Couple Find Gold Coins Worth $10m In Back Yard

[Jazzy]

A couple have hit the jackpot after they discovered $10m (£6m) of mint condition gold coins buried underneath an old tree in their back yard.

The face value of the 1,427 coins, which date from 1847 to 1894, is around $27,000 (£16,000) but some of them are so rare they could sell for nearly $1m (£600,000) each.

The husband and wife made the find inside eight rusted metal cans as they walked their dog on their property in Gold Country, California, and now plan to sell most of the coins online.

David Hall, co-founder of Professional Coin Grading Service, which authenticated the find, said: "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.

"It's like they found the pot of gold at the end of the rainbow."

The couple have chosen to remain anonymous, but have loaned some of the coins to the American Numismatic Association for its National Money Show in Atlanta on Thursday.

David McCarthy, chief numismatist for Kagin Inc in Tiburon, said: "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."

The coins came in $5, $10 and $20 denominations and would likely have been buried as soon as they were put into circulation. Most were minted in San Francisco.

Video of the coins

How ironic they live in Gold Country, California.

 

[DrLeftover]

For some reason I suspect the State and other bodies are going to be most interested in this 'windfall', and there will probably be a lawsuit or three to have them turn it all over to the politicians.

 

[Jazzy]

For some reason I suspect the State and other bodies are going to be most interested in this 'windfall', and there will probably be a lawsuit or three to have them turn it all over to the politicians.

Why do you suspect that's going to happen?

 

[DrLeftover]

621 F.2d 1340

In re STATE OF FLORIDA, DEPARTMENT OF STATE, Petitioner-Appellant,
v.
TREASURE SALVORS, INC., a corporation, and Armada Research
Corp., a corporation, Plaintiffs-Appellees,
The Unidentified Wrecked and Abandoned Sailing Vessel, etc.,
Defendant.

No. 78-2950.

United States Court of Appeals,
Fifth Circuit.

July 24, 1980.

http://openjurist.org/621/f2d/1340/state-of-florida-department-of-state-v-treasure-salvors-inc

 

[Jazzy]

This is California and it was found on property they own. Finders keepers, losers weepers....