Live Auction: Saturday, Nov. 3, 2001, 10 a.m., Reno, NV
Absentee Bids Due: Thursday, Nov. 1, 2001, 6 p.m. PST
Preview: Friday, Nov. 2, 2001, 5 to 9 p.m., Reno, NV

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INGOTS

We are very happy here to offer an exceptional array of original gold and silver ingots. Several of these are important ingots are exceptionally rare, not seen in the marketplace before. The stories they have to tell offer an exciting look at the mining industry in the 19th and early 20th centuries.  We spent an inordinate amount of time researching ingots for this sale and for an article I wrote in Coin World, published September 24, entitled Disputed Smithsonian Bars Genuine.  While searching records at the National Archives in Washington, College Park Maryland, and Santa Clara, California, we were able to ascertain that significant pieces of the historical record are present, potentially useable to trace specific ingots, particularly those of the San Francisco Mint and Assay Office. While more than three days were expended, I found that it was a warmup. We need another two days to fully investigate ingot sourcing material.  Hopefully, future consignments of ingots will allow us the pleasure of unlocking the historical identification of some of these US Assay Office and US Mint San Francisco ingots.

 

902.        Copper Ingot.  1622 Atocha Copper ingot.  On September 6, 1622, the heavily laden treasure galleon of King Philip IV’s Tierra Firme Fleet struck a reef and sunk in a raging storm.  Two hundred and sixty people perished and tons of gold, silver and other precious cargo were lost to the sea.  All attempts to locate the shipwreck failed until the discovery of the primary cultural deposit on July 20th, 1985.  The Nuestra Seņora de Atocha had a number of copper ingots on board, which were valued the same as silver.  These ingots were cast from copper mined on Cuba, and poured in crude sand cast moulds.  Many retain the shape of the shovel impression in the sand.  Copper was as important as silver because it was used in the making of bronze, an alloy necessary for the making of cannon.  In 1622, copper was scarce, in some cases even more so than silver.  It was not until later in the 17th century that the great copper deposits in Europe were found.  This ingot is 20 x 10 x 3.  It weighs about 80 pounds and shows oxidation of the elements.  “A L 86 165” on the top.  Est. $800-1000

 

903.        Gold Ingot.  Armstead Mill/ Lewiston Wyo./ Dec. 25, 1915.  On the side is engraved” “Genevieve C. Phipps”  29mm x 15mm x 9mm thick. 1.79 troy ounces. Probably 90% gold. This is a classic presentation ingot. Lewiston was an active placer gold area in Fremont County, about 5 miles south of the famous South Pass district, and 12 miles south of Atlantic City. .  About 1905 a few lode claims began development. The two most active districts in Fremont were the South Pass and Atlantic City. In 1907 the railroad was completed, allowing for greater access to Lewiston, which had been extremely isolated. The Burr mine was among the first producers at Lewiston, becoming active about 1907. The town was never more than a local mining camp. Today it is on fenced private property.  An article in  Mining & Engineering World, November 27, 1915 reveals the story of this ingot. “A test run being made by H. H. Armstead of ores from his several gold properties at Lewiston is making good progress.  The mill and cyanide plant have been running about 18 days and the final cleanup will be made in about 2 weeks.” Armstead was expecting to redo the crushing circuit in the spring.  This is a first mill-run ingot, made from the first ores processed in the mill.
                During the 1907-1910 period, very little gold was produced.  In 1914 the total gold output in Wyoming was 106 ounces of gold down from the 847 ounces from 1913, mostly from the Atlantic City region. In 1915 Wyoming’s total gold production was $14,000, all from gold placers. Nothing was reported for 1915.
                Lawrence Phipps was a director and later chairman of the Denver Salt Lake Railroad, formed in 1915. He was a major land baron and Colorado financier, developing a fortune that continues today, including the Highlands Ranch development consisting of tens of thousands of houses today. He had been elected as a United States Senator from Colorado. He had begun in the steel and iron industry, advancing through the ranks of the US Steel Co.  Phipps married Genevieve Chandler of Pittsburgh in 1897 where he had lived with his first wife who died. He had the marriage annulled in 1904 after she bore him two children. We assume a scandal was averted, but it is difficult to point blame or know the story. Nonetheless, Phipps did not remarry until 1911. In 1918 he was elected as Senator.  Genevieve Phipps (wife #2) disappears in literature search after 1904. They had their residence in Denver at 1154 E. Colfax.  By 1915, she had apparently moved to the Lewiston area, and was made a present of this ingot at Christmas. She may have been (probably was) an investor in the mine and Armstead mill with money she would have received from Phipps at the divorce. This ingot is undoubtedly a first mill product ingot, a typical keepsake of any new mill. Gold production in Wyoming was so small that we suspect this was a token gesture of thanks to Phipps.
                We know of no other ingots from any of the Wyoming mines at this time. [ref: Lindgren, Mining Districts of the Western US 1912;  Min Res 1905; Min Res 1907; Roush, The Mineral Industry 1908, 1910, 1912, 1913, 1914, 1915, 1916; Stone, History of Colorado 1918; 1902, 1904 Denver Directories; ghosttowns.com]  Est. $5,000-$10,000

