California Couple’s Gold Coin Discovery worth over $10M: PCGS

February 27, 2014 – A California couple went on a routine stroll recently and subsequently stumbled upon something not so routine – a stash of over 1,400 one-ounce U.S. gold coins that were minted between 1847 and 1894. Rumors have been swirling over the actual value of the coins, and three numbers explain just how amazing of a find the couple made.

-The face value of each coin is $20 meaning that the total face value of the haul is about $29,000.

-The value of the gold in each coin brings the total value of all of the coins up to almost $2 million based on today’s spot price of $1330 per ounce.

-The couple submitted the coins, which were found in a handful of rusty tin cans partially buried near a tree, to the Professional Coin Grading Service (PCGS). PCGS authenticated, graded and certified each of the coins and found that the total value of the lot exceeded $10 million based on the current PCGS price guide.

This story is a wonderful reminder that all gold coins are not created equal, and time and circumstances can make a world of difference. For example, the coins found by the California couple could have been subject to seizure and melting from 1933 to 1974 had they been circulated or of a non-rare variety. In 1933 they were literally worth $20, and today some of the coins in this particular bunch are worth upwards of $1 million.

Invest in gold coins with caution, because what you don’t know about the gold coin market could hurt you. Additionally, if you deem it is in your best interests to hide your loot under a tree in the backyard make sure one person close to you and trusted by you knows where the coins are located so that in the event of your untimely passing you can rest easy knowing that your loved ones will be able to inherit your hard-earned wealth.

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