The New York assay office was established in 1854 to provide a reliable and accurate way to assay gold and silver. The office quickly became one of the most important in the United States, and it began producing its own series of bars, both gold and silver. The New York assay bars were different from those in San Francisco, with a gold content of 99% or higher.
So far we’ve counted and uniquely identified a total of 68 gold ingots, and 73 silver. It’s quite interesting that the surviving totals are actually not that part apart.
Silver Ingots
8.93 oz 1892 New York Assay Office Silver Ingot
This is the earliest silver ingot we have encountered from the New York Assay Office. The ingot was expertized by noted silver ingot authority Ken Conaway. The unusual top side has a similarly styled eagle punch and round, central date punch seen on a rare presentation matchbox from the same date. The eagle, tentatively designated as a Type One punch, is characterized by narrow wings that are angled slightly upward. On this ingot, only the top half of the eagle punch was impressed into the ingot.
The center of the top side shows most of the Assay Office imprint (impressed sideways), followed by FINE / 999. The weight is seen on the long, right side and is expressed as OZS. (in tiny letters), then 8.93. The ingot number, 10, is seen on the short, lower side. Melt 682 is impressed on the short, top side. The initials A G B are impressed on the back side, and we have no explanation what this refers to. The date in the center of the logo is not completely apparent, but close examination shows the second digit to have a partially closed loop at the top. The third digit could only be a 0 or 9, the latter the only digit possible for such an ingot. Even gray patina covers all the surfaces. This is an exceptionally rare, early ingot from the less-often-seen New York Assay Office.
[08/2014] https://coins.ha.com/itm/ingots/1892-new-york-assay-office-silver-ingot-893-ounces/a/1208-5064.s ($3,819)
Ken Conway speculates that the initials A.G.B. stand for Alexander Graham Bell, which would make a lot of sense for the era as this is when he placed the inaugural long distance phone call to Chicago on October 18, 1892.
11.16 New York “1902” Silver Ingot
The “1902” United States Assay Office New York silver ingot No. 1788, 11.16 ozs & Melt 682 is by far the most unique ingot in the entire United States Government Silver Ingot Collection of Ken Conaway. The Type I hallmark is not dated, but a range can be established with information in the United States Assay Office New York Registry, of 1892 through 1909. Beyond that the reverse provides additional insight into dating this ingot.
The reverse has been milled to a perfectly smooth surface. I am not an antique photo expert but the finished product is reminiscence of tintype photos I saw years ago. The engraving seems to be celebrating the pictured couple’s 25th wedding anniversary by giving a specific date of October 9th, and two different years, 1877 and 1902.
I call this the 1902 Ingot but the date is based on a documented range in time for a United States Assay Office New York Type I hallmark, and the 25th anniversary inscription on the reverse.
Information for the 1902 ingot came from Ken Conaway’s excellent online resource (silveringots.com).
44.07 oz 1908 Office US Assay Office of New York
1960’s flyer by Gerow Paul Franklin featured several ingots including a 44.07 oz with a gorgeous stamp and dated 1908. The flyer was used in his never ending effort to acquire ingots and other numismatic materials.
5.82 oz, 1909 New York Assay Office Silver Ingot
There are several similarities between this rare early silver ingot from 1909 and the 1892 NYAO ingot we (Heritage Auctions) sold in 2014. The eagle within the round hallmark punch is different from the standalone eagle punched into the bottom of the top side. However, the standalone eagle is from the same punch that was used on the 1892 ingot. Both are also stamped 999, with no greater precision of fineness on either, such as 999.5 or 999.75. The hallmark on the 1892 ingot did not have an eagle within the hallmark. By 1909 the eagle was incorporated, as well as the date, resembling the much-later Round Dated Hallmark series. The top side of this ingot has the hallmark centered, but weakly impressed in the middle, the standalone eagle is located at the bottom of that side. The back side is laid out horizontally and has a different round, dated hallmark on the right side with the standalone eagle stamped over it. To the left is FINE 999. Poured from Lot Number 4, the individual serial number is 945, as seen on the top edge. The weight, 5.82, is impressed on the left edge. One of Only Two Known With This Date.
Ex: Americana Sale (Stack’s, 1/2001), lot 1624.
[08/2023] https://coins.ha.com/itm/ingots/1909-ms-new-york-assay-office-silver-ingot-582-ounces/a/1364-4140.s ($48,000)
6.61 oz New York 1920 Silver Ingot
The 1920 United States Assay Office New York silver ingot No. 182, 6.61 ozs & Melt No. 653 is among the most rare and finest examples known to exist. This ingot is a standout with a brilliant gunmetal finish and an eagle vignette that to date, I have not seen on any other United States Assay Office New York ingot, silver or gold.
Other than the rotation of the NYAO hallmark, this represents one of the neatest placements of not only markings on the obverse but of those on the leading edge facing, top edge facing and right side facing. The weight of 6.61 ozs is on the right side facing.
The ingot serial number 182 is on the leading edge facing, the melt number 653 is on the top edge facing and the reverse is blank.
