SOLD
4,000.00USD+ (800.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2016 May 14 @ 15:09UTC-7 : PDT/MST
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INTRODUCTION
The William Sharon (Virginia City, Nevada, Comstock) silver dinner plate ingots were first described by us over a decade ago. Lost to history for over a hundred years, one showed up in an eastern family archive. Since then a few more have surfaced. Although this does not have a name associated with it, like another that Holabird’s has had for sale before, there can be no doubt as to its authenticity. We have closely inspected a named ingot with a blank ingot we have had in the past. There is absolutely no doubt whatsoever that these two ingots were made by the exact same hand. They are identical down to the nth degree, something that is not possible to do from published photographs.
DESCRIPTION
Large presentation ingot for a celebration honoring William Sharon "by his old friends of the Comstock Lode," 1876. This ingot was made for all-out surprise celebration for Sharon and his friends. This ingot is blank where the others we have seen have the attendees name engraved at the bottom of the obverse of the ingot. Nineteen of these ingots were reportedly made for each of the attendees and a 20th for William Sharon. It is 6.13 troy ounces. Approximately 6.25" x 4" and 1+ mm thick. What makes this unique is that it has been professionally altered in the past to act as a small tray with four small ball feet and raised edges. Imagine having this on your desk holding your business card to hand to someone entering your office. Impressive!
THE STORY
The party was at the Palace Hotel, built by Sharon's old boss, William Chapman Ralston. Ralston had committed suicide several months earlier after the Bank of California's failure in 1875. It was at one time the largest and most powerful bank in the United States. The Bank had made it through the failure with the help of Sharon and friends. Reports said the affair had all the accouterments of an inaugural ball but was exceptionally private. Flowers were everywhere. The Palace Hotel manager, Mr. Warren Leland, was told to spare no expense, according to an article that appeared in the "San Francisco Examiner" the next day. It reported:
"It is fair to presume that the grand dinner spread in honor of William Sharon, in the Palace Hotel, on Tuesday Evening, has never been equaled in good taste or elegant surroundings on this continent. An enthusiast might say that 'it was fit for the gods' and it is doubtful whether there would be an exaggeration in such an assertion… No public announcement of the intended gathering was given, and Mr. Sharon was ignorant of the arrangements until he was escorted into the banquet hall."
The paper went on to report the attendees were all old friends of Sharon's "long before he found the means to build up a fortune." Twenty men sat at a single table. D. O. Mills, sat at one end, and General John F. Miller, of the Alaska Commercial Company, sat at the other. Judge Heydenfeldt was seated at Miller's left. Seated down the two sides were people who will be a familiar lot to those students of early Comstock history: Thomas Bell, William Lent, and W. Alvord, all part of the original Gould & Curry Company; William Morris Stewart, champion Comstock lawyer and later Senator; Wood A. Head and Bob Morrow, all early claim stakers on the Comstock from Nevada City and Grass Valley (Morrow was also supt. of the Savage); J. Sahaw, J. Skae, both mine superintendents on the Comstock; and G. S. Dodge, A. Gansl, A. Selover. Sta. Marina, D. L. Bliss and Steinhart. Apparently, while the men celebrated and told stories to one another, a band played nearby. There were no speeches; the party was a simple celebration of friendship in its grandest form.
The ingots were so exciting to the men and news media, that they were described in detail in the "Examiner." It reported that "At each plate were glasses for eight different kinds of wine. The napkins were folded flat, and on each was a delicate bouquet. Beneath the napkin was a bill of fare engraved on solid silver, dug from the Comstock lode, and highly polished. These measured about 6 1/4 by 4 1/4 inches… An observer "laughingly remarked… Everybody went away from the dinner with a silver brick in his hat."
SUMMARY
This ingot is important not only because of its rarity and of its presentation value to William Sharon, but because of what it represents. It is a remnant of an important turning point in California financial history, recognizing the great mines of the Comstock, the great bankers of California, and the ingenuity of American financiers in general - all at once. There would have been discussion of the Palace Hotel, just completed, and of Sharon's election to the Senate over his bitter rival James G. Fair, one of the Comstock kings. They would have discussed the old times on the Comstock in 1859-60, and their luck in California during the Gold Rush.
Although this particular ingot is blank, it is unquestionably authentic because it is identical in every way to those I (FH) have seen previously (and we've never published a detailed photograph of these ingots.) So the question becomes, why is there a blank ingot in existence? It could simply have been an item given to those who may have donated to Sharon's California Senatorial campaign or as a late fill-in for one of the New York attendees.
