Gold Coin Hoard

ricko · February 25, 2014 4:43AM

Check this out..... accidental find, no metal detector..... unbelievable. Cheers, RickO

null

commoncents05 · February 25, 2014 4:49AM

They're going to sell some on Amazon? Did I read that right?

-Paul

BAJJERFAN · February 25, 2014 4:56AM

linktofornia

FinallyHere · February 25, 2014 4:56AM

According to the article, they aren't going to sell SOME via Amazon....but MOST. Something doesn't make sense...given who is "advising".

Quote from the article:
They plan to put most of the coins up for sale through Amazon while holding onto a few keepsakes.

Regulated · February 25, 2014 4:56AM

You did.

Boosibri · February 25, 2014 5:05AM

Wow, wonder if this is going to blow any San Francisco gold pops. The there are some extremely tough $5's and $10's...

Boosibri · February 25, 2014 5:10AM

The find comprises almost 1400 $20 gold pieces, fifty $10 gold pieces and four $5 gold pieces, all of which were struck between 1847 and 1894. Highlights of the cache include at least thirteen finest known specimens, among them an 1866-S No Motto Double Eagle valued at around $1 million.

Highlights of the cache include at least fourteen finest known specimens, among them an 1866-S No Motto Double Eagle valued at close to $1 million. Other highlights include finest example or tied for finest example certified by PCGS: 1877-S PCGS MS65 (tied for “top pop”); four 1888-S PCGS MS64 (tied for “top pop” at PCGS); two 1889-S graded PCGS MS65 (tied for new “top pop”); and an 1894-S PCGS MS65 (tied for “top pop”).

Saddle Creek Hoard - Kagins

mkman123 · February 25, 2014 5:15AM

why doesn't something like this happen to me? I'm happy for them

mvs7 · February 25, 2014 5:16AM

Holy crap! Thanks for the head's up on the article! I think Boosibri's right about this significantly altering the San Fran gold pops. The article says $27k face... that's 1350 coins if they were all double eagles, but the article says it's a mix of $5, $10, and $20s.

Boosibri · February 25, 2014 5:17AM

<< Holy crap! Thanks for the head's up on the article! I think Boosibri's right about this significantly altering the San Fran gold pops. The article says $27k face... that's 1350 coins if they were all double eagles, but the article says it's a mix of $5, $10, and $20s. >>

Its 1350 $20's, 50 $10's and 5 $5's per the Kagins press release. Whew, my $5's are safe!

DeepCoin · February 25, 2014 5:20AM

Perhaps there were many common, circulated coins that are not particularly rare. It might make sense to sell common MS61 coins via Amazon and keep the cream of the find for auction. I am certain that Amazon will not charge a huge percentage, and this is a GUESS, but more like an individual transaction cost. Plus, the special sticker will generate some revenue in terms of common coins selling above the average for the type.

Maybe Amazon is getting into the coin market in terms of retail. That would be an interesting development.

BAJJERFAN · February 25, 2014 5:21AM

What do you suppose grading fees were?

mvs7 · February 25, 2014 5:26AM

The Kagin's article also mentions that the hoard coins got the special gold foil label treatment from PCGS, a la the SS Central America coins. Interesting.

Timbuk3 · February 25, 2014 5:26AM

Awesome !!!

Boosibri · February 25, 2014 5:27AM

<< Perhaps there were many common, circulated coins that are not particularly rare. It might make sense to sell common MS61 coins via Amazon and keep the cream of the find for auction. I am certain that Amazon will not charge a huge percentage, and this is a GUESS, but more like an individual transaction cost. Plus, the special sticker will generate some revenue in terms of common coins selling above the average for the type.

Maybe Amazon is getting into the coin market in terms of retail. That would be an interesting development. >>

Read the Kagins link I posted above and also the media and press page on the site.

MGLICKER · February 25, 2014 5:29AM

<< The Kagin's article also mentions that the hoard coins got the special gold foil label treatment from PCGS, a la the SS Central America coins. Interesting. >>

What does the label say, "rotting root effect"?

RYK · February 25, 2014 5:32AM

Heck of a discovery. Hoards are discovered/uncovered fairly regularly. Remember the French champagne gold coin hoard from a couple years ago?

