A nice older certificate
of the P.B. Steifer Mining company.
Issued
1902 and looks transferred in 1904
Mine
is probable still a valuable asset but believe environmentalists are keeping it
from being used.
A
fascinating history of this mine is online for searching and entertaining.
Stories of fraud and other things. Here is a tidbit.
In 1899, Patrick Steifer moved his family
from Alabama to a little mining town in Northern California called Magalia. He
purchased 500 acres from the Campbell Mining Company and named it P.B. Steifer
Mining Company. The 500 acres, located north of Sacramento, in Butte County,
lie on the Magalia Ridge between Big Butte and Little Butte Creeks. It covers
the northern extension of the Magalia Mine, a very rich buried stream bed, now
known as a tributary channel, one of the richest in the state of California.
In the early 1900's when the price of gold
was $20.67 per ounce, operations were begun and nuggets began appearing. As the
Magalia miners worked their way north, they hit coarser and richer gold. Gold
nuggets weighing from 5 to 25 ounces were common finds. During the
early part of the 1900's, the Magalia Gold Mining Company made several offers
to Mr. Steifer of $2,650,000 to $3,180,000 for the Steifer Gold Mine. However,
Mr. Steifer stood firm, rejecting these offers for his property.
During the mine's first 5 years of operation
from 1902 to 1907, a reported $40-$50 million in gold was removed from Steifer
Mine. Around 1910, a nugget with a value of $363 was found weighing in
at 17.56 ounces! Many miners had to be checked for stealing nuggets
from the mine.
The mine continued to operate until 1926.
Plans were made to open the main channel where the richer gold was found, and
then work both channels simultaneously, providing over one mile of pay gravel.
However, through many troubled times only 350 feet of the tributary was worked.
Although the mine has been closed since 1926, it is clear that it is extremely
rich in gold and other minerals and has tremendous value and potential for huge
profits.
If you want to make a reasonable offer for an item or
more than one item, send a message and I will consider your offer. I am a very motivated seller.
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Old Folks Selling Memories
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