The Holy Grail of Toned Silver Ingots
The Holy Grail of Toned Silver Ingots
The Holy Grail of Toned Silver Ingots is an ingot that was sold at auction by Heritage Auctions in 2022. This is a look at one of the world’s most beautiful silver ingots by California Numismatics Attorney Sebastian Gibson and what may in fact be the holy grail of toned silver ingots produced by the U.S. Mint in San Francisco.
Photo is courtesy of Heritage Auctions
The Holy Grail of Toned Silver Ingots
A San Francisco Mint Type One 5.02 ounce silver ingot sold at auction just may be the holy grail of toned silver ingots and a priceless find in the amazing American history of gold and silver mining.
The holy grail of toned silver ingots, in the opinion of Numismatics Lawyer Sebastian Gibson is a rare and unparalleled collectible Type One Hallmark with a large serial font, curved stem 9s, 999.75 Fine, likely from the early 1930’s to mid 1940’s produced by the San Francisco Mint of the United States. It is only one of two known silver ingots produced by the San Francisco Mint with the lot number stamped over the hallmark.
What makes this ingot the holy grail of toned silver ingots is its rich and magnificent toning on all six sides of the ingot. In a word, the toning is incredible. There are amazing colors, and astounding shades of colors which merge into other perfectly matching colors one after another in ways no artist could imagine.
No other silver ingot I have researched comes remotely close to the incomparable toning of this unassuming 5 ounce silver ingot produced almost haphazardly by the San Francisco Mint. This is, in my opinion, the holy grail of toned silver ingots.
It’s not a silver ingot from a treasure ship or from a hoard buried by pirates. It’s not from some romantic far off land or carried far from where the silver it’s made of was found. Instead, it’s likely the result of a miner presenting the San Francisco Mint with some silver he or she likely found not all that far from the Mint itself in northern California to be fashioned into an ingot.
The result is this unbelievably amazing and richly toned ingot, with its lot number probably punched over the hallmark because the number punch was too large to fit on the edge, and rather than seeking a smaller punch the lot number was simply stamped across the hallmark.
The holy grail of toned silver ingots was sold by Heritage Auctions in May of 2022 alongside other rare coins. Yet, this small silver ingot isn’t a coin. Nor is it just a slab of silver, albeit with amazing toning. It is, in fact a work of art, produced from silver found in nature and then almost as if nature was saying, look what I can do with just a hunk of silver. I can splash it with incredible colors to form an absolute work of exquisiteness over the years to become the piece of beauty that it is today.
It is no wonder, this truly magnificent silver ingot sold for a near record price for such a small ingot. In short, nothing comes close to this silver ingot in terms of eye appeal and beauty.
California Rare Coin, Silver Ingot Numismatics and Fine Art Attorney Sebastian Gibson
California Rare Coin, Silver Ingot Numismatics and Fine Art Attorney Sebastian Gibson has been named a Palm Springs Top Lawyer for the past 12 years in a row. With law degrees both in California and in Great Britain (magna cum laude) and over 45 years combined experience in London, Los Angeles, San Diego, Palm Springs, and Palm Desert as well as in England, Wales and other countries internationally, California Rare Coin and Ingot Numismatics and Art Attorney Sebastian Gibson is the right choice for assistance and advice with your coin collection, whether you’re a coin collector yourself, or an heir who has come into ownership of a coin collection.
California Rare Coin and Silver Ingot Numismatics Lawyer Sebastian Gibson is also recognized as an Art Lawyer who advises artists, art galleries and collectors of coins, art, collectibles and intellectual property throughout the world and clients with a focus on Great Britain and Europe, having previously practiced law with Wall Street firms in London before forming his own law firm in California. He is also widely respected as an entertainment attorney representing models, writers, publishers, film producers, songwriters, and musicians in the U.S. and internationally and is himself a published author.
