A man from Kentucky made an incredible discovery on his farm, unearthing more than 700 rare gold coins in what has been dubbed the ‘Great Kentucky Hoard.’ The unidentified individual captured the moment on film as he unearthed the coins, all minted between 1840 and 1863. Excitedly, he declared, “This is the most amazing thing ever.” Among the coins found was an 1863 $20 Gold Liberty coin, which experts from GovMint believe could fetch up to six figures at auction. The collection includes 18 of these ultra-rare pieces.
This means that if each of those coins is worth at least $100,000, the owner could potentially make a $1.8 million profit. And that’s not even counting the numerous other rare coins in the collection.
Historians believe that this ‘treasure’ belonged to affluent Kentuckians in the 1860s who buried large amounts of money to safeguard it from a Confederate attack during the American Civil War.
One of the coins in the collection is a 1863 $20 Gold Liberty, pictured here. This particular coin typically sells for a high six-figure amount at auction.
An unidentified man captured the moment on camera as he unearthed a collection of treasures dating back to the years between 1840 and 1863. Excitedly, he exclaimed, “This is the most incredible thing ever!” The full assortment of coins was on display in the images. The coins were authenticated by the Numismatic Guarantee Corporation (NGC), which assessed them as being in “extremely fine to mint state condition.” The exact location of the land where the coins were found remains uncertain, but reports suggest that it belonged to the man who discovered them, according to Live Science. A majority of the valuable hoard is believed to be gold coins, including $1 Gold Indians, $10 Gold Libertys, and $20 Gold Libertys, as estimated by experts.
During the Civil War, many people hid their money due to the presence of outlaws, bootleggers, and gangsters, leading to a scarcity of coins in circulation as households buried their savings. Kentucky, being located on the border between the North and South and declared neutral by the state government, was particularly affected by this phenomenon. US coin expert Jeff Garrett, who edited The Official Redbook: A Guide Book of the United States Coins, described the opportunity to work with the “Great Kentucky Hoard” as a highlight of his career.
The significance of this discovery cannot be overemphasized. Finding one mint condition 1863 double eagle would be a significant numismatic event. Discovering nearly an entire roll of superb examples is difficult to comprehend. Meanwhile, Ryan McNutt, a conflict archaeologist at Georgia Southern University, explained that many Americans impacted by the Civil War had experience hiding goods and valuables.
Ian Russell, the president of a California-based coin auction house called GreatCollections, has identified the coins most likely to fetch substantial sums. This insight follows coin expert Ian Russell, the president of GreatCollections, sharing his advice on spotting valuable rare coins in an interview with Dailymail.com. Russell specified that any coin with a double die is automatically considered rare.
A double die, which gained fame after the 1955 issue, denotes a coin with a double image on some or all of its design. This anomaly arises when a coin was not manufactured correctly, resulting in an accidental duplication of imagery.
In general, coins with missing features or additional details tend to have higher values in the auction house, according to Russell. He mentioned that his auction house serves a wide range of clients, from experienced coin collectors to beginners who stumble upon coins at home and think they may not be valuable. During the pandemic, there has been a significant increase in the number of female collectors. Previously dominated by males, with women making up only 0.5% of the community, the number has risen to about 5 to 6%. This change is attributed to couples spending more time together at home due to Covid, with more husbands involving their wives in coin collecting activities.