904.        Silver Ingot.  Early silver ingot without mine or company name, circa 1870. 55mm x 14mm x 15mm. Oxidized. On top face: “Value $5.02”  Right face: “Silver 945 Fine” Left face: “Oz 3.62/ Gold 008 fine”  (weight verified)  This is a classic dore bar complete with metal impurities. It was possibly used as an exhibition ingot displayed next to ore specimens at a fair or exhibition. It bears no resemblance to known forgeries that  I am aware of. It shows signs of having been out in the open, perhaps in a mineral display case, with a thick crust of silver oxide, similar to iron oxide coatings on buried or sea salvaged gold bars. It does not show signs of chemical oxidation typical of some forgeries.  Speculation of the source of this ingot is nebulous. Deposits such as Mineral Hill carried this approximate ratio of gold and silver, but the impurities rule out that location. One of the silver regions of Colorado is also a candidate, but further study would be needed. Est. $750-1500
905.        Silver Ingot.  Nevada Metallurgical Inc.  Silver Ingot, five ounces, c. 1988-90.  2.5 x 1.5.  Proof.  Very fine underground mining scene on one side with a Comstock lantern in view with a miner.  Est. $150-300

 

906.        Silver Ingot.  Thorne Mining and Refining Co., Arizona.  8.07 oz. .999 Fine. Serial number 231. These ingots are fairly common, with more than 20 known. There are at least three gold ingots of the same design, also made with refined metal. These are not dore bars made by the Thorne Mining Company’s mill, but are refined metal perhaps from the Thorne refinery. We believe these ingots were made for promotional purposes and sold either at the refinery or at a local marketing establishment.  The Thorne ingots have been attributed to Prescott, Arizona from the 1890’s. We were unable verify this, and assume it was an assumption by prior writers, rather than hard fact.  We found two companies of similar name, and a miner and prospector with the same name. A)  Dan C. Thorn (e) (spelled both ways) was a miner in the Congress and Prescott area from the 1890’s through about 1905, living in the Eureka district not too far from Bagdad, the site of a major open pit copper mine in later years. Dan Thorn sold his claim groups in Congress in 1895-7 which were bought by the C. Clark Distillery of Illinois.  Thorn lived in Prescott for some time. His father built the Palace Bar, a well known “watering hole.” There is no record of a Thorne Mining & Refining Co. in the Prescott records. [ref: Arizona Mining Directory of 1903 by Millward; Sharlot Hall Museum (Prescott) biographical file on Dan Thorn(e).  B)  The Thorne Copper Mining & Reduction Co.  was based in Hawthorne, Esmeralda Co., Nevada. Stevens in 1908 wrote that this company had some “twin” companies with similar names that were all active around Walker Lake. We were unable to find specific reference to the Thorne Mining & Reduction Co., but it could certainly be one of the Esmeralda properties. [ref: Copper Handbook v8 p 1317]  C) A third reference needs to be checked out. There was a Thorne, Alaska that was an active gold area. In 1927-8, the Thorne Arm Mining Co. was active on the Thorne Arm on Revillagigedo Island. [ref: Mines Handbook p235]  More work is needed to identify the source of this ingot. The commonality suggests a marketing venture.  Est $600-1200

