California couple strikes gold

 

A Northern California couple out walking their dog in February 2013 on their Gold Country property stumbled across a modern-day bonanza: $10million 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 $1million apiece.

'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 where the coins were found. He first met the couple last April.

They have no idea who put the the coins there, he said.

The pair are choosing to remain anonymous, Kagin said, in part to avoid a renewed gold rush to their property by modern-day prospectors armed with metal detectors.
They are a self-employed couple in their 40s.

'The family and the attorneys researched who might have put them there, and they came up with nothing,' Kagin said. 

'The nearest we can guess is that whoever left the coins might have been involved in the mining industry.'

They also don't want to be treated any differently, said David McCarthy, chief numismatist for Kagin Inc. of Tiburon.

'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,' he said.

They plan to put most of the coins up for sale through Amazon while holding onto a few keepsakes. They'll use the money to pay off bills and quietly donate to local charities, Kagin said.

Before they sell them, they are loaning some to the American Numismatic Association for its National Money Show, which opens Thursday in Atlanta.