A Couple And Their Dog Finds Rare Gold Coins Worth Millions Of Dollars[shareaholic app=”share_buttons” id=”15888464″]
The discovery is thought to be the largest of its kind in U.S. history.The buried treasure is known as the “Saddle Ridge Hoard” because it was discovered near a hill the couple called Saddle Ridge. The husband and wife, who wish to remain anonymous, was walking their dog on a trail when they noticed a partially buried can sticking out of the ground. They were able to dislodge the can using a stick and carried it back to their house. The can was unusually heavy, but nothing could have prepared them for what they would find when they pried the lid open: mixed in with dirt and stones, they could see the edges of numerous gold coins — a literal pot of gold!
They returned to the site and immediately located the remains of another can, buried a bit deeper and about a foot to the left of the first one.
Rust had consumed about half of the can’s sides, exposing more gold coins. Repeated trips to the site (and the help of a metal detector) eventually uncovered a total of eight cans filled with over 1,400 rare U.S. $20 gold coins, known as double eagles. Nearly all of the coins, dating from 1847 to 1894, are in uncirculated, mint condition. At least 14 coins in the discovery are considered the finest known for their date and mint mark. Most were made at the San Francisco mint, founded in 1854 to process the nuggets that prospectors were finding in the newly discovered California gold fields. Although the face value of the gold pieces only adds up to about $27,000, their worth is over $10 million in today’s market. Condition affects the value of a coin, as does rarity. The couple is selling the collection and using the proceeds to pay off bills and donating to charities.
Sales of rare U.S. coins reached a record of nearly $536 million last year.
With a dozen coins selling for $1 million or more in 2014 and the first gold coin struck for the United States fetching $4.5 million, the nonprofit Professional Numismatists Guild estimates the overall U.S. rare coin market to be worth about $5 billion. Barry Stuppler, secretary of the Professional Numismatists Guild, has seen plenty of changes in his 52 years in the coin business, with buyers increasing in recent years. “The rarities do the best, particularly gold and silver coins,” said Stuppler.
Walter J. Husak, a retired aerospace entrepreneur, knows just how lucrative the rare coin market can be. He began collecting coins while summering at his grandparent’s farm in Iowa in 1955. He took the pay he received for his farm chores and began buying coins. Walter sold a collection of 301 rare penny coins dating from 1793 to 1814 that he gathered over more than 13 years for $10.7 million, about double what he invested in it. “I never thought it would go up that much,” he said. “There are a lot of people getting involved in coins.”
Allouez Rare Coin Gallery is the largest coin gallery in Northeast Wisconsin.
They have over 50 years of experience in coins, currency, gold, silver, and coin collecting. If you have a question regarding coins, they can answer it and provide some knowledge. If you happen to find some coins while walking your dog on a trail or have some gold and silver laying around, bring it in today and see what it’s worth. You can also visit Allouez Rare Coin Gallery if you’re looking to invest in gold or silver as well!
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