Ten Million Dollars worth of gold coins were found in a California backyard. While walking their dog, a couple identified as John and Mary found an old rusty can sticking out of the ground. When they opened the can they were stunned to discover it was filled with gold coins.
The couple got some shovels and returned to the site, eventually unearthing eight cans. The rusty cans were filled with more than 1400 coins. As the couple wishes to remain anonymous, they contacted Kagins Inc. The company specializes in the identification, acquisition, and sale of valuable coins and paper money.
The coins are being referred to as the Saddle Ridge Treasure. Representatives with Kagins believe the treasure includes the most valuable gold coins ever found in North America.
Company president Donald D. Kagin Ph.D., explains the significance of the discovery:
“… unlike other hoards and treasures, this one includes a great variety of dates, many of which are in pristine condition… this family literally found the pot of gold at the end of the rainbow.”
Numismatist David McCarthy inspected and identified the coins, which were likely buried during the late 1800s. The coins were all minted between 1847 and 1894. The Saddle Ridge Treasure Includes four $5 coins, 50 $10 coins, and nearly 1400 $20 coins. Although their face value is less than $30,000, their estimated market value exceeds $10 million.
As discussed by Kagins.com, the most significant coins will be displayed during the American Numismatic Association National Money Show. The show will take place from February 27 through March 1, in Atlanta, Georgia.
PCGS President Don Willis said the couple’s “discovery is one of the most amazing numismatic stories” he has ever heard:
“This is one of those fantastic discoveries! This will be regarded as one of the best stories in the history of our hobby!”
Ninety percent of the gold coins found in the California backyard will be available through Amazon’s collectibles store. Although the date was not announced, Amazon is currently organizing the special auction.
Prior to the Saddle Ridge Hoard, the most valuable gold treasure was discovered in Jackson, Tennessee. The gold coins, which were found by a construction crew, had a face value of $4,500. They eventually sold at auction for nearly $1 million.
As reported by Los Angeles Times, John and Mary said the experience was surreal. John said he “thought any second an old miner with a mule was going to appear.” Mary said “it was like finding a hot potato.”
The couple certainly never thought gold would be found in their backyard. However, their discovery was incredibly significant. The coins hold special interest for numismatics and will provide John and Mary with financial gain beyond their wildest dreams.
[image via Facebook]