Heritage World Coin Auctions
CSNS Signature US Coin Sale 1254 26-28 Apr 2017
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S.S. Central America Gold Bars
Kellogg & Humbert Gold Ingot. 34.70 Ounces. CABG-615. The firm of Kellogg & Humbert was established by two seasoned veterans of the private coining and assaying profession, John Glover Kellogg and Augustus Humbert, in April of 1855. Kellogg was born in New York on December 3, 1823. Trained as a lawyer, he caught gold fever at an early date and sailed around Cape Horn with the 80-member Cayuga Joint Stock Company on board the S.S. Belvedere, arriving in San Francisco on October 12, 1849. He was soon-associated with the well-regarded Moffat & Co., and stayed with them through their tenure as the U.S. Assay Office of Gold. Augustus Humbert was appointed U.S Assayer of Gold in 1851 and also worked with Moffat & Co. through all the changes of that firm, until they sold their facilities to the U.S. government to provide offices and equipment for the first San Francisco Mint.
The San Francisco Mint experienced many growing pains in its early days, and the volume of coinage it issued was clearly inadequate to meet the needs of the burgeoning economy. Private coiners, like the newly formed Kellogg & Humbert, were sometimes called on to augment the supply of circulating coinage when the Mint was unable to service the community. Kellogg and Humbert (and its immediate predecessor, Kellogg & Co.) was especially important in this regard, as revealed by an editorial published in the Alta California on May 1, 1855:
"The Mint, it is stated, will resume operations tomorrow. Should such prove to be the case, it will, of course, prove a subject of sincere congratulations among all business parties; but, at the same time, we cannot conceal our disgust at the whole course of the government in regarding the coinage of gold in California. It is not generally known, but is nevertheless the fact, that the principal private assay office in the country (Kellogg & Humbert) effects over fifty percent more towards the supply of coin to the country than the United States Mint does. The highest point reached by the Mint has been about $1,500,000 per month in coin. The assay office has for weeks at a time, manufactured from $60,000 to $80,000 per diem. Every banker in the State will acknowledge that but for the assay office the financial crisis in this State would have been prolonged for weeks and weeks. To it the holders of bullion had to look for coin, and but for it San Francisco might at this moment have been bankrupt."
Of course, Kellogg & Humbert only issued private coinage for a short time, as an emergency measure. Their primary business was assaying, and they are equally well-known for the quality of their refined gold ingots. When the famous S.S. Central America was salvaged in 1988, 343 gold bars of Kellogg & Humbert were recovered, far more than any other firm. Kellogg & Humbert continued operations until 1860, by which time the San Francisco Mint was able to adequately provide for the local economy. Classed as a Medium Size Ingot and weighing 34.70 ounces, this ingot has a lot of heft for its size. The top side is laid out: No 809 / 34.70 Oz / 861 FINE / $617.60. The company imprint is on the narrow right side. Bright yellow-gold color overall with small gas bubbles and other minor production defects (as expected) from the pour in 1857.
The ingot is housed in the original 1988 box with lock. Included also is the 2002 copy of Bowers's A California Gold Rush History. The book has a photo of this particular ingot on the inside back cover -- always a nice touch. Obviously all four elements of this lot have been together since placed on the market shortly after discovery.
HID02901242017
Kellogg & Humbert Gold Ingot. 34.70 Ounces. CABG-615. The firm of Kellogg & Humbert was established by two seasoned veterans of the private coining and assaying profession, John Glover Kellogg and Augustus Humbert, in April of 1855. Kellogg was born in New York on December 3, 1823. Trained as a lawyer, he caught gold fever at an early date and sailed around Cape Horn with the 80-member Cayuga Joint Stock Company on board the S.S. Belvedere, arriving in San Francisco on October 12, 1849. He was soon-associated with the well-regarded Moffat & Co., and stayed with them through their tenure as the U.S. Assay Office of Gold. Augustus Humbert was appointed U.S Assayer of Gold in 1851 and also worked with Moffat & Co. through all the changes of that firm, until they sold their facilities to the U.S. government to provide offices and equipment for the first San Francisco Mint.
The San Francisco Mint experienced many growing pains in its early days, and the volume of coinage it issued was clearly inadequate to meet the needs of the burgeoning economy. Private coiners, like the newly formed Kellogg & Humbert, were sometimes called on to augment the supply of circulating coinage when the Mint was unable to service the community. Kellogg and Humbert (and its immediate predecessor, Kellogg & Co.) was especially important in this regard, as revealed by an editorial published in the Alta California on May 1, 1855:
"The Mint, it is stated, will resume operations tomorrow. Should such prove to be the case, it will, of course, prove a subject of sincere congratulations among all business parties; but, at the same time, we cannot conceal our disgust at the whole course of the government in regarding the coinage of gold in California. It is not generally known, but is nevertheless the fact, that the principal private assay office in the country (Kellogg & Humbert) effects over fifty percent more towards the supply of coin to the country than the United States Mint does. The highest point reached by the Mint has been about $1,500,000 per month in coin. The assay office has for weeks at a time, manufactured from $60,000 to $80,000 per diem. Every banker in the State will acknowledge that but for the assay office the financial crisis in this State would have been prolonged for weeks and weeks. To it the holders of bullion had to look for coin, and but for it San Francisco might at this moment have been bankrupt."
Of course, Kellogg & Humbert only issued private coinage for a short time, as an emergency measure. Their primary business was assaying, and they are equally well-known for the quality of their refined gold ingots. When the famous S.S. Central America was salvaged in 1988, 343 gold bars of Kellogg & Humbert were recovered, far more than any other firm. Kellogg & Humbert continued operations until 1860, by which time the San Francisco Mint was able to adequately provide for the local economy. Classed as a Medium Size Ingot and weighing 34.70 ounces, this ingot has a lot of heft for its size. The top side is laid out: No 809 / 34.70 Oz / 861 FINE / $617.60. The company imprint is on the narrow right side. Bright yellow-gold color overall with small gas bubbles and other minor production defects (as expected) from the pour in 1857.
The ingot is housed in the original 1988 box with lock. Included also is the 2002 copy of Bowers's A California Gold Rush History. The book has a photo of this particular ingot on the inside back cover -- always a nice touch. Obviously all four elements of this lot have been together since placed on the market shortly after discovery.
HID02901242017