The sinking of the SS Central America created a massive and accidental accumulation of treasure – at the bottom of the ocean. Bound for New York with tons of gold ingots, coins, nuggets, and dust mined from the California gold fields, its loss created a unique time capsule of information and artifacts of an era in which the very character and spirit of America blossomed.
While many historical objects, accessories, ship components and other items recovered from the SS Central America are being preserved for study by institutions and others, there were enough gold ingots and coins that this became a historic national treasure that could be shared.
Life magazine called it the “greatest treasure in American history.” Books, television programs and features have showcased the gold coins and ingots discovered 7,200 feet deep in the Atlantic off of the southern part of Virginia, from the S.S. Central America, a sidewheel steamer lost in a hurricane on the evening of Saturday, September 12, 1857. Several hundred lives were lost as was a treasure of Gold Rush coins and ingots unprecedented in its size and value. At the time gold was valued at $20.67 per ounce. Today, the bullion value of the lost coins would be over $100,000,000.
The coins and ingots were recovered in the late 20th century, and made available to buyers by the California Gold Marketing Group in 2000. As part of the presentation Q. David Bowers researched and wrote A California Gold Rush History Featuring the Treasure from the S.S. Central America.
Several assayers were well known during the California gold rush days, and 5 of them represent the ingots recovered on the SSCA. Until the recovery of the S.S. Central America buried treasure, very few assayer bars remain from the mid 1800’s.
Following is a visual cue of the hallmarks / stamps used for each one of the 5 Assayers, who’s ingots were found at the bottom of the ocean:
For more information on each of the Assayers, you may visit the links below:
Kellogg & Humbert
https://rareingot.com/kellogg-humbert/
Justh & Hunter
https://rareingot.com/justh-hunter-assayers/
Blake & Co
https://rareingot.com/blake-co-ssca/
Harris, Marchand, & Co
https://rareingot.com/harris-marchand-co/
Henry Hentsch
https://rareingot.com/henry-hentsch/
Gold in California!
The Gold Rush started in January 1848 when John Marshall discovered a gleaming flake in the tail race of a sawmill at Sutter’s Fort near Sacramento. Soon, other flakes and nuggets were found, tests were made at Sutter’s Fort, and gold was positively identified. The news could not be contained, it soon reached San Francisco, and by late spring the Gold Rush was on!
In the days before telegraph and other modern connections, the news did not reach the East until late summer, and even then it was viewed as a hoax or fantasy by many. Finally, in December 1848 an emissary sent from California reached Washington, D.C. with a small container of gold. This was shown to President James Knox Polk and others, and then sent to the Mint. The excitement knew no limits!
In 1849 tens of thousands of people headed west to tap this golden bonanza. Some went overland and others went by sea crossing by land in Panama. Still others took the long way by sailing around Cape Horn at the tip of South America. By late spring and early summer 1849 the banks of the American River in and around Sutter’s Mill were crowded with prospectors, as were many tributaries. Tales of fortune abounded and still more people came. San Francisco, earlier called Yerba Buena, changed from a sleepy village to a dynamic town.
As the years passed, assayers, bankers, and other commercial interests were established in San Francisco, Sacramento and other towns, with gold remaining a focal point of interest. Miners, banks and others would receive gold then take it to an assayer who would melt it, cast it into bars or ingots, and then test it for its purity. At regular intervals ingots and coins made from California gold, including at the San Francisco Mint (which opened for business in late March 1854), were packed in wooden cases and shipped to the East.
The Treasure Ship S.S. Central America
One day in late August 1857, well over $1.6 million (at the $20.67 per ounce value at the time) in golden ingots and coins was packed aboard the steamer S.S. Sonora, which headed south along the Pacific coast, docking at Panama City. At that point the passengers and treasure were put aboard the 48-mile long Panama Railroad, and carried to the port of Aspinwall on the Atlantic side. Soon, the S.S. Central America arrived in port, and the passengers and gold went aboard, to head north to New York City.
All was serene — with sunny skies and pleasant temperatures. A stop was made in Havana, but a cholera epidemic was raging, and only a few went ashore. Out of Havana the ship steamed forward, but not long afterward, storm clouds arose, and the wind increased. No doubt this was a squall and would soon pass. However, the wind intensified, the waves rose, and by Thursday, September 10, the seas were very high and the S.S. Central America was almost helpless. Water was taken aboard, flooding the hold and extinguishing the fires for the steam boiler, placing the vessel at the mercy of the elements.
On Saturday morning, September 12th, two sailing ships, the bark Ellen and the brig Marine, were nearby, and with heroic effort the women and children were rowed to safety. In the early evening, Captain William Herndon fired rockets of distress and flew the Stars and Stripes upside down, a sign of impending disaster. At about 8 o’clock n the evening, with Herndon standing on the cover of one of the side wheels, the ship slipped below the waves, taking with it hundreds of passengers. Many perished, but some clung to bits of driftwood and debris, to be rescued later by passing ships. The S.S. Central America and its gold went to a watery grave 7,200 feet below the surface.
The news was sensational at the time, an unprecedented marine disaster of an American mail steamer.
The S.S. Central America Treasure Recovery
In the 1980s the Columbus-America Discovery Group, led by Tommy Thompson and Bob Evans, located the wreck of the S.S. Central America in 7,200 feet of water far off the coast of North Carolina — the result of years of research, study and exploration. After resolution of legal issues, the treasure was made available in 1999, with the finders being awarded 92% of the treasure.
On behalf of investors, Dwight Manley formed the California Gold Marketing Group (CGMG) to sell the fabulous treasure, which comprised over 7,000 sparkling freshly minted gold coins and over 500 gold ingots from Gold Rush assayers, somewhat over 8,000 items in all. Q. David Bowers cataloged a representative group of coins and ingots for a December 1999 sale at Christie’s, the art auction house. General marketing began in 2000. In time all the ingots were sold, as were all the coins, including the 1857-S double eagles.
In 2000 a special “Ship of Gold” exhibit was the prime attraction at the ANA Convention as viewers saw the treasures first-hand. As noted, Coin World called the S.S. Central America gold “the story of the year.” In all of numismatic history nothing like it had ever happened before.
In 2004 many S.S. Central America highlights and a rich assortment of other coins and artifacts, went on a grand tour titled GOLD!