Gold Content Documentation - Not what you think :)

[jgrinz]

I saw this and wondered how the hell one verifies the statement that the gold came from a certain reserve ... How is this documented to be acurate

 

1908 Saint-Gaudens Double Eagle No Motto

Wells Fargo Nevada Gold PCGS MS-67

 

http://www.greatcollections.com/Coin/15104/1908-Saint-Gaudens-Double-Eagle-No-Motto-Wells-Fargo-Nevada-Gold-PCGS-MS-67

 

[physics-fan3.14]

Its actually very easy, especially with the new spectral analysis and alloy verification equipment TPGs are using. Not sure why anyone would want to for a coin like this, but hey...

 

Basically, what they do is look for the trace elements in the alloy. Each mine has different elements in different concentrations, so by comparing the trace elements to those known to come from certain areas, you can narrow down where the metal actually came from. I'm guessing, if they had an appropriate reference, they could tell you exactly which county and probably which hole in the ground the metal came from.

[jtryka]

I'm not sure what you guys are talking about. If you're referring to the "Wells Fargo Nevada Gold" it has nothing at all to do with the source of the gold but rather the source of the double eagles! These were all part of a hoard of 15,000 or so 1908 NM Saints that were stored in a vault of a Wells Fargo branch in Nevada. The owners did not want their name associated with the hoard and signed a strict confidentiality agreement with the buyer, so they named it after where the hoard was stored.

[jgrinz]

ahhh I actually like both answers ..

 

In this instance "jtryka" is right after doing some research HOWEVER I have seen coins which claim to be from certain "diggings" on holders ... which I am sure physics-fan is probably right also ... interesting info anyway

 

Thanks for the answers guys ..

 

[PerryHall]

This hoard with this perdigree had a reputation of being given generous grades by PCGS. I've read this in several places but I never saw enough of these coins to reach my own conclusions.

[No+4Me]

The label has nothing to do with the origin of the gold itself. In the 1990's, Ron Gillio purchased 19,000 1908 DE's stored in a European Vault. They had been there since 1917, when they were part of a payment related to WWI. They were re-bagged in the 1960's when the original bags were found to be rotting. After the sale, they were transferred to a Wells Fargo Vault in Nevada, which gave the name to the horde. Gillio says that the coins received the highest grades of any large gold horde, with the following grades and numbers: MS68-200; MS67- 1700+; MS-66- 6000+; the balance from 65 down. (there appears to be a typo in the article, at the head of the list is MS68-10 which I think is supposed to be MS69-10, but that is my assumption).

 

Bowers, Red Book Guide to Dougle EAgle Gold Coins, p. 237

[physics-fan3.14]

I've seen numerous Wells Fargo hoard graded coins, and they have always been overgraded by at least a point or two. I had never seen one that said it was from Nevada.

[No+4Me]

I have only seen a few, and I recall that they said "Well Fargo" but no mention of Nevada. Interesting

[michael]

I'm not sure what you guys are talking about. If you're referring to the "Wells Fargo Nevada Gold" it has nothing at all to do with the source of the gold but rather the source of the double eagles! These were all part of a hoard of 15,000 or so 1908 NM Saints that were stored in a vault of a Wells Fargo branch in Nevada. The owners did not want their name associated with the hoard and signed a strict confidentiality agreement with the buyer, so they named it after where the hoard was stored.

 

100% correct

 

also the name and mystique on the slab helped with marketing/selling as ron gillo was the original buyer of these raw coins

 

 

[michael]

you can also tell from a few feet away without seeing the tag as all the "wells fargo" no motto p mint saints 1908 had a particular "look" to them

[michael]

even if it is re-slabbed/re-graded/whatever without the pedigree and not dipped