Couple selling U.S. gold coin find for $10 million

Windsor Genova – Fourth Estate Cooperative Contributor

San Francisco, CA, United States (4E) – A Gold Country, California couple, who dug up 1,427 pieces of 19th century gold coins on their property last year, is selling their find for $10 million.

Rare-coin dealer Don Kagin of Tiburon and senior numismatist David McCarthy are selling the mostly San Francisco-minted coins dubbed Saddle Ridge Hoard on behalf of the anonymous couple on Amazon.com’s Collectibles site and to private collectors.

Kagin and McCarthy, who appraised and restored the coins, said the couple wants to donate some of the proceeds to homeless and hungry people in their area.

The couple, who are in their 40s and are self-employed, discovered the gold coins in February while walking their dog. There was one rusty can sticking out from the ground in the backyard and out of curiosity, they dug it up and brought it home.

When the couple opened the can, nearly perfectly preserved $20 gold coins with liberty head designs on the front and dated from the 1890s were inside. They returned to the spot where they found the can and dug up seven more cannisters.

All the cans contained a total 1,427 coins in $5, $10 and $20 denominations. The coins totaled $27,980, which could fetch up to $10 million in current value.

The 1,373 $20 coins, 50 $10 coins and four $5 coins were dated from 1847 to 1894. A third of it is in pristine condition. The oldest is a $5 coin dated 1849 and minted in Dahlonega, Georgia. The oddest was a $20 coin dated 1866 and minted in San Franciso. It does not have the words “In God We Trust.”

Professional Coin Grading Service of Irvine, one of the world’s foremost coin-assessment firms certified 13 of the coins as the finest-preserved known examples of their kind.

Some of the coins are exhibited at the American Numismatic Association’s National Money Show, which opens in Atlanta on Thursday.

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