Silver Ingot Mint of the United States at San Francisco 1942 (82 YEARS OLD!)
Ingot #989, 5 Oz Class, Type 1, Curved 9's, 999.75 Fine 6.04 ounces ,12-22-1942
- Listing Type:
- This item up for Auction - Bid on this item.
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- Current Bid:
- $ 12500.00 Reserve Not Met
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Enter US $12,500.00 or more$ - Auction Ends:
- (December 2 2024 07:49 PM CST)
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- Free Shipping Local Pickup - (more details)
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- Returns are not Accepted - (more details)
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Item Description
The Mint of the United States at San Francisco accepted deposit of silver scrap to be assayed, refined, and cast into fine silver fine bars in exchange until the program was discontinued. The early Type 1, 5 oz class silver bars were not dated, making their production date difficult to pinpoint, unless one can locate a US Mint document identifying the date. Cast, numbered, undated, 5 oz class ingots appear to have been produced by the San Francisco Mint starting around 1930. Here we are fortunate in that on December 22, 1942 U.S. Mint Services Bullion Deposit Memo Receipt No. S.D. 34 reflects that a Mr. Vogel of San Francisco made a scrap silverware deposit of 258.40 ounces of .836 fine silverware scrap which was refined into dozens of 5 ounce class 999.75 fine silver ingots which were numbered 982 through 1018, of various weights in exchange. This bar number 989 weighing 6.04 Ozs.. appears 8th in the list. The receipt may be viewed at https://silveringots.com/san-francisco/5-oz-class-type-i-small-font-w-curved-stem-nines-75
Examination of bar 989 suggests it was the produced from several separate pours by the layering evident from the edges as a result of cooling periods between pours, rather than the product of a single pour. There also appear to be faintly struck figures in the left edge and elsewhere, and bubble holes from escaping gas in the right edge as well as the muffin-top like reverse resulting from over-pouring 6.04 ounces into a 5 ounce mold . The Oval hallmark, bar number and fineness marks are well centered on the face, along with the combination of weight fonts on the reverse make it attractive. The bar's characteristics combined with provenance make for a desirable collectible specimen. This bar has a Type 1 hallmark, small font bar number and fineness numbers on the face, curved tail 9's and is marked 999.75 FINE and on the reverse show small font 6.04 with larger font .OZs.
Unlike the prohibition against private citizens defacing coinage Mint issued ingots were unrestricted. In December 1942 silver was 38 cents per ounce and by January 1980 the value had increased by nearly 95x to $ 35.75 per ounce. Undoubtedly few of these 5 oz class US Mint at San Francisco silver ingots have survived the silver melts.
On May 6, 2022 a 5 oz class San Francisco Mint silver ingot sold at Heritage Auctions, Lot #4648, for $24,600.00. Although past sales results are not a guarantee or indicator of future value, a review of auction results over the past several years suggests the 5 oz class, cast, numbered bars have appreciated exponentially,substantially in excess of their value as mere bullion.
The Director of the Mint's Annual Report for fiscal year ending June 30, 1943 (inclusive of production of this bar) may be viewed at : https://archive.org/details/annualreportofte1943unit
Feel free to contact seller with any questions.
Payment and Shipping Details
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- United States Shipping services available:
| Shipping / Handling Cost | Service |
|---|---|
| $0.00 - Free Shipping | Local Pickup |
| $0.00 - Free Shipping | Other (see item description for more details) |
- Payment on Pickup
Return Policy:
Returns are not Accepted
Other Instructions:
INSPECTION: Bidders are invited to inspect the item in Kansas City before placing bids.
PAYMENT: Seller will arrange to meet Buyer or Buyer's agent at Seller's bank in Kansas City, Missouri for inspection, and to receive payment in exchange for the item and acknowledgement of receipt of item by Buyer. This is preferred for our mutual protection, to ensure good payment is received and that Buyer receives the item and issues a receipt confirming delivery. If Buyer wishes other arrangements please contact Seller with your request before bidding.
Payment in full is required before the item will be released or shipped. Buyer agrees that if payment is other than by CASH the item will not be shipped until the payment has fully and finally cleared.
To ensure Buyer's shipping instructions, insurance instructions, and choice of shipping company are clear Buyer will provide a fully prepared prepaid shipping form calling for restricted delivery and requiring signature. Seller will video packaging and tender to the shipping company. Buyer agrees to assume all risk of loss from the point of Seller's tender to shipping company as well as any errors or omissions made by Buyer in the shipping form.
Ownership will not transfer until full and final payment has been received.
If you wish additional information or photographs feel free to contact Seller. Buyer must pay within five (5) days of conclusion of auction or be in breach.
Seller warrants the item pictured is that offered for sale and which will be tendered or shipped to the Buyer whose high bid is accepted, after full and final payment has been received. Seller makes no other warranties.
The photographs show each of the 6 surfaces of the silver ingot offered, which is unique. Seller's references to information published by third parties such as but not limited to the HA.Com sale of May 6, 2022 and the US Mint Services Deposit Memo and Delivery Receipt are made in good faith but Seller cannot and does not warrant or represent the accuracy or veracity of information derived from third parties. Buyer's decision to bid any amount for the item is based solely upon Buyer's own independent evaluation and judgment rather than in reliance upon anything said by Seller
This contract is formed in Missouri and shall be governed exclusively by Missouri law, Buyer agrees to personal jurisdiction in the Jackson County, Missouri Circuit Court as the exclusive venue for any legal proceeding. If Buyer fails to pay for the item within five (5) calendar days from the end of the auction Seller may dispose of the item otherwise without liability to Buyer. In the event the item becomes, lost, damaged, stolen or destroyed the sale will be cancelled; in such event Buyer will not pay for item and will have no claim for damages or cost to cover. Buyer's sole remedy will be return of the sum paid, if any.
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