US couple finds USD 10 million worth of gold coins buried inside their property

Feb 26, 2014, 14:08 IST | Agencies

Washington: In the find of a lifetime, a US couple has discovered a cache of rare 19th Century gold coins, worth more than USD 10 million, buried near an old tree on their property, while the pair was walking their dog.

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The couple in Northern California found more than 1,400 coins, dating from 1847 to 1894, stored in decaying metal cans buried in the shadow of the tree on their property in Gold Country.

The coins are in uncirculated, mint condition and the estimated value of the treasure is believed to be in excess of USD 10 million.

This may be the most valuable hoard of gold coins unearthed in North America, according to veteran numismatist Don Kagin, 'CBS San Francisco' reported. Kagin said that the face value of the coins is just over USD 28,000, but some of the rare coins are collectors' items that are worth USD 1 million each.

Kagin, president of numismatic firm Kagin's Inc of Tiburon, said the couple wants to remain anonymous and plans to sell most of the coins.

"We all dream about discovering buried treasure; seeing the real thing in person - piles of gold coins encrusted in dirt and rust the experience was just indescribable," said Kagin Inc senior numismatist David McCarthy who evaluated the coins.

"Never in my wildest dreams would I imagine coins coming out of the ground in the kind of condition that I saw in front of me. Many pieces were finer than anything known in major collections or museums," said McCarthy.

Kagin said the previous largest gold coin find in the US was discovered in Tennessee in 1985 with coins having a face value of USD 4,500, eventually selling for around USD 1 million.

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