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California couple finds $10 million in rare coins while out walking dog

BC1969

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The stuff dreams are made of WOW!!! :BangHead:
California couple finds $10 million in rare coins while out walking dog | Fox News
Northern California couple out walking their dog on their Gold Country property stumbled across a modern-day bonanza: $10 million in rare, mint-condition gold coins buried in the shadow of an old tree.

Nearly all of the 1,427 coins, dating from 1847 to 1894, are in uncirculated, mint condition, said David Hall, co-founder of Professional Coin Grading Service of Santa Ana, which recently authenticated them. Although the face value of the gold pieces only adds up to about $27,000, some of them are so rare that coin experts say they could fetch nearly $1 million apiece.

"I don't like to say once-in-a-lifetime for anything, but you don't get an opportunity to handle this kind of material, a treasure like this, ever," said veteran numismatist Don Kagin, who is representing the finders. "It's like they found the pot of gold at the end of the rainbow."

Kagin, whose family has been in the rare-coin business for 81 years, would say little about the couple other than that they are husband and wife, are middle-aged and have lived for several years on the rural property where the coins were found. They have no idea who put them there, he said.

The pair are choosing to remain anonymous, Kagin said, in part to avoid a renewed gold rush to their property by modern-day prospectors armed with metal detectors.

They also don't want to be treated any differently, said David McCarthy, chief numismatist for Kagin Inc. of Tiburon.

"Their concern was this would change the way everyone else would look at them, and they're pretty happy with the lifestyle they have today," he said.

They plan to put most of the coins up for sale through Amazon while holding onto a few keepsakes. They'll use the money to pay off bills and quietly donate to local charities, Kagin said.

Before they sell them, they are loaning some to the American Numismatic Association for its National Money Show, which opens Thursday in Atlanta.

What makes their find particularly valuable, McCarthy said, is that almost all of the coins are in near-perfect condition. That means that whoever put them into the ground likely socked them away as soon as they were put into circulation.

Because paper money was illegal in California until the 1870s, he added, it's extremely rare to find any coins from before that of such high quality.

"It wasn't really until the 1880s that you start seeing coins struck in California that were kept in real high grades of preservation," he said.

The coins, in $5, $10 and $20 denominations, were stored more or less in chronological order, McCarthy said, with the 1840s and 1850s pieces going into one canister until it was filed, then new coins going into the next one and the next one after that. The dates and the method indicated that whoever put them there was using the ground as their personal bank and that they weren't swooped up all at once in a robbery.

Although most of the coins were minted in San Francisco, one $5 gold piece came from as far away as Georgia.

Kagin and McCarthy would say little about the couple's property or its ownership history, other than it's in a sprawling hilly area of Gold Country and the coins were found along a path the couple had walked for years. On the day they found them last spring, the woman had bent over to examine an old rusty can that erosion had caused to pop slightly out of the ground.

"Don't be above bending over to check on a rusty can," he said she told him.

They are located on a section of the property the couple nicknamed Saddle Ridge, and Kagin is calling the find the Saddle Ridge Hoard. He believes it could be the largest such discovery in U.S. history.

One of the largest previous finds of gold coins was $1 million worth uncovered by construction workers in Jackson, Tenn., in 1985. More than 400,000 silver dollars were found in the home of a Reno, Nev., man who died in 1974 and were later sold intact for $7.3 million.

Gold coins and ingots said to be worth as much as $130 million were recovered in the 1980s from the wreck of the SS Central America. But historians knew roughly where that gold was because the ship went down off the coast of North Carolina during a hurricane in 1857.
 
Hey BC1969!! WOW!! Great Reason to "Kick the Can DOWN the ROAD"!! Thanks for sharing!! GOOD LUCK and GOOD HUNTING!! VERDE!!
 
They are more like this out there, maybe a needle in a haystack but they are out there awaiting discovery :) keep swinging :)
 
I had just read this and was going to post a link. What an amazing eye ball find.
 
Some people have all the luck...
backyard-gold-bonanza.jpg
backyard-gold-bonanza.jpg
 
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What the hell - all I ever come home with is dog shi....... poop.
 
Yeah, I know the feeling, my dad finds all sorts of neat stuff, civil war bayonet, sword belt buckle, etc....
and me, sort of like Charlie Brown, "I got a rock" or in metal detector speak, a nail, a rusty bean can, (no gold coins, not even any beans)
But good for them! always pays to keep your eyes wide open.
 
