One of California’s rare gold coins fetches $15,000

One of California’s rare gold coins fetches $15,000

A treasure trove of rare gold coins unearthed by a California couple last year is now available for purchase through an auction being carried out through Amazon. com and Kagins. com.

The treasure has nearly 1,427 coins that date back to 1847. All the coins are in uncirculated, mint condition, with denominations of $5, $10 and $20. The grand value of the treasure trove has been estimated at around $11 million.

One of the coins has already fetched $15,000 in the initial auction that took place at the Old San Francisco Mint on Tuesday this week. That $20 double eagle coin was reportedly minted in 1874.

The treasure trove was discovered by a husband and wife, identified by Kagins only as John and Mary, when they were walking their dog near a tree on their rural property in Northern California in February 2013.

The funds raised through the ongoing auction will be used to support the San Francisco Museum as well as to renovate a second mint and develop an on-site museum.

David McCarthy, a senior numismatist at Kagins, said, "The family loved the idea that these coins could help in the effort to restore the building where most of the Saddle Ridge Hoard coins were made."

The discovery of this treasure trove is said to be the biggest find of its kind in American history. One of the previous biggest gold coin discoveries was made by construction workers in Tennessee in 1985, when they unearthed a treasure trove worth around $1 million.

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