SOLD
115,000.00USD+ (20,125.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2017 Sep 16 @ 09:39UTC-7 : PDT/MST
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John Glover Kellogg studied law in New York before joining an 80 member Cayuga Joint Stock Company which left New York for California on February 13, 1849 and arrived on October 12, 1849. In April of the following year he was hired by Moffat & Co and retained as cashier by them during their association with the United States Assay Office. He stayed with them during the transference of operations to Curtis, Perry and Ward in early 1852, but left soon after and tried his hand in the tobacco business until August 30, 1853.
With the imminent opening of the San Francisco Mint, the U.S. Assay Office ceased operations on December 14, 1853. At the time no private firms were coining gold and prior to the Mint opening there was a critical shortage of gold coins. Kellogg and his new partner, and former assayer with the USAOG, George F. Richter, were petitioned by a number of merchants and bankers to supply private coins until the U.S. branch mint went into operation. They obliged in February 9, 1854 and continued until the Mint finally opened on April 3rd. But even then the Mint could not keep up with demand and Kellogg and Richter continued to issue $20 gold pieces until April of 1855 (they even struck a dozen or so $50 round proof pieces.
On April 2nd Kellogg formed a new partnership with the former U.S. Assayer, Augustus Humbert. During this association the two melted down gold and produced gold ingots. This and the next lot are two of over 350 which have been recovered from the shipwreck S.S. Central America.
The present Kellogg & Humbert ingot wins the prize among this offering for fineness and actual weight; the fineness is finer than that of the Spanish Colonial gold doubloons of a few decades earlier, and the weight of the present bar accounts for just over one third of the total weight of the six ingots featured here! Featured on page 434 of the Bowers Gold Rush reference, this deep golden ingot is deeply impressed by the maker with the pertinent information, and rich orange toning offers itself in numerous places. A fitting ending to a trip through Gold Rush and Maritime history.
A nice size ingot from the most (relatively speaking) common of these Gold Rush gold ingots.
Auction Location:
5001 Great America Pkwy, Santa Clara, California, 95051, United States
Previewing Details:
auctions.kagins.com
Sales Tax on currency to non-dealers and coins under $1500 shipped to CA or $1000 to MD per tax accountant
Taxes:
| Tax | Rate | Desc. |
| CA |
6% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
17.5% |
Additional Fees:
Shipping Details:
Please allow 5-10 business once payment clears for you purchase to ship. Extra shipping charges for PO Boxes, Overnight, or International shipments.
Payment Details:
Invoice due upon receipt. Please allow up to 5-10 business days to ship once payment posts. There is an automatic 2.5% discount from auction fees when invoices are paid by cash or cash equivalent making your buyer’s fee still only 17.5%. Otherwise, the standard 20% buyer’s fee applies. Please make checks payable to Kagin’s, Inc.
Don’t forget, Kagin’s Auctions Loyalty Program gives you 1% of your invoice subtotal towards your next auction purchase! See Terms & Conditions for more details.
Bank Wire Instructions:
Name of Bank:
Wells Fargo Bank
Address:
1500 Tiburon Blvd.
Tiburon, CA 94920 U.S.A.
Name of the account:
Kagin’s, Inc.
Address:
1550 – G Tiburon Blvd. #201
Tiburon, CA 94920 U.S.A.
Kagin’s Account Number:
995 8039449
Routing number:
121 000 248
SWIFT CODE WFBIUS6S
Auctioneer reserves the right to void an invoice if payment in full is not received within 7 days after the close of the Auction.
If any Auction invoice submitted by Auctioneer is not paid in full when due, the unpaid balance will bear interest at the highest rate permitted by law from the date of invoice until paid.
Any invoice not paid when due will bear a three percent (3%) late fee on the invoice amount.
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Terms and Conditions of Sale
1. Auction Company. This public auction is being presented by Kagin’s Auctions, a division of Kagin’s, Inc. (“KA”)
2. Binding Effect of Terms and Conditions. These Terms and Conditions are legally binding on anyone that registers
to bid, or actually does bid, at a KA auction. They define the relationship between bidders and KA before, during and after
the auction, and limit KA’s liability to bidders.
3. Consignors and Reserves. This catalog contains descriptions of property belonging to many persons known as
consignors. KA is not required to divulge to prospective bidders the identity of any consignor, except as provided by these
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which KA is not required to disclose to prospective bidders. The Consignment Contract may permit a consignor to bid on his
or her own lots and pay commissions if successful. If a consignor bids from the floor for his or her own lots, KA may so note
to all present. KA reserves the right to omit from its published prices realized the purchase prices of items re-purchased by
their consignor(s).