By choosing to sell through Amazon, they are quite obviously going after the non-collector market. I suspect that the better and more interesting selections will be sold through more conventional numismatic channels.

dbcoin · February 25, 2014 5:34AM

<< What do you suppose grading fees were? >>

The article says they are worth $10M so I am guessing 1% of that or $100K. Maybe a slight discount to say $80K in grading fees. Below that it really isn't worth it to PCGS as they have to assume warranty risk. Maybe that is the reason David Hall and Van Simmons sold some of their CLCT stock. They were rumored to have sold stock and bought coins. Maybe they bought the top pops for themselves.

lordmarcovan · February 25, 2014 5:35AM

<< They're going to sell some on Amazon? Did I read that right?

-Paul >>

You can buy coins on Amazon?

Silveraholic · February 25, 2014 5:35AM

I probably can't afford any of the coins, but how much for the can these were found in?

TwoSides2aCoin · February 25, 2014 5:38AM

Love it. California GOLD RUSH

johnny9434 · February 25, 2014 5:39AM

i read that today. thats quite the haul.

jmb · February 25, 2014 5:43AM

Wonder what the date of the Dahlonega Half Eagle is ........

FullStrike · February 25, 2014 5:43AM

<< I probably can't afford any of the coins, but how much for the can these were found in? >>

Im surprised someone isnt selling dirt from near the recovery site ( with COA - of course

). Now that is something maybe I could afford.

keyman64 · February 25, 2014 5:45AM

TWO MORE LINKS...

http://www.sfgate.com/bayarea/article/Gold-Country-couple-discovers-millions-in-buried-5266314.php#page-1

http://www.nbcnews.com/news/us-news/california-couple-finds-10m-gold-coins-buried-yard-n38471

keyman64 · February 25, 2014 5:46AM

AMAZON?! Really? What the? Is that really the best venue? Who advised them on that?

WillieBoyd2 · February 25, 2014 5:59AM

I hate to say it but I have some real suspicions about this story.

Outhaul · February 25, 2014 6:06AM

Find a hoard, dummy up, sell a few when you need to. You don't announce it to the world. You can bet that Uncle Sam is going to look for a share.

dbcoin · February 25, 2014 6:07AM

wouldn't they have been better off selling a few here and there and moving to a no income tax state?

coindeuce · February 25, 2014 6:08AM

<< I hate to say it but I have some real suspicions about this story.

>>

Well I hate to say it too, but it certainly didn't take long for the conspiracy theorists to arrive.

"I probably can't afford any of the coins, but how much for the cans these were found in?"

In the words of Larry the CableGuy, "Now that right there is some funny stuff !"

blacksmoke · February 25, 2014 6:10AM

Good for them. I love hearing about great things like this happening to people.

messydesk · February 25, 2014 6:19AM

Just read this myself. What a cool find! And here I get excited about finding a nickel in a parking lot.

Hate the gold foil label, though.

291fifth · February 25, 2014 6:20AM

They would probably have been better off just having them slabbed and quietly selling them via a major auction. The publicity could bring unwanted attention from scammers, thieves or claimants that could tie the hoard up in court and cost them huge legal fees.

I hope they don't run into any trouble.

coindeuce · February 25, 2014 6:25AM

Yeah. It's gotta be some of the stash left hidden by The Knights of the Golden Circle. Ya know, the South will rise again, only from West of the Rockies.

Barry · February 25, 2014 6:40AM

<< wouldn't they have been better off selling a few here and there and moving to a no income tax state? >>

The story I read on Yahoo said they are staying anonymous to maintain their lifestyle and plan to donate to charity. Clearly, saving every cent at the expense of uprooting their lives isn't a priority.

dbcoin · February 25, 2014 6:54AM

<< 

<< wouldn't they have been better off selling a few here and there and moving to a no income tax state? >>

The story I read on Yahoo said they are staying anonymous to maintain their lifestyle and plan to donate to charity. Clearly, saving every cent at the expense of uprooting their lives isn't a priority. >>

True. Good point

MrEureka · February 25, 2014 7:06AM

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

This should be interesting!

cheezhed · February 25, 2014 7:12AM

Just read the story, amazing.