 

907.        Silver Ingot.  U.S. Assay Office, San Francisco Large silver ingot. “U.C. 93”  930.50 fine ounces troy, 895.75 fine.  The serial number “U.C. 93” is stamped on one end also. No marks on the reverse.  3.5” thick x 5” wide x 11.75” long. Light rust covered on 90%. Rust stains from the impressions of twelve $20 gold coins on the surface, each 34mm. The finished surface is slightly pitted. Because of the pitting and rust, it is obvious that this ingot is a salvaged piece, probably sea salvage. The ingot has the appearance of three cold joints, indicating the possibility that the ingot was made from four different pours, highly unusual. This may have happened because of the lack of a proper size crucible at the US Assay Office. The may have had to use one or more smaller crucibles instead of the normal 1000 ounce capacity crucible. Dating the bar is difficult. We visited the National Archives in the Bay area, but were unable to specifically locate this ingot in the records. The 550 plus boxes of San Francisco Mint records take considerable time to go through, and for myself, is like being a kid in a candy shop. It appears to pre-date 1933, predating the Gold Reserve Act because of the presence of the gold coins. We have never seen one of these large silver ingots before, and suspect that most, if not all, were melted, certainly by the 1981 $50 per ounce spike in silver price. We reviewed many of the western collections, as well as auction catalogs, and have found no comparable pieces. Extremely Rare. The ingot contains $3750 in silver at today’s price.  (I was close to getting specific information on this ingot at the National Archives, but jaws too close to press time – fh.)  Est. $20,000-40,000

 

908.        Silver Ingot.  U.S. Assay Office/ 155 Hermann St./ San Francisco Calif/ Jan 22, 1968, punched on top.  Large and flat.  On the reverse is $142.00 and 109.67 oz (troy).  This is not the usual SF Assay office ingot, and does not have the official ASAO, SF punch. We have heard stories of unmarked silver ingots coming from the USAO and Mint, but are unable to confirm them. This may also have been used in an exhibit. We cannot verify it without much more information. Est. 1000-2000

 

909.        Silver Ingot.  US Mint, San Francisco, 1959.  . 999.5 Fine silver. No weight stamped on reverse, 5.72 oz troy.  This ingot has the San Francisco 1959 Mint punch.  2 1/4” x 1 1/4” x 1/4” wide.  Est. $400-750

 

910.        Silver Ingot.  US Mint, San Francisco. #713. 999.5 fine silver.  US Mint logo  stamped at top.  2” x 1” x 3/4”.  [confirmation weight 6.66 oz, on calibrated scale] Small US Mint ingot. The Mint punch shows significant wear. The ingot was poured in a five ounce mould, showing the signs of over pouring. Older style Mint punch, but date uncertain. Other catalogers have called this style circa 1880-1900, but without proof. Est. $500-1000
CALIFORNIA

 

911.        Inyo(?)  Silver lead Ingot Mould, with the letters “O & Mo  M & S Co”,  28” x 6” x 5”, found in the Swansea /Keeler area years ago.  We were unable to find this mine designation in any of our references, which includes all of the Mineral Resources West of the Rocky Mountains series 1867-1875, The Reports of the Director of the Mint 1880-1885, the Reports of the State Mineralogist (California) 1882-1896. We are also unable to speculate, and are stumped. Nonetheless, these moulds are very rare. This was a silver-lead mould, dating from about 1880-1900, but could be older. It was for large ingots or bars just like the Cerro Gordo ingot in this sale. Est. $300-600

 

