PR: Ship of Gold at Long Beach
Nospamdonn
(Long Beach, CA) The worlds first public exhibit of previously unseen
California Gold Rush treasures from the famous S.S. Central America shipwreck
will be displayed at the Long Beach Coin & Collectibles Expo, Thursday -
Sunday, February 10 - 13, 2000. The $10 million exhibit of recovered coins and
ingots will be housed in a specially-built, 30-foot long replica of the ship's
hull.
The Expo will also host the first display outside Las Vegas of the 100
Series 1934 Federal Reserve Note $10,000 bank notes that previously were a
tourist attraction at Binions Hotel & Casino. The notes were purchased by
Kansas City dealer Jay Parrino who estimates their collector value at more than
$10 million.
The Central America display will include the worlds largest gold bar, a
brick weighing nearly 80 pounds (933 ounces), produced in 1857 by historic
assayers Kellogg & Humbert of San Francisco. It was among the tons of gold
cargo on board when the Central America sank in a hurricane in September 1857
on a journey from Panama to New York City.
"I grew up in California and have studied the history and money of the San
Francisco Mint and the Old West all my life. Ive never seen anything in
numismatics as amazing and mind-boggling as the coins and ingots recovered from
the Central America," said Ronald J. Gillio, Expo General Chairman. "As
dazzling as photographs of these coins may appear, they are even more
spectacular and beautiful in person. It is absolutely thrilling for a
collector to see them firsthand."
The exhibit is being mounted by the California Gold Group of Newport
Beach, the organization that purchased intact the fabled treasure. Expo
visitors will peer through "portholes" in the replica of the ship to see
samples of the 1850s gold coins and assayers bars from the $100+ million cargo.
"This is big, really big," said Gillio. "Its the ship of gold."
The exhibit will be located near the main entrance to the Expo bourse in
the Long Beach, California Convention Center, 100 S. Pine Ave. Show hours are
Thursday to Saturday from 10 a.m. to 7 p.m., and Sunday from 10 a.m. to 2 p.m.
Bob Evans, director of science and history of the Columbus-America
Discovery Group, the organization that located and recovered the treasure, will
present two lectures about "Secrets of the S.S. Central America," at 4:00 p.m.
Friday, February 11, and at 1:00 p.m. Saturday, February 12.
More than two dozen collectors club meetings and educational seminars will
be held during the Long Beach Coin & Collectibles Expo. Online hobby
activities for collectors and dealers will be discussed by representatives of
eBay and Tias.com. Collectors Universe Professional Coin Grading Service
(PCGS) and Numismatic Guaranty Corporation (NGC) also will conduct educational
forums.
Rare coin and paper money auctions will be conducted by Heritage
Numismatic Auctions of Dallas, Texas and Ponterio & Associates of San Diego,
California.
The show is hosted by the Long Beach Coin Club and Long Beach Stamp Club.
Corporate sponsor participants include PCGS; NGC; eBay; Heritage Numismatic
Auctions; and UBS Numismatics/Art Banking; the Austrian Mint; and the World
Money Fair of Basel.
Admission is $4 (for a four- day pass), but free to anyone with a valid
membership card from any coin or stamp club.
For additional information, contact the Expo office at the Long Beach
Convention Center, (562) 436-3636. Or visit the Expos web site at
www.longbeachshow.com.
###
The Gang of Four
100
> Series 1934 Federal Reserve Note $10,000 bank notes that previously were a
> tourist attraction at Binions Hotel & Casino. The notes were purchased by
> Kansas City dealer Jay Parrino who estimates their collector value at more
than
> $10 million.
>
I am very upset that Binion's sold it. I have three generations of my
family pictured in front of it, and I was going to have my children pictured
in front of it next year. A lot of people are going to miss it.
Greg
John Krawczyk
and almost 10K for a 64. I guess this is in league with typical
prices for a type-I US $20 Lib. The 1854-s hoard was a lot smaller
I guess.
On 09 Feb 2000 01:48:14 GMT, nospa...@aol.com (Nospamdonn) wrote:
> "Ship of Gold" docks at Long Beach Expo
>
> (Long Beach, CA) The worlds first public exhibit of previously unseen
>California Gold Rush treasures from the famous S.S. Central America shipwreck
>will be displayed at the Long Beach Coin & Collectibles Expo, Thursday -
>Sunday, February 10 - 13, 2000. The $10 million exhibit of recovered coins and
>ingots will be housed in a specially-built, 30-foot long replica of the ship's
>hull.
>
> The Expo will also host the first display outside Las Vegas of the 100
>Series 1934 Federal Reserve Note $10,000 bank notes that previously were a
>tourist attraction at Binions Hotel & Casino. The notes were purchased by
>Kansas City dealer Jay Parrino who estimates their collector value at more than
>$10 million.
>
CCT1A
>The price for these things is quite high! Basically $6,600 for a 63
>and almost 10K for a 64. I guess this is in league with typical
>prices for a type-I US $20 Lib. The 1854-s hoard was a lot smaller
>I guess.