kimber45ACP · February 25, 2014 7:33AM

dbcoin · February 25, 2014 8:35AM

Wonder if one of the more valuable coins in this hoard will be the 50 Millionth Item graded by CU

leothelyon · February 25, 2014 8:41AM

What about the inheritance laws, relatives of prior owners, whoever lived on that property at the time, does anyone see the lawsuits coming? What if there's a Will that describes such gold coins but the whereabouts were unknown? I just can't imagine someone burying this much gold and not letting someone know about it before they died. hmmm

OldIndianNutKase · February 25, 2014 8:56AM

<<Perhaps there were many common, circulated coins that are not particularly rare. It might make sense to sell common MS61 coins via Amazon and keep the cream of the find for auction. I am certain that Amazon will not charge a huge percentage, and this is a GUESS, but more like an individual transaction cost. Plus, the special sticker will generate some revenue in terms of common coins selling above the average for the type.

Maybe Amazon is getting into the coin market in terms of retail. That would be an interesting development.
>>

Heritage et al have been raking estate consignments for up to 17.5% for years. Amazon has HUGE potential to change the coin auction market for the better. There is nothing special about Heritage, SB, et. al. If you would not list your house for more than 6%, why would you consign for a 15% BP?? Takes a lot more effort to sell a house.......

OINK

dbcoin · February 25, 2014 9:11AM

<< <<Perhaps there were many common, circulated coins that are not particularly rare. It might make sense to sell common MS61 coins via Amazon and keep the cream of the find for auction. I am certain that Amazon will not charge a huge percentage, and this is a GUESS, but more like an individual transaction cost. Plus, the special sticker will generate some revenue in terms of common coins selling above the average for the type.

Maybe Amazon is getting into the coin market in terms of retail. That would be an interesting development.
>>

Heritage et al have been raking estate consignments for up to 17.5% for years. Amazon has HUGE potential to change the coin auction market for the better. There is nothing special about Heritage, SB, et. al. If you would not list your house for more than 6%, why would you consign for a 15% BP?? Takes a lot more effort to sell a house.......

OINK >>

Well healed sellers like these people now are, don't get clipped with 17.5% buyers fees. If anything they could get 105% of hammer. The buyers pay the vig.

steveben · February 25, 2014 10:07AM

that's an awesome find! i am really happy for them. i can't imagine finding something like that...incredible.

BAJJERFAN · February 25, 2014 10:18AM

<< AMAZON?! Really? What the? Is that really the best venue? Who advised them on that? >>

Maybe they already have an account there. A lot of people/places sell there and give Amazon a commish.

magikbilly · February 25, 2014 10:21AM

Any further info on how these were "restored"? That is an odd word to use. Dipping generally does not cause "bleeding fingers".

Eric

D · February 25, 2014 10:25AM

<< Check this out..... accidental find, no metal detector..... unbelievable. Cheers, RickO

null >>

Just got home from class and was going to post this. How crazy.

The story, not that I was going to post -_-.

-D

CaptHenway · February 25, 2014 10:49AM

<< What about the inheritance laws, relatives of prior owners, whoever lived on that property at the time, does anyone see the lawsuits coming? What if there's a Will that describes such gold coins but the whereabouts were unknown? I just can't imagine someone burying this much gold and not letting someone know about it before they died. hmmm >>

That was my first thought, but I notice that they are not releasing the names or location of the finders.

My second thought was, what did they use to remove the rust stains, and did they have to turn off the sniffer to slab them.

leothelyon · February 25, 2014 10:55AM

<< 

<< AMAZON?! Really? What the? Is that really the best venue? Who advised them on that? >>

Maybe they already have an account there. A lot of people/places sell there and give Amazon a commish. >>

Maybe, just maybe, they'll sell some of their stash on the BST or Trade forums. Do you think DH would have suggested that? Of course, that would mean cutting someone out of the loot, God forbid.

ranshdow · February 25, 2014 12:20PM

I hope Kagin's has the presence of mind to assemble a full catalog of this hoard, with as many pictures as possible, for pedigree purposes before it's disbursed.

I for one will gladly sign up for a copy. Please don't gouge me.

D · February 25, 2014 12:26PM

Walking a dog too, wonder if it was a Golden Retriever.

-D

Gold Coin Hoard

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The more qualities observed in a coin, the more desirable that coin becomes!

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The more qualities observed in a coin, the more desirable that coin becomes!

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