912.        Inyo.  Cerro Gordo.  Union Mine, Cerro Gordo, 85-pound silver-lead dore ingot dating from an uncertain period between the late 1860’s and about 1885.  24” x 4 1/1” x 3”.  In excellent condition. This ingot was a classic discovery about 40 years ago. A gentleman found about 11 Cerro Gordo ingots on the surface of Owens Lake after it first dried up, using a metal detector. There were about 4 different company names stamped into the bars using embossed moulds similar to one in this section of the sale. The bars have since been disbursed to museums and collections. This is from the D. Beach Collection in Bishop. The Union was the most important mine in Cerro Gordo. It began production early in the 1860’s as one of the first discoveries in the district. Massive silver bearing galena was produced here for about 20 years until the ores began to run out. A smelter was built nearby at Swansea, but most of the ores produced in later years went to Selby Lead in the Bay area for refining. These bars were probably headed for Selby and produced from the later period, as they carry only a small amount of silver, typical of deeper mining at Cerro Gordo. With the permission of the consignor, we had a bullion analysis run on this ingot. Bullion analyses are the only acceptable method of assay of ingots in the mining and metallurgy businesses. These special assays measure specific amounts of separated metals in a specific sample size allowing very specific calculations of metal content. Settlements between mining companies and the smelter and refiners are only made with bullion analyses. This ingot carries 0.001% gold, 0.578% silver, 97.78% lead, 1.17% copper. The remainder is probably zinc, for which we did no analyses. Zinc is the usual accessory metal in silver-lead deposits. The silver contained within this ingot is about 5.5 troy ounces. The gold is negligible, but present. The presence of gold, copper and probable zinc shows this ingot to be a classic mine silver-lead dore bar, an ingot poured at the mine. The analysis was made by drilling eleven holes in the back of the ingot, which do not show on presentation. This is a classic Inyo ingot, remnant of a very famous mining camp. Est. $2000-4000

 

913.        Los Angeles.  Los Angeles.  Calkins Co. of Los Angeles, 20 Ounce ingot mold.  Circa1905.  Approximately 2” tall by 3” x 5”.  2” deep.  Small mold with rounded corners.  Small chip out of top edge near company name.  Contrary to popular belief that molds with rounded corners are fake, this mold is in fact authentic and extremely rare.  Est. $100-300

 

914.        Mono. Casa Diablo. Casa Diablo Mine photographs.  Two original mounted photographs of a Casa Diablo gold ingot and of the Casa Diablo hoist house, circa 1908. The Casa Diablo was a late discovery, coming about 1905. In the October 19, 1905 issue of the Inyo Independent, they touted “new excitements at Casa Diablo.”  By 1907 they were declaring it a bonanza, and referring to the mine in the Casa Diablo district. By April of 1907, a new town site popped up there called Fohrman. About that time the Casa Diablo Gold Mining Co. was formed. They began construction on their mill in September 1907, completing it in December, with the first mill cleanup in April. By mid 1908 the mine was in full production with about 40 men spread between the mine and mill. They produced bullion for at least two years. This choice ingot from the Casa Diablo mine shows the mine name in bold print. Note the assay chips in the diametrically opposed corners. The fellow in the hoist house has his bell signal sign behind him (should be in front). Excellent condition. Special thanks to David Wright of Great Basin Research of the Ghosttowns.com internet site. We recommend this site for more detailed reading about western ghost towns. These guys have taken the time to cite news articles in mining camp newspapers such as the Inyo Register. Est $300-500

 

915.        Nevada.  Nevada Silver Co.  4.23 oz (verified) ingot of silver, 999 fine. The ingot has the typical Nevada Silver Co. logo with an eagle in a circular punch pattern. “999 fine/ 4.23/ val. $5.45” is below the logo. The ingot measures 53mm x 30mm x 8mm thick. On the reverse is “silver/ 999/ fine”  There are no markings on the edge. This ingot carries no ingot number, which is conspicuous, but helps tell the story. I have seen everything written about this ingot, but little of it fact. Stories abound about mines in Lida, Tonopah and Goldfield. But it appears to be much simpler. The Nevada Silver Co. was formed here in Nevada (Reno), probably as a silver promotional company. In the 1930s, a number of companies, particularly in the west, decided to take advantage of the potential for a rise in the price of silver by making silver rounds. Companies like Pedley-Ryan in Denver and Sterling Investment Co. in Reno were openly promoting the sale of silver in bulk by buying their “rounds”. The book So-Called Dollars by Hilber-Kaplan details the stories of several of these companies. We believe the Nevada Silver Co. was the same as Pedley-Ryan et al, selling silver in quantity for investment purposes. These ingots have slowly been taken up by collectors. Paul Franklin reported to me years ago that he had about 50 of them in the 1950’s that he got out of a safe in Tonopah which he sold long ago. They remain a popular first half of the twentieth century silver ingot. Est. $500-800
916.        San Francisco.  San Francisco Mint ingot # 1798. Contains the classic US Mint San Francisco spread eagle logo at the top. Underneath is: 1798./ 27.32 oz/ 999.75 fine”  “264” on reverse. Average size 74mm x 98mm x 10mm. This is from a clipped coining ingot, though the purity suggests it was always meant for the investment market. Est. $1000-1600