1.25 oz New York City, NY – 1895 – New York Assay Office Presentation Ingot Match Safe
This unusual piece is a match safe which was created in the form of a silver ingot. It says “U.S. Assay Office New York 1892” and is engraved “Col. J. C. C. From E. O. Z. XMAS 1895.” The piece is marked “Ozs 1.25” and the actual weight is 1.5 oz. It appears to be silver heavily plated on brass or an 1892 ingot that was hollowed out to make a match safe. The bottom is machined to provide a striking surface for matches. 35mm x 55mm x 15mm.
[10/2010] https://www.icollector.com/New-York-City-NY-1895-New-York-Assay-Office-Presentation-Ingot-Match-Safe_i9800553 ($2,760)
Gold Ingots
5.46 oz NY Assay Office Gold Bar, Dated 1911, Face Value: $112.68
The earliest bar known to be minted in New York assay 30 is a ‘1911’ dated New York bar with a denomination of ‘$112.68.’ The bar was most likely given out as an investment piece; according to the American Journal of Numismatics, it was sold to a private investor before 1926, and was most likely purchased for face value. It was sold to dealer B. Max Mehl shortly after. B. Max Mehl was an American numismatist and coin dealer who was active during the first half of the 20th century. He is widely regarded as one of the most influential and successful coin dealers in American history.
Mehl was known for his expertise in rare coins and his ability to market them effectively. He also had a talent for promoting the hobby of coin collecting, and was involved in many initiatives to promote numismatics. Mehl founded his own coin dealership, B. Max Mehl, Inc., in 1900. The company quickly became one of the largest and most respected coin dealerships in the US. Mehl was also known for his innovative marketing techniques, including the use of photographs in national magazines and the production of elaborate auction catalogs (“B. Max Mehl”. The Numismatist: 89. March 1906).
The 1911 New York Assay bar he acquired, being described as “an example of great rarity”, first appeared in or around 1926 during the Melh sale as a ‘$112.68’ denomination bar dated 1911. It traded hands multiple times before being sold to John W. Garrett. Garrett kept the bars until he sold his collection in the 1980s, with most of the bars being acquired in the Mehl sale, they sold in 1981. It was sold to a private buyer in 1981, ending up in the Bebee collection, where it stayed dormant in a safe before being submitted to PCGS in the early 2000s. The bar was recently sold to Stephen Gill of Lone Mountain Coin, where it currently resides in a PCGS “Genuine” holder.
See: https://vegascoindealer.com/blogs/news/the-new-york-assay-office-its-ingots
11.11 NY Assay Office Gold Ingot, Dated 1921, Face Value: $229.62
This is the second earliest 10 oz class NY Assay Office ingot in private hands (known) today. The earliest being a 1920 dated bar with a rotated and weaker stamp.
Following is a current census of New York gold assay ingots including their date, weight in troy ounces, fineness, and monetized value (if pre-1933):
- Year Oz Fine Denom
- 1911 5.24 998.3 $112.68
- 1920 11.84 999.4 $244.61
- 1921 11.11 999.8 $229.62
- 1926 20.95 999.8 $432.99
- 1928 27.44 999.8 $567.12
- 1930 11.79 999.7 $243.65
- 1930 20.96 999.7 $433.15
- 1931 20.33 999.8 $420.17
- 1931 10.55 999.8 $218.04
- 1932 24.38 999.3 $503.63
- 1933 9.15 999.8
- 1942 28.14 999.8
- 1943 12.34 999.8
- 1943 9.73 999.8
- 1943 10.49 999.8
- 1943 10.48 999.8
- 1943 12.57 999.5
- 1943 10.82 999.8
- 1943 12.89 999.7
- 1943 11.65 999.8
- 1943 11.36 999.8
- 1943 12.13 999.7
- 1943 10.33 999.7
- 1943 11.24 999.5
- 1943 10.48 999.8
- 1943 11.52 999.8
- 1943 9.8 999.8
- 1943 11.03 999.8
- 1943 11.48 999.7
- 1943 11.61 999.7
- 1943 10.72 999.7
- 1944 25.71 999.8
- 1945 26.94 999.8
- 1945 27.4 999.8
- 1946 25.42 999.6
- 1946 23.15 999.6
- 1946 24.16 999.6
- 1946 25.89 999.6
- 1946 25.6 999.6
- 1946 24.32 999.6
- 1947 27.5 999.6
- 1947 25.27 999.5
- 1947 24.78 999.6
- 1947 26.65 999.7
- 1951 5.65 999.7
- 1951 28.63 999.7
- 1951 28.93 999.7
- 1951 28.7 999.7
- 1956 5.43 999.7
- 1956 5.72 999.7
- 1958 24.11 999.8
- 1959 6.35 999.8
- 1959 6.72 999.8
- 1959 5.13 999.8
- 1967 5.07 999.8
- 1967 5.28 999.8
- 1967 6.02 999.8
- 1968 5.96 999.8
- 1968 5.34 999.8
- 1968 25.04 999.7
- 1968 24.42 999.7
- 1968 25.96 999.8
- 1968 11.25 999.9
- 1969 5.91 999.7
- 1969 5.34 999.8
- 1969 6.18 999.7
- 1969 6.39 999.8
- 1970 5.22 999.7