Eureka!

Accredited investors can now own a share of the legendary Eureka Bar, a 64-pound gold ingot recovered from the 1857 shipwreck of the SS Central America. Containing 933.34 troy ounces of gold, the sunken treasure bar is widely regarded as “one of the most historically significant gold bars ever produced,” says Dr. Donald Kagin, president of Kagin’s Digital. A subsidiary of Kagin’s Inc., Kagin’s Digital is offering shares in the Eureka Bar through a digital fractional ownership structure. 

The announcement about the Eureka Bar comes amid renewed public attention surrounding the SS Central America treasure following treasure hunter Tommy Thompson’s recent release from prison. His expedition team of scientists and engineers originally recovered the shipwreck in the late 1980s. He was convicted for refusing court orders to reveal the location of 500 missing gold coins.

An Ownership Offering

The Eureka Bar was produced in 1857 at the height of the California Gold Rush by San Francisco assayer Augustus Humbert and private coiner John Glover Kellogg. It was privately acquired in 2002 for $8 million as part of a larger transaction involving several ingots and gold coins recovered from the wreck site, setting a record for a numismatic rarity. Today, the Eureka Bar is insured for $10 million. 

The historic gold bar has now been structured as a $6.5 million digital fractional offering, with 1,500 shares available to members of the Kagin’s Digital community. Each share is securely recorded using blockchain-based technology, creating a transparent and tamper-proof record of ownership. “While it remains one of the most valuable numismatic items in existence, this structure allows individuals to participate in ownership of an incredibly important California Gold Rush artifact and iconic treasure for an average share price of $4,333,” Dr. Kagin says. 

Adam Crum, managing partner of National Treasures and one of the foremost authorities on the SS Central America treasure, added: “Over the course of my career, I have handled and sold more than $100 million in SS Central America treasure, including the majority of all the ingots recovered. The Eureka Bar stands alone as the largest California Gold Rush artifact and, in my view, the most important surviving gold bar in the world.”

For more information, visit Kagin’s Digital’s website.