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of fax, or by mail, provided that they obtain a catalog and complete either a registration card (if bidding in person) or the
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credit references or deposit such amount as KA may require in its sole and absolute discretion before bidding. Such deposits
will be applied to purchases and unused portions returned after the auction. Finally, for the protection of mail bidders no
“unlimited” or “buy” bids will be accepted.
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loan or advance funds to consignors and/or prospective bidders, and may thereby acquire interests in items sold at a KA
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statements of good faith opinion and not warranties. KA relies on the opinions of leading third party certification services,
and supplies information relating to certified items only for the convenience of mail, telephone and fax bidders. Floor
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their purchases, but are encouraged to make their own investigations in case of doubt.
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discretion, by special appointment. KA encourages floor bidders to examine items before bidding on them.
9. Bidding at Auction. The auction shall take place at the time and place set forth in this catalog, or at some other
time and place as KA may, in its sole discretion, determine. The auctioneer will offer lots in number sequence within each
auction session, subject to KA’s right to withdraw any lot at any time. Only entire lots will be offered unless the auctioneer
directs otherwise. Bidding will open at an amount set by the auctioneer in his or her sole discretion (including by reducing
a mail bid to a level the auctioneer deems appropriate), and will continue at such increments as the auctioneer directs until
the auctioneer declares the lot sold. The auctioneer may accept or decline any bid in his sole discretion, and where more
than one identical bid is received for an item, the auctioneer may prefer the first bid received and may prefer a mail bid over
an identical floor bid. In case of any disputes regarding the existence or amount of bids the auctioneer may rescind the sale
of that lot and re-sell it, or otherwise direct disposition of the lot in his sole discretion. In all cases, the auctioneer’s decision
shall be final. KA IS NOT RESPONSIBLE FOR ERRORS IN BIDDING, and mistaken bids will not justify rescission of a sale.
00_Sep2017_WCA_FrMatter.indd 11 8/25/17 7:41 PM
xii Kagin’s Auctions
Terms and Conditions of Sale (Continued)
10. Buyer’s Commission and Taxes. THE PURCHASE PRICE FOR ALL LOTS INCLUDES THE SUCCESSFUL BID PLUS A
BUYER’S COMMISSION OF 17 1/2%, except as otherwise provided by written agreement between a bidder and KA. Bidders
acknowledge that they are responsible for all sales, use or other taxes applicable to their purchases, and for any interest or
penalty related to unpaid tax, regardless of whether KA collected such taxes at the time of purchase.
11. Kagin’s Loyalty Discount. All successful purchasers shall be entitled to a credit against any future
purchases in a KA auction, in the amount of one percent (1%) of the total purchase prices paid by
them (hammer plus buyer’s commission – taxes or other charges not included), such credit to extend to the next two (2) KA
auctions, or a period of 1 year, whichever is longer.
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purchasers will receive an invoice from KA detailing their purchases and the date payment is due. Title and risk of loss to
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terms, they will be liable to KA for interest on the unpaid balance at the rate of 1 1/2% per month (or the maximum rate
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engaging an attorney and pursuing legal proceedings). In addition to the foregoing, purchasers grant KA a security interest
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themselves or other items), and agree to execute such documents as KA may deem needed to evidence this security interest.
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apply the proceeds to purchaser’s debt and to reimbursing KA for costs related to the resale.
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the item prior to the purchase. In all other cases, returns are accepted provided each of the following conditions is met: (1)
the purchaser contends that the item is counterfeit, contains an altered date or mintmark, or contains undisclosed repairs;
(2) the purchaser notifies KA in writing of his or her contention within five (5) days of receiving the item (if purchaser did
not timely pay for the item, his or her return privilege is waived); and (3) the item is returned in its original, sealed and
unopened container. Notwithstanding the above, coin returns are not accepted in cases involving cleaning, artificial toning,
provenance or pedigree, or strike, or whether a coin is a proof.
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DAMAGES ARISING FROM PURCHASE OF ANY ITEM AT AN KA AUCTION.
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in accordance with California law (excluding choice of law rules). Any claim or controversy arising out of or involving an
KA auction or any provision of Terms and Conditions shall be resolved by arbitration in California through the Professional
Numismatists Guild, with the prevailing party being entitled to an award of its attorney’s fees and costs. Judgment upon an
arbitration award may be entered in any court of competent jurisdiction.