The California couple who just found $10 million worth of gold coins on their property while walking their dog may not be making any money off their find any time soon.
The coins may have been taken during a robbery in 1900, according to a San Francisco Chronicle report posted online on Monday. Jack Trout, a fishing guide in Northern California, gave the newspaper a story from The Bulletin of The American Iron and Steel Association, dated January 1, 1900, that discusses the theft of $30,000 in gold coins from a cashier at the San Francisco Mint.
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5 Things You Should Know About Coins
Why Are They So Important?
Paper money wasn’t authorized in California until the 1870s, so it’s incredibly rare to find any coins from before then, according to experts.
Additionally, the majority of the coins are uncirculated, having been put away seemingly right away after being struck. They were valued by Do Kagi, a numismatist in charge of the collection’s sales and marketing.
Who Discovered Them?
In order to keep contemporary prospectors from stealing gold from their rural Northern California property, Kagi claims that the couple, a middle-aged husband and wife.
Eight cans with coins inside of them were found on the property, hidden in the shadow of an ancient tree.
A handful of the coins will be kept by them personally, while the remainder will be used to settle debts and support nearby organizations. The Old Mint’s conversion into a museum will gain financially from Tuesday’s action.
What Source Did the Coins Have?
According to Kagi, the majority of the samples were collected at the San Francisco Met. Though suggestions have surfaced, it is unclear who put them in the ground or how they were obtained.
People have liked the hypotheses surrounding stagecoach bandit Black Bart, outlaw Jesse James, and theft at the San Francisco Met, according to Kagi, but none of the speculations have come to fruition.
What Is Included in the Collection?
The Treasury consists of 1,373 $20 double eagles, fifty $10 gold pieces, and five $5 gold pieces. The crown gem of the collection, an 1866-S No Motto $20 gold piece valued at more than $1 million, is one of the coins that will be on display.
How Does This Coin Find Compare to Other Coin Discoveries?
The largest single finding in American history, according to Kagi, is this find. One of the largest previous finds of gold was made by laborers in Jackso, Texas, in 1985, and it was valued at $1 million.
More than 400,000 silver dollars were found in the residence of a Reo, Nevada, woman who passed away in 1974. They were later sold for $7.3 million at auction.
In the 1980s, gold coins and ingots estimated to be worth up to $130 million were found in the wreckage of the SS Central America.
But history knew exactly where that treasure was since the ship ran aground during a hurricane in 1857 off the coast of North Carolina.