LOS ANGELES (MAMOSA Report) – A middle-aged American couple has unearthed 6 pots of U.S. gold coins worth 10 million dollars in the backyard of their home while they were walking their dog.
They are choosing to remain anonymous, in part to avoid a renewed gold rush to their property by modern-day prospectors armed with metal detectors. Also, they don’t want to be treated any differently.
The US media is reporting that a Northern California couple walking their dog on their property is proving why you shouldn’t be above stooping down to check out an old can if you stumble upon one. What they found is 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, reports US publication ‘The Blaze.’
“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 in California’s Gold Country, where the coins were found. They have no idea who put them there, he said.
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.
“I just about fell out of my chair,” McCarthy told KPIX-TV of the moment when he learned of this discovery. “This is something you dream about. You do not hear about buried treasures like this.”
Although most of the coins were minted in San Francisco, one $5 gold piece came from as far away as Georgia. The discovery of gold at Sutter’s Mill, about 50 miles northeast of Sacramento, set off the California Gold Rush of 1848.
The coins had been buried by 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.
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.