Charles M. Schwab Gold Going To Auction

Three solid gold medallions originally presented to Charles M. Schwab will be sold at Fairfield Auction in Newtown this Sunday, December 12. The sale will begin at 11 am.

The three gold medallions and another presented to Charles Gates Dawes weigh, in total, over three pounds in solid gold. They are now coming to auction to settle the estate of his daughter.

At age 39, Charles Michael Schwab was president of the biggest company in the world, United States Steel. He went on to take over and remake another steel company, Bethlehem Steel, which helped provide the steel skeleton of the New York skyline in the early 20th Century.

The largest, “The Gary Medal,” issued by The American Iron and Steel Institute in 1930, weighs in at 735 grams and has a scrap value of nearly $12,000.

According to family legend the fourth medallion, issued by “The Pennsylvania Society” and inscribed to Charles Gates Dawes, was won in a poker game. Dawes was Vice President of The United States from 1925 until 1929.

The medallions will be sold along with property from several other estates including a prominent Upper East Side, Manhattan estate. Other items of interest include a pair of paintings by 18th Century Italian master Francesco Guardi as well as a centaur weathervane.

Fairfield Auction gained national attention for selling another centaur in September for over a $250,000. This one is modestly estimated at $8/12,000. Additionally, antique furniture, silver, clocks, lamps and a good selection of estate jewelry will be sold.

Previews opened last weekend, and will continue Friday and Saturday, December 10 and 11, from 1 to 6 pm each day. The auction house is at 53 Church Hill Road in Newtown.

Fairfield Auction can be reached at 364-1555 or online at www.FairfieldAuction.com, where images and other details are available.