Gold ingot risen from the deep could sell for over $120,000

An unusual rarity saved from a shipwreck is bringing a lot of attention to Heritage's rare coin auction

As we recently reported, Heritage's upcoming rare coins of America sale will be led by a classic rarity:  the 1856-O Double-Eagle which was once a part of the well-known Bullock collection and which hasn't been out of family hands for nearly a century.

However it is not the only spectacular piece of gold in the sale.

Running close behind its near contemporary, and ahead of exciting pieces such as a VF-25 1796 Draped Bust Small Eagle half dollar (current bid $42,500) and a rare (proof-only) 1876 gold $3 coin is a piece of American history.

It is a Kellogg & Humbert Gold Assayer's Ingot, 114.65 Ounces ('Very Large Size'), which was recovered from the SS Central America, also known as the Ship of Gold.

Gold ingot

The SS Central America operated between Central America and the US's east coast during the 1850s.

The 280-foot steamer was nicknamed "the Ship of Gold" because of its valuable haul of bullion. In September 1857, the boat sank in a Hurricane off the coast of North Carolina.

Four-hundred passengers and crew and 30,000 pounds of gold sank along with it. In fact, so valued was the ship's cargo that its sinking contributed to a sudden downturn in the US's economy - today remembered as the Panic of 1857.

With the exceptionally high price of gold due to its use as an investment, the ingot may be expected to do particularly well, and it already carries a bid of $120,000. Watch this space for the results of the sale.

• Learn how you can get pleasure and profit from unique collectibles
• Click here for all the latest Coins and Unique items news

Join our readers in 193 countries around the world - sign up for your free weekly Collectibles Newsletter today or download our free Collectors News app for your iPhone

Recent and Related Articles...

·  'Rarest New Orleans Double Eagle' to sell at Heritage's coins auction | 2 September 2010

One of fewer than 25 in existence, the fine gold 1856-O piece has been missing for a long time

·  One of the rarest Saint-Gaudens $20 coins could sell for $50,000 | 23 August 2010

Following on from its major US and World coin sale, Heritage gears up for the 'next big thing'...

·  Broad range of rare US gold and silver coins will sell today | 20 August 2010

Stephenson's Pennsylvania auction offers some great opportunities for collectors and investors

·  Prospecting made simple | 22 December 2009

Gold nuggets worth up to $45k are going under the hammer

·  $1m in coins and treasures to be sold online | 5 October 2009

Rare Mexican and Panama coins and shipwreck gold and silver appear in Internet auction

www.paulfrasercollectibles.com

Images: Heritage Auctions