Gold recovered from SS Central America which sank in 1857 expected to sell for 211 times its original value

From The Daily Mail

Original source

A gold bar recovered from a ship that sank during the Californian Gold Rush is up for auction - with an estimate set at 211 times it's original value.

The ingot, which weighs 40oz and is expected to sell for about $140,000, was part of a 10-ton hoard of gold that went down with the SS Central America in 1857.

At the time, the cargo was worth $2million and its loss during a hurricane contributed to the ‘Panic of 1857’ - the world’s first world-wide economic crisis.

In 1987 much of the hoard was recovered from the seabed after the so-called ‘Ship of Gold’ was discovered in the Atlantic.

The epic discovery sparked a nine year legal battle after a host of insurance companies that paid out for the loss 155 years ago claimed ownership.

But it was ruled that 92 per cent of the bullion should be awarded to the discovery team, led by Tommy Thompson, whose company Columbus-America Discovery Group found the ship.

Now this Kellog and Humbert ingot from the ship is to be sold at auction.

Stamped on its base is the bar’s original value of $743.70 along with ‘Kellog and Humbert’. The reverse is a plain casting save for the serial number 648 repeated at the top.

Paul Song, director of the rare coins department at auctioneers Bonhams, said: 'This is a highly impressive example that sports gleaming yellow-gold colour and few imperfections as made.

'It is a piece rich with historical appeal that is an indelible link to the great Californian Gold Rush.

Read more: http://www.dailymail.co.uk/news/article-2188162/Ingot-recovered-Ship-Gold-sank-U-S-1857-expected-sell-100-000--211-TIMES-original-value.html#ixzz23dOWC8OC