Before obtaining law degrees both in California and in Great Britain, California Rare Coin Numismatics Lawyer Sebastian Gibson was formerly a musician and songwriter and performed internationally in Europe and Canada. Rare Coin Attorney Sebastian Gibson has also written for the Los Angeles and San Francisco Daily Journal newspapers.
Should you or someone you know need advice with regard to rare coins, art, photographs, or other collectibles that you may have inherited and need to consult a numismatist or art lawyer, the right choice to call is California Rare Coin and Ingot Numismatics Lawyer Sebastian Gibson.
We hope that this article about the holy grail of toned silver ingots will only increase your enthusiasm for rare coin and ingot collecting and increase your appreciation of the beauty found in rare silver ingots. In the opinion of Attorney Sebastian Gibson, there are no more beautiful silver ingots than the one which is the focus of this article and that this ingot is the most beautiful silver ingot in the world.
Whether you’ve inherited a coin collection as an heir from a trust or estate, you’ve decided it’s time to sell your own rare coins, or because of this article you decide you’d like to start collecting rare coins, California Rare Coin and Ingot Numismatics and Art Lawyer Sebastian Gibson is the right choice for advice and assistance.
Photo is courtesy of Heritage Auctions
History of U.S. Mint Silver Ingots
Silver ingots were produced at United States Mints from 1892 through 1984, however the first fine silver ingots were produced at the San Francisco Mint in the early 1930’s. Most silver ingots produced by the Philadelphia Mint, by example, were produced in later years.
With silver having a spot average price of only $1.00 throughout most of those years, it is likely that the great majority of the silver ingots produced by the U.S. Mints and Assay Offices in San Francisco as well as in other locations such as in Philadelphia were melted down when silver reached much higher prices and then most certainly when in fact spot silver sold for almost $50 in 1980.
Today with silver spot price only in the low $20 range, numismatic value far exceeds the value of the bullion contained within the silver ingots which have survived.
The San Francisco Mint Which Produced the Holy Grail of Toned Silver Ingots
Not long after gold was discovered in California in 1848 on the property of Johann Sutter in Northern California near Coloma, the San Francisco Mint was opened in 1854 to serve gold miners in the California gold rush.
However, while the San Francisco Mint produced the most silver ingots of all the United States Mints and Assay Offices, both in numbers and variations, it did not begin producing silver ingots until the early 1930’s.
Miners could bring the silver they had mined in for refining and assaying and the San Francisco Mint would then provide them with the resultant silver ingots.
Types of San Francisco Silver Ingots
The San Francisco Mint predominately produced silver ingots identified by three types, Type One, Type Two, and Type Three. Type One ingots were in the 5 ounce range, although with large fonts, medium fonts, and small fonts, and with other variations as well such as curved stem nines and straight stem nines, oval hallmarks and round hallmarks.
There are additionally, strip cast, sheared ingots, apparently having been cut by a metal plate cutting shear. These were produced in the early 1950’s, although no one knows why these large plates were produced or what they were for. There are also 25 ounce silver ingots, and even loaf ingots.
Five ounce ingots today are generally the most desired by collectors. Conversely, 100 ounce silver ingots produced by the United States Assay Office San Francisco are quite common.
Photo is courtesy of Heritage Auctions
The Holy Grail of Toned Silver Ingots, A Silver Ingot From the U.S. San Francisco Mint
The holy grail of silver ingots, pictured above, has its lot number, 195 stamped across the oval hallmark, it’s number, 257, below, followed by it’s fineness – 999.75 FINE. It’s weight, 5.02 OZS is on the reverse side.
The colors are spectacular, especially when viewed close up. There is gray, blue and rose toning around the edges of the obverse side. The oval has aquamarine blue, turquoise, green and even some brass and orange coloring, but it’s the numbers in the oval and the number of the ingot and fineness that are the most spectacular.
The number 1 in the oval for instance transitions from red to purple to cobalt blue. The number 9 is almost entirely shades of cobalt blue. The number 5 is purple and blue.
