Mail or FAX 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 if an estimate is provided. Bids on “No Lots” or “Withdrawn” Lots are considered no-bids. Bids made in amounts that do not conform to the bid increment table in item 8 below will be automatically rounded up or down by the computer, or rounded 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. Absentee bids 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 for those bidding via the Internet. 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. Please note that 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. 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.
11. 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.
12. RESERVES: Most of the lots in this auction are unreserved. Gold is generally reserved at or near spot, though it could be slightly below spot.
13. 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
$2,950
$100
$3,000
$9,750
$250
$1,000
$30,000
$500
$30,000
Up
$1,000
14. 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.
15. 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.
16. 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.
17. 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.
18. We reserve the right to reject any bid we feel is not made in good faith.
19. INVOICING: Shipping charges will be added to all invoices. 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’s 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.
20. PAYMENT: We accept Visa, Master Card, American Express, Discover, Money Order/Cashier’s Check, Personal Check or PayPal. Customers wishing to pay by check or money order MUST contact our office for an invoice total before sending payment 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.
21. SHIPPING & HANDLING: Shipping and Handling will be estimated prior to invoicing, based on the size and weight of your purchase. All shipping is subject to a minimum charge of $19.00. If additional shipping and handling costs are required, the buyer will be reinvoiced for the balance due. Items are not shipped until the invoice is completely paid. Many buyers purchase a number of lots. Every effort will be made to include all lots in a single shipping charge calculated to cover the weight and size of the package(s). NOTE: Some shipments (of unusual size, dimension, or weight) may require special handling for which individual costs will be calculated and applied to the shipping charge on the invoice. The buyer is responsible for arranging and paying for shipment of large or special items. The customer is responsible for all shipping charges. Purchases will be shipped via our approved, insured carriers: Federal Express or the US Postal Service. All items shipped Federal Express or USPS will be insured for the full value determined at auction by HWAC, which is included in our buyer’s premium. Pick up is available from our Reno office the next business day after the auction.
22. 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 underbidders 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 and may be barred from participating in future Holabird’s Western Americana auctions.
23. 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 in the opinion of different people or collectors.
24. RETURN POLICY: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. You may return any piece that was significantly inaccurately described by calling our office within 15 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. We have attempted to describe the items and their condition accurately. If no condition is given, assume average. Please call us if you require a more specific condition report. Any items that are returned must be returned in the exact, unaltered condition. NGC certified tokens that are returned must be original, unaltered NGC holders. Any tokens removed from the original NGC/NCS certification holders or items returned in an altered condition are deemed not returnable under any circumstances. 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. Therefore, returns are only accepted if prior approval is given by Holabird’s Western Americana Collections.
25. This sale is being held under the laws of the State of Nevada, without reference to choice of law rules.
26. HWAC shall not be held responsible for any problem due to the bidders 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 bidders failure to follow the proper bidding procedure outlined herein.
27. 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.
28. 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.
29. 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.