It's not uncommon for the "market makers"
to try to force the market to assimilate new
coin hoards at the price level they enjoyed
before the hoard was discovered. Only AFTER
the pop figures have been adjusted, and
the investors have been rewarded, does the
collector community find out that they paid
premium prices for coins that are now common.
JSTONE9352
>I am very upset that Binion's sold it. I have three generations of my
>family pictured in front of it, and I was going to have my children pictured
>in front of it next year. A lot of people are going to miss it.
>
Anyone know what the purchase price was? Its too bad they sold it as it was
a major tourist attraction. I wonder if
Binion's is in financial trouble?
CCT1A
>was
>a major tourist attraction. I wonder if
>Binion's is in financial trouble?
I read in the paper last year that the scion of
the family was shot to death.
Parrino is reported to have said the collector
value of the bills is $10 million. I take that
to mean he paid less tha $5 million for them--
probably $2 million.
John Stone
CCT1A wrote:
I wonder if he means $10 million if sold together as a group or if sold
seperately it would add up to $10 million?
I do remember the murder mentioned, it has still not been solved and might
involve a former partner, mistress etc. There was also something about
gold and silver buried in the desert as part of the murder plot.
Gnkrajes
>I wonder if he means $10 million if sold together as a group or if sold
>seperately it would add up to $10 million?
>
He probably meant that if he spent them individually, he could buy
$10,000,000 worth of stuff with them.
Gregory Krajeski
Gregory Krajeski
Gnkrajes
> He probably meant that if he spent them individually, he could buy
>$10,000,000 worth of stuff with them.
Ooops. My mistake.
I can't believe those bills would be worth $100,000 each. He must mean as a
set because of the fact that they are famous.
Gregory Krajeski
JSTONE9352
> I can't believe those bills would be worth $100,000 each. He must mean as
>a
>set because of the fact that they are famous.
>
>Gregory Krajeski
>
>
condition seem to be bringing around
$30,000 to $45,000 each. Maybe Bill
Gates will buy them as a set to display
at Microsoft headquarters.
>
>
>
PFDJR
>Must be. $10,000 notes depending on
>condition seem to be bringing around
>$30,000 to $45,000 each. Maybe Bill
>Gates will buy them as a set to display
>at Microsoft headquarters.
The Post Office ripped off a portion of the front page of my February 8th
Numismatic News. One of their employees used a blank address label to "paste"
it together. Of course, the piece that was torn happened to be the article on
the purchase of the $1 million in $10,000 notes.
I had to carefully remove the label in order to read the article.....the piece
is now missing (should have taped it back on).
However, if my memory serves me, I believe Parrino estimated that most of the
notes were valued at between $75,000 and $125.000.....the upper figure may have
been $150,000.
The article also stated that these 100 notes represent about 1/3 of the
existing population.
+++++++++++++++++++
Phil DeMayo eBay: flip48
Coinmasters 1188 ANA R-182606
When bidding online always sit on your helmet
JSTONE9352
>However, if my memory serves me, I believe Parrino estimated that most of the
>notes were valued at between $75,000 and $125.000.....the upper figure may
>have
>been $150,000.
>
>The article also stated that these 100 notes represent about 1/3 of the
>existing population.
>
>
>+++++++++++++++++++
>Phil DeMayo eBay: flip48
>Coinmasters 1188 ANA R-182606
>When bidding online always sit on your helmet
>
>
Parino says, he tends to overhype a lot of what he has to sell.
Its possible they could sell individually
for that amount but I'm not sure. There
might be some extra value for the
"pedigree".
>
>
>
>
johnnyo
"Fred A. Murphy" <bigg...@NOSPAMcomputech-online.net> wrote:
>
>>A typical $5000 1934 sold on ebay last year for something like
$35,000. $10,000 notes catalog for about twice that, so that
makes the "market" maybe $70-75,000 each. His ten million figure
is $100,000 each, which doesn't sound TOO far out of the
ballpark, puffery included.<<
At the Long Beach coin show this weekend, I spoke to one of the
Parrino reps at their table, where they had the $1 million laid
out for display in several cases. I asked her if they were going
to sell the notes individually, and she said if they have to,
they will, but they have an offer pending for the entire lot.
She said if they sell the collection that way, they probably
would get more than if they sold the bills in individual
purchases.
john
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Fred A. Murphy
On 12-Feb-2000, gnkr...@aol.com.junk (Gnkrajes) wrote:
> I can't believe those bills would be worth $100,000 each. He must mean as
> a
> set because of the fact that they are famous.
A typical $5000 1934 sold on ebay last year for something like $35,000.
PFDJR
>>> A typical $5000 1934 sold on ebay last year for something like $35,000.
$10,000 notes catalog for about twice that, so that makes the "market" maybe
$70-75,000 each. His ten million figure is $100,000 each, which doesn't sound
TOO far out of the ballpark, puffery included. <<<
Relying on memory here as the postal service destroyed the front page of my NN
and I subsequently lost the part that ripped off.
I believe Parrino stated that the majority of notes grade gem crisp and also
mentioned that there were groups of consecutively serial numbered notes
included in the lot. Collectors will often pay a premium for groups such as
these.