HOMESTAKE Mining Co. Stock Certificates...
May 2009 - Dacotah Bank and the Black Hills Area Council have joined to raise funds for Medicine Mountain Scout Ranch by offering framed Homestake Mining Co. Stock Certificates for a minimum donation of $25.00 each. Certificates can be purchased at the following Dacotah Bank locations, as well as the Council office:
- Rapid City – 125 Main Street 3535 Fifth Street Branches
- Custer – 35 S. Sixth Street
- Aberdeen – 308 S. Main
- Brookings – 425 22nd Avenue South
- Valley City – 240 3rd Street NW; North Dakota
The History on Homestake
Homestake Mining Company was founded to develop the Homestake Mine discovered in the Black Hills of the Dakota Territory in April of 1876 by Fred and Moses Manuel. Located in Lead, South Dakota it produced 40 million ounces of gold from 1876 to 2002 and was Homestake Mining Company’s largest producer. Operations consisted of an 8,000 foot deep underground mine, an open-pit mine, a mill and gold refinery. The refinery had a noted hallmark stamp that was recognized anywhere in the world and was one of five stamps worldwide with this honor during its production years. The advantage to this was that you could take your HMC stamped bar of gold to any world market, New York, Hong Kong, London, etc., and you would be paid the set daily price for your gold bar without any type of assay or further proof that is was genuine. Another contribution from the Homestake Mine was that is was where cyanide leaching was introduced and put into large scale production. This process was perfected by “Cyanide Charlie” aka Charlie Merrill and is still used around the world today and known as the “Merrill-Crowe” process. In 1879, Homestake’s common stock was first listed on the New York Stock Exchange where it was traded continuously until Barrick Gold from Toronto purchased the company in 2001. It still holds the record for the longest continuously listed company on the NYSE. It was also traded in other stock exchanges around the world.
About the Stock Certificates
Each stock certificate is authentic with trade information stapled or printed on the back. This unique information contains bank or brokerage house names and signatures, personal investor signatures, trade history between other investors and occasionally tax stamps themselves. Many of the brokerage houses are now no longer in business. These beautifully engraved stock certificates were issued from the 1930’s through the 1960’s and came in different colors to denote the different number or shares that the investor purchased. Orange versions were issued for 100 shares and green for purchases of less than 100 shares. These make great wall hangers and are sure to spark conversation about “the good old days”!
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