Are there any stories of people that lived in poverty or close to it to discover late in life that t
jessewvu
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an extremely valuable coin in their possession they knew nothing about?
I can't help but think there must be a story out there somewhere of a person living in poverty discovering they had a coin worth a small (or large) fortune. Anyone have an example?
I can't help but think there must be a story out there somewhere of a person living in poverty discovering they had a coin worth a small (or large) fortune. Anyone have an example?
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The most memorable involved a guy that lived in the country in south Jersey (yes, they have country in NJ). I was working for an auction firm and living in MD when I was asked to go visit him about a coin he found in his tomato garden while planting the fruits that made the Garden State famous.
I made the trek to Jersey and sat down at his dining room table. There was a tarp over the roof because he couldn't afford to repair it. The minivan in the driveway must have had 150,000 miles on it. He was retired and, frankly, broke.
As it turned out, he had found a 1792 half disme in his garden. I told him it could bring $15-20K at auction and it literally brought tears to his eyes. That was the new roof he needed. It was one of the coolest moments I can remember in 7+ years doing auction stuff.
I could cite other "found" coins too. One widow whose husband had dug a basement under their mobile home to hide his coins (and made his family sleep in the car when he went to coin shows, feeding the kids brown bag lunches on their way) took the money from his collection and, among other things, went to Paris for several weeks. After a lifetime of doing without, she was able to spoil herself a little and provide for her kids in a way they never had been before.
Betts medals, colonial coins, US Mint medals, foreign coins found in early America, and other numismatic Americana
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<< <i>could cite other "found" coins too. One widow whose husband had dug a basement under their mobile home to hide his coins (and made his family sleep in the car when he went to coin shows, feeding the kids brown bag lunches on their way) took the money from his collection and, among other things, went to Paris for several weeks. After a lifetime of doing without, she was able to spoil herself a little and provide for her kids in a way they never had been before. >>
A very pathetic example of a husband.... Good for the wife. This man didn't deserve a family...
I would have buried him in a plain wooden box. And threw one common date penny in with him.
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<< <i>A friend of mine told me a story about her Great Grandparents that lived off their land in Texas. They discovered a Wells Fargo box while digging fence post holes. Inside was gold and silver coins. Being God fearing ,they decided to turn it in to the authorities. They never saw the Wells Fargo box or its contents again.
That box would be a very cool find.....
Turns out the coin was an example of a very rare SF Gold half eagle (I think it was a half eagle). The population of this coin was less than 15 coins. The family's coin was graded by NGC at the 2005 SF ANA show. It is the highest graded example of this coin (EF or AU?). It was subsequently sold at auction for close to $250K. Great story IMHO. Even better if the family was down on their luck.
<< <i>I do not know if the family was down on their luck when they cashed in, but I remember in 2005 an asian family in the SF Bay Area showed up at a spring Santa Clara show to show a San Francisco mint gold coin that had been in her family since the gold rush days.
Turns out the coin was an example of a very rare SF Gold half eagle (I think it was a half eagle). The population of this coin was less than 15 coins. The family's coin was graded by NGC at the 2005 SF ANA show. It is the highest graded example of this coin (EF or AU?). It was subsequently sold at auction for close to $250K. Great story IMHO. Even better if the family was down on their luck. >>
If I remember correctly it was an 1854-S.
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you are correct on the date and mint but i'm thinking it was a quarter eagle
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In one home – little more than a wood shack with windows – we had to wait for the mother to return from work at a chicken processing plant. It was obvious that there were few visitors, and while waiting, one of the children brought out some family photos and a little box of heirlooms. The photos were the usual snapshots of birthdays and men in uniform and the box contained commonplace WW-II medals. There were also some souvenir medals from the Saint Louis Worlds Fair and the Panama Pacific Exposition – memories of ancestors long departed and better times for the family. At the bottom was a cloth bag. Inside was a PPIE commemorative set (single set) in its copper frame.
The other teacher with me didn’t know anything about the medals or coins and admired everything. I contained my surprise and copied her approach.
When the mother arrived, we gave her the food basked and the cash that traditionally accompanied it. I then asked her to come outside for a moment. As we stood on the few boards that passed for a porch, I told her about the very valuable PPIE set, how much it was worth and gave her the names of several reputable coin dealers (as well as my own name). I don’t think she fully understood.
About a month later, the mother showed up at my classroom door after school. She wanted to sell the PPIE set and did not feel comfortable going to a coin dealer alone. I offered to drive her to a very reputable dealer and go in with her, and the next afternoon we visited the dealer. When we arrived the dealer, who I knew somewhat, examined the set then called me aside. Not only was it the best set he had ever seen, but he offered me a substantial finders fee. The money would have been nice, but I had a solid roof over my head and a steady job that didn’t involve ripping the guts from dead chickens all day. I told him to add the finders fee to he offer to the owner. I also reminded him that I knew what the coins were worth, and he was expected to make a full-value offer. In the end, after some shuffling around, and gestures from me to raise the price or we’d walk away, he made a nearly full retail offer that was accepted.
I drove the mother to the bank the check was drawn on and she cashed it. On the drive home, she said almost nothing, but there was a huge smile on her face.
I don’t know what happened to the family or the coins; my career took me to another part of the state the next year. I’ve always hoped that the money helped them get a new life together and maybe the kids grew up to better things.
Betts medals, colonial coins, US Mint medals, foreign coins found in early America, and other numismatic Americana
Whats the value of the PPIE?
Mike
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