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

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
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.


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