 

NEVADA

 

917.        Ormsby.  Carson City.  Silver Coin, One Ounce.  A Tribute to Nevada Miners/(pic of miner swinging a pick)/Adolph Sutro/1880-1898//Presented to the State of Nevada. Carson City/(pic of complex modern mining scene)/The Nevada Mining Industry October 31, 1983.  Rd, silver.  Proof in case.  Est. $50-100

917.5.     Storey.  Virginia.  Silver Presentation Ingot to Honor William Sharon.  Large presentation ingot for a celebration honoring William Sharon “by his old friends of the Comstock Lode”, 1876.  This large silver ingot bears Levi Parsons’ name on the obverse. The ingot was made for an all-out surprise celebration for Sharon and his friends.
                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. 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.
                The private affair had all the accoutrements of an inaugural ball, but was exceptionally private. Flowers were everywhere. The Palace Hotel manager, Mr. Warren Leland was told to spare no expense, and none were spared, according to an article in the San Francisco Examiner the next day. “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 any 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 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, famous California banker sat at one end, and General John F. Miller of the Alaska Commercial Company at the other end. Judge Levi Parsons from New York sat at Mills’ right and E. J. “Lucky” Baldwin sat at Mills’ left. William Sharon sat at Miller’s right, and Judge Heydenfeldt at Miller’s left. Seated down the two sides were 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; J. Shaw, J. Skae, both mine superintendents on the Comstock (Morrow was also supt. of the Savage); and G. S. Dodge, A. Gansl, A. Selover, Sta. Marina, D.L. Bliss, and Steinhart. A number of these men were also directors of the Bank of California (Sharon, Alvord, Mills.)
                While the men celebrated and told stories to one another, a band played nearby. There were no speeches, simply a 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. “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...  On the front of this novel and costly affair was inscribed in ornamental text and script…” words about the celebration and the menu, fit for a king.  An observer “laughingly remarked … Everybody went away from the dinner with a silver brick in his hat.”
                This ingot belonged to Judge Levi Parsons, and it bears his name. Parsons was born in New York, attending the Kingsboro Academy in his youth. He studied law from 1844 to 1847, when he was admitted to the Bar. He practiced for a very short time in Little Falls New York, but when the discovery of gold was announced, Parsons was off to the west coast to seek his fortune. He arrived like many others…with only $8.50 in his pocket. He quickly became involved in local politics, and in 1850 was among the first appointed judges of the Supreme Court in San Francisco by the State Legislature.
                He proceeded to accumulate a large fortune. He invested heavily in railroads, probably including the Virginia and Truckee Railroad, which his friend Sharon was a principal. But his coup was as the principal promoter and first president of the famous Missouri, Kansas, and Texas Railroad, the first rail in Texas. The rail town of Parsons, Kansas was named for him in 1871.
                While in San Francisco, Parsons became infuriated with an editorial by Editor Walker of the Herald. The argument “who wrote a criticism of the inactivity and inefficiency of Judge Parsons. Parsons overstepped his bounds, fined and jailed Walker, but public sentiment was not in his favor, nor was the appellant court, who overturned his decision in 1851.  Among his early California railroad investments was the Sacramento Valley Railroad in the mid 1850’s. Parsons was a director of the reorganized rail line in 1853, which ended up as California’s first railroad.
                Parsons remained in San Francisco for years. In 1862 his law practice was located on Washington Street, and he lived on Second Street.  He kept a very low profile. Though he was president of a major railroad, he kept out of the press – certainly having learned his lesson in the early days of San Francisco and the California gold rush.