The item number 257 has a kaleidoscope of colors as well. The number 2 ranges from cobalt blue to purple to reddish brown. The number 5 is predominately aqua blue. And the number 7 ranges from green to yellow to a different shade of aqua blue.
The fineness numbers 999.75 also vary in colors. While the first number 9 is a reddish brown, the rest of the numbers and the dot are mostly a gorgeous blue.
The word, FINE. is in a lighter shade of the stunning blue in 999.75. Yet other differences in the best toned U.S. Mint silver ingot ever sold can be found as one looks closer. Some numbers and areas of the ingot sparkle like diamonds, some numbers are speckled with colors while other numbers have grooves of color.
And just when you think you’ve identified all the different colors and shades, you find splashes of turquoise inside and outside of the oval hallmark.
One can only come to one conclusion. Nature has a pallet of colors and combinations of shades that would make any painter jealous.
The reverse and edges are all richly toned as well, and the weight is stamped on the reverse, curiously upside down, but it’s the front or obverse of the ingot that has the greatest eye appeal.
Photo is courtesy of Heritage Auctions
The Value of the Holy Grail of Toned Silver Ingots
In terms of cost, at present, the holy grail of toned silver ingots, and the best toned silver ingot sold to date, was sold by Heritage Auctions at the second highest amount ever bid as of this writing for a San Francisco Mint Silver Ingot, namely, $26,400.00 on May 6, 2022. It’s value though, at least in terms of eye appeal and possibly the appeal to enthusiastic silver ingot collectors, could almost be priceless to the unknown owner who paid a premium price for it. Not surprisingly, it is not for sale on the Heritage Auction website by its unlisted owner.
A somewhat larger silver ingot without any toning weighing in at 49.91 ounces sold for $31,200 on August 3, 2020. It is offered for sale on the Heritage site for $46,800 or more.
The third highest price as of this writing paid for a San Francisco Mint silver ingot was $26,400.00 on January 22, 2021. This ingot is a strip cast sheared silver ingot weighing in at 53.03 ounces. It too is not for sale by it’s unlisted owner.
Heritage Auctions has sold a good many more San Francisco Mint silver ingots over the years from February 2000 to present. Early ingots sold for as little as $373.75 when first sold at auction by Heritage Auctions.
Today, there is growing interest in these United States Mint silver ingots when they come up for auction all too rarely and a growing recognition of how beautiful an ingot can be when it has the eye appeal of the most beautiful silver ingot in the world.
Anyone lucky enough to come across a United States Mint silver ingot produced in the early years with the toning and eye appeal of the most beautiful silver ingot in the world should be prepared to pay whatever is necessary to own it or to put it in a museum. They are a part of the rich history of American gold and silver mining.
California Rare Coin and Ingot Numismatics and Fine Art Lawyer Sebastian Gibson, The Clear Choice for Coin Collectors and Their Heirs
California Rare Coin, Ingot and Numismatics Attorney Sebastian Gibson has been rated “Superb” by Avvo (their highest rating) which rates attorneys across the U.S. He has been called “Brilliant” and “A Legend” and it’s no surprise he has been named a Top Lawyer each year for the past 12 years in a row by the prestigious Palm Springs Life Magazine.
Today, California Rare Coin and Ingot Numismatics and Art Attorney Sebastian Gibson has offices in Palm Desert and Newport Beach and with his background and experience in Great Britain with a law degree in the U.K. as well as in the U.S., California Rare Coin and Ingot Numismatics Attorney Sebastian Gibson also focuses part of his time in London each year due to his expertise in a number of areas of law, including international business, numismatics and entertainment law.
Whether you need advice or assistance with a coin collection you’ve created or wish to create, or for a coin collection of which you’ve come into ownership, and need to retain a knowledgeable numismatics attorney you can trust for your rare coin, ingot or fine art collection matters, the right choice is California Rare Coin and Ingot Numismatics and Fine Art Attorney Sebastian Gibson.
