SS Central America Restrikes - A correction

SS Central America Restrikes - A correction

Post by Bruce Hickmo » Sun, 26 Jan 2003 06:40:27


I posted this a few days back regarding the $50 restrikes:

>The reason behind it was that serveral of the larger gold bars simply
>wouldn't sell for what they wanted. So they melted those bars down and made the
>restrikes. Which resulted in a nice profit. They shaved the face of these bars
>off before melting and sold those, so at least the identifying marks from the
>minter are mostly intact. I'd rather have one of the small bars than one of the
>faces. And I'd rather have one of the faces than one of the restikes.

Well, Donn Pearlman send me a polite note correcting my misconception. Sorry it
took so long to post a correction, but Usenet ettiquitte required me to get
Donn's permission before posting the contents of the private email. I got it, so
here's what he had to say:

>Dear Bruce,
>I appreciate your posts in r.c.c., but want to politely clarify an apparently
>common misconception.  While the popular theory is that the S.S. Central
>America/Kellogg $50 "restrikes" were made only because some gold bars "didn't
>sell," I can tell you that is not true.
>From the very beginning of the marketing plans (back in 1999, well before the
>first S.S. Central America treasure items entered the marketplace in Feburay
>2000 or even the announcement of its availability in late January 2000), there
>was planning for "restrikes."  
>However, the involvement of the California Historical Society, and the decision
>to strike the coins at the historic Presidio in San Francisco, came about in
>the winter and late spring of 2001. That is when the public announcement was
>made about the restrikes  The gold pieces were struck in August and September
>of 2001.
>Donn Pearlman

Thanks Donn. I'd still rather have one of the faces than one of the restrikes.
How was the decision made as to which bars got shaved?