                The silver ingot was the perfect gift for all the attendees.  Nearly all the men were heavily involved in mining at one time. Most were on the Comstock at the beginning. A very fresh story would have been shared about silver ingots, told by Senator Wm. Morris Stewart. Stewart had headed a bunch of investors along with John P. Jones in the mines at Panamint, California. In 1875 they pulled out a million in silver, but were acutely aware of highwaymen just waiting for the bullion laden wagons to come down the treacherous canyons out of the Panamints.  The mountains are so rugged, that there is about 6000 feet of relief in just over a mile of horizontal distance. Even the mighty
Wells Fargo & Co. would not dare to establish an express office there for fear the risk of robbery was too high.  “They said they wouldn’t run any risks at Panamint, not with that bunch of highwaymen lying around just waiting to swoop down and gobble up every dollar in sight.”  Stewart needed a plan. “Finally I hit on a scheme. I had some moulds made in which a ball of solid silver could be run weighing 750 pounds. Then I began smelting the ore, and I ran out enormous cannon balls of the precious stuff that could have bombarded a battleship. When the road agents saw what I was doing, their eyes stuck out of their heads…they acted as though I had cheated them out of property…”
                Conditions surrounding Sharon’s rise to Power.  Sharon was manager of the Bank of California in Virginia City. He had been hand picked by Ralston. He was a man who knew failure, and Ralston felt was not likely to want to fail again. Ralston told his Board that Sharon was the best poker player he had ever known. He could beat any of the Board at any game of business they chose, so that’s why he should head the Virginia City office. He would be the best manager of money and bank affairs they would ever hope for.
                There was a crash on mining stocks in May, 1872, which persisted until 1875. Another stock panic hit in August, 1875, which crushed the Bank of California, once considered “the strongest banking institution on the Pacific Coast.”  The great bonanzas of the Crown Point and others were only temporary fixes in a stock market that was wild with excitement and activity.
There was a run on the Bank of California on August 26, 1875. They closed on the 26th. Ralston had surrendered the Palace Hotel, one of his jewels which was not yet finished, to Sharon on the 25th. He had absolute confidence in Sharon. “They were closer than brothers”  wrote George Lyman in Ralston’s Ring. Ralston surrendered all of his personal property to the Bank for the benefit of the depositors.  But he was deceived. That day, Ralston had not a friend, as the entire Board turned against him, and left the bank in resignation. He would never return. Mills was instructed to tell Ralston of his dismissal, which was done the next day. In the afternoon, he walked into the ocean and never came out alive.  In the ensuing crash, the value mines of the Comstock shrunk to one thirtieth of their value that they had on Jan 1, 1875.
                D. O. Mills, the first  president of the Bank of California when it was organized in 1864, became president once again, and secured the funding necessary for the Bank’s reopening, which was on October 2. Sharon was a huge asset, tying up loose ends in Nevada and San Francisco. W. Alvord became the vice-president.  The stock exchanges in San Francisco, also closed because of financial panic, reopened on October 5. The Bank went on to great success and is alive today. 
                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 and the great bankers of California all at once. There would have been sad discussion of the tragedy of Ralston, but happiness at the success of the Palace Hotel, just completed, and of Sharon’s election to the Senate over is 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.
                While another of these ingots may exist in some museum archive, this is the only one made for Judge Parsons, and may be the only ingot remaining.  Est. $5,000 – 10,000
[References:  Bancroft; History of California, v6, p762; v7 p538-9, v7 p192; Levi Parsons Library web site. Library in Kingsboro, New York.; Langley; 1862 San Francisco Business Directory.; Stewart, Reminiscences of William Morris Stewart, 1908;  p155, p263; Cross, Financing an Empire, Banking in California, 1927, p369; Angel, History of Nevada, 1881, p 604; Cross; Financing an Empire, Banking in California, 1927, v3 pp75-79; v1: pp259-263, etc.; San Francisco Examiner February 10, 1876]