I think the only reason they are in such good shape (like the article states) is because whoever they belonged to got them right when they were out out of the mint. Maybe a gold miner that shipped his raw gold to the mint and got coinage in return, then just buried it.
 
I think the only reason they are in such good shape (like the article states) is because whoever they belonged to got them right when they were out out of the mint. Maybe a gold miner that shipped his raw gold to the mint and got coinage in return, then just buried it.
and buried them in a can that didn't rust away and also held coins from the DAHLONEGA MINT ( read story ) This is some ones collection that was buried to hide it in the 30's I bet, makes me wonder about the age of the home also Of course you would admit to finding it on YOUR PROPERTY - Wouldn't say you got it else where Now would you ?
As they say in Civil War Relic Collecting Buy the Item NOT THE STORY STUFF IS ALREADT SLABBED WITH A HOARD NAME Kicks the value up
 
Like the grim reaper or the taxman/government will soon appear.
I hope they escaped without harm, cash in hand.

Imagine the repercussions
should have kept their mouths shut, should have sold a coin here or there.

Uncle whiskers is such a jerk!
 
agreed someones collection, im sure the coin co. traced previous owners of the property
i give it 48 hrs, and the heirs,of the owner of those coins, will be knocking im not sure what i would do
if i found coins that have a potential value of a mill each, i think the probs you would encounter trying to
find a buyer in secret, would be worse than the tax man
more info and imgs
The coins were store chronologically, with the 1840s and 1850s pieces going into one canister until it was filed, then new coins going into the next one and the next one after that. The dates and the method indicated that whoever put them there was using the ground as their personal bank
California couple strikes gold after finding $10million of 19th century coins buried on their property | Mail Online


Read more: California couple strikes gold after finding $10million of 19th century coins buried on their property | Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
 
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Holy cow there's like 20 posts on this lol..looks like I was first..confirms my suspicions that I have to much time on my hands. Mike

So get out there and get "swingin'"!
 
i know there are several threads on this find, and instead of starting another on cache markers,
i think ill just keep it here , anyway the answer to 1 of the Qs by the coin dealer was interesting
the finders call their selves john and mary, those markers are out there keep an eye out

Q. Had you ever noticed anything peculiar in the area before?
John: Years ago, on our first hike, we noticed an old tree growing into the hill. It had an empty rusty can hanging from it that the tree had grown around – that was right at the site where we found the coins… At the time we thought the can might be a place for someone to put flowers in for a gravesite – something which would have been typical at the time.
There was also an unusual angular rock up the hill from where the coins were buried – we’d wondered what in the heck it was.
Mary: It wasn’t until we made the find that we realized it might have been a marker: starting at the rock, if you walk 10 paces towards the North Star, you wind up smack in the middle of the coins!
Hoard Interview


 
another interesting tid bit, maybe they will find Tnet, to get some info on a grid search
i know i would search every sq ft of the place

Q. After the initial discovery how did you locate and excavate the entire hoard?
John: There were five more small cans – which brought the total up considerably, and we found the last one with a metal detector. It was a big day when we found that can. We’ve poked around more and now have a sense that we found everything that’s in the area.

Hoard Interview

 
They bought it with the property no one could claim ownership but, them. They are gonna have to pay tax at the top rate between the feds and the state its gonna be around 47 percent......get this weather they are sold or not the tax is due the first year of true ownership....so they owe 450,000.00 by April 15th.....I would definately have kept my mouth shut....but, how do you sell something you actually know very little about some of those coins are worth 10k + a piece....I think them being taxed the first year of ownership is just wrong.... but, its in the books so their stuck in their situation now.
 
This blows me away! Good for them!
 
yea they havent sold any coins yet, the tax lady told me they would pay taxes on face value
coin dealer says the face value is 28k + so at the 47% thats like 12k-13k for last yrs tax on
them, reading again at the coin dealer site, he says they are going to sell some at amazon
i dont think amazon does auction? so i guess fixed price at the Amazon.com: Collectibles & Fine Art
so im guessing you can go to site and find a 1mill$ priced coin soon, thats crazy

Each coin has been independently authenticated, graded and certified by the Professional Coin Grading Service of Irvine, California. The find comprises almost 1400 $20 gold pieces, fifty $10 gold pieces and four $5 gold pieces, all of which were struck between 1847 and 1894. Highlights of the cache include at least thirteen finest known specimens, among them an 1866-S No Motto Double Eagle valued at around $1 million.
California Family Discovers Buried Treasure ? Hidden Cache of 19th Century U.S. Gold Coins May Be Most Valuable Hoard Unearthed in North America
 

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