Tags: gold | coins | treasure | find

Northern California Couple Finds $10 Million in Gold Coins

Thursday, 27 Feb 2014 02:26 PM

By Courtney Coren

A Northern California couple found $10 million in gold coins buried in the ground on their property in Gold Country one year ago and reburied it while they figured out what to do.

The couple, whose identities are being kept confidential, found the 1,400 coins when they noticed part of a rusty can sticking out of the ground on their property along a path where they walk their dog almost daily, The Los Angeles Times is reporting.

After they uncovered all that was there, they put the coins in bags and placed them in an old ice chest, which they buried under their wood pile.

The couple later contacted David McCarthy, senior numismatist for Kagin's Inc., the company that appraised the collection, who said that it is good that they couple did not try to clean the coins because it could have greatly reduced the value.

"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, television station KTVU reports. "It's like they found the pot of gold at the end of the rainbow."

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The coins were then brought to David Hall, Professional Coin Grading Services co-founder in Newport Beach, California, who authenticated the coins and said that if they were melted down, the gold would be worth $2 million but that they could be sold on the market for $10 million.

The coins are from 1847 through 1894, and 13 of them are said to be the finest of their kind. One 1866 coin in particular, called the "miraculous coin," is missing the phrase "In God We Trust," which was added that year, though some were still minted without it. That coin alone is said to be worth $1 million.

The coins will go on sale in May on Amazon.com and on Kagin's website.

The couple says that they plan to donate some of the proceeds to charity.

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