Regardless of the lack of an engraved name, this ingot remains one of the great silver presentation pieces of the nineteenth century. It encompasses everything about the nineteenth century West – one of the great Comstock financiers and bankers, a celebration of mining in the West and the incredible splash that the wealthy used at the time. This is one of four in excellent condition known today. (15% Buyer's Premium) City: San Francisco State: California Date: 1876 ID# 37230
Auction Location:
3555 Airway Drive Suite 308, Reno, Nevada, 89511, United States
Previewing Details:
Preview will be at our Auction Location, 3555 Airway Drive Suite 309 Reno, NV 89511
On Thursday, May 12, 10:00 am to 5:00pm at HWAC or by appointment.
Please call 775-851-1859
Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
7.75% |
Nevada Sales Tax |
| INS |
1% |
Insurance |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
23% |
Additional Fees:
| Fee | Amount | Applicable Locations | Applied To |
| Handling fee |
5.00
|
Not Applicable
|
This fee applies to the total of the invoice
|
Shipping Details:
We ship all lots direct from our facilities via USPS Priority Mail of FedEx ground. Other arrangements can be made at buyers expense.
IN ORDER TO GET INVOICES OUT PROMPTLY SHIPPING IS ESTIMATED. FOR LARGER ITEMS/INVOICES, WE MAY NEED TO RE-INVOICE YOU
FOR EXTRA SHIPPING CHARGES.
Payment Details:
Due on receipt of invoice.
If paying by credit card or check please call our office at 775-851-1859 to arrange payment.
Accepted Payment Methods:
- VISA
- Master Card
- AMEX
- Discover
- Money Order/Bank Draft
- Check/Cheque
- COD (cash on delivery)
- PayPal
- See Payment Details
- Wire Transfer
Cowboys & Indians & Miners
Absentee Bidding will end
Thursday, May 12, 2016
Internet bids accepted any time
Terms and Conditions
1. This is a Live Auction conducted by Holabird’s Western Americana Collections (HWAC).
2. Live (Floor) Bidding: Please arrive a few minutes early to check in and receive your bidding paddle. 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. Please be sure to bid on the correct lots during the live auction. Our auction progress is at a rate of between 100 and 200 lots per hour. When the auctioneer says “sold”, he 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. Auctioneer reserves the right to reopen the lot in the case of an immediate dispute at the actual time of the sale.
3. 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.
4. 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.
5a. 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 should 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 which 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.
5b. NEW BIDDERS: Bidders unknown to us 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 online users will be given a spending limit at their initial request. 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.
6. Internet Bidding: Absentee and Live internet bidding are both available through our live auction network. If you wish to bid LIVE via the internet, you MUST pre-register. A live video and sound feed will be 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.
WARNING: Auction participation through the live internet bidding site is not 100% foolproof. The technology for this process is still under development, 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.
7. 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.
8. 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
9. 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.
10. Bid Information: Collectors often ask in advance the price level of a particular lot. We will give out the current 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.
11. 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 fax are not advisable. Errors are easy to make and we are happy to assist all callers.
12. 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.
13. We reserve the right to reject any bid we feel is not made in good faith.
14. The placing of a bid shall constitute the bidder’s acceptance of these terms of sale.
15. Buyer’s Premium: There will be a 20% Buyer’s Premium added to each lot. US coins, nuggets, and bullion are calculated at a 15% buyer’s premium. These premiums include a 3% discount on the buyer’s 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 23% (18% on US coins, gold, & currency.)
16. Sales Tax: Sales tax will apply, according to state law, for any items that ship to or is picked up in Nevada (7.725%) unless a current, valid resale certificate is faxed to us at 775-851-1834 before bids are placed.
17. 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. Sales tax will be added to all sales picked-up after the auction or shipped to Nevada addresses, according to state law, unless a resale certificate is provided.
18. Payment: We accept Visa, Master Card, Discover, Money Order/Cashier’s Check, Personal Check or PayPal. A 3% cash discount is automatically calculated to the Buyer’s Premium on all sales. That discount will be reversed if payment is made with a credit card or through PayPal. To pay via PayPal or CC, you must contact our offices beforehand. 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.
19. Shipping: Shipping will be estimated prior to invoicing, based on the size and weight of your purchase. All shipping will result in a minimum charge of $19.00. Additional shipping fees may be invoiced separately. The buyer is responsible for arranging and paying for shipment of large or special items. A $5 handling fee will be included in the shipping charge. The customer is responsible for all shipping charges. We do not ship any purchases until the auction invoice is paid in full. 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 at no extra cost to the buyer. Federal Express shipments will be sent the Monday, Tuesday or Wednesday following receipt of payment. Pick up is available from our Reno office the next business day after the auction. 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.
20. 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.
21. 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.
22. 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.
23. This sale is being held under the laws of the state of Nevada, without reference to choice of law rules.
24. 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.
25. 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.
26. 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.
27. 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.
NEW BIDDERS
Bidders unknown to us must provide commercial references or a deposit of 25% of the amount to be bid in order for the auction staff to execute bids totaling over $25,000. Deposits will be credited towards lots won and any balance will be refunded within 10 business days after the auction has concluded. New online users will be given a spending limit at their initial request. 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.