California couple finds buried treasure worth $10M in back yard - WKRN News 2

California couple finds buried treasure worth $10M in back yard

Posted:

A couple in California is a little more rich after making quite the discovery while walking along a path they'd hiked many times before.

ABC News reports they stumbled upon five old cans on their property, each containing a collection of rare coins estimated to be worth $10 million.

The couple, who has been trying to stay anonymous, is being represented by the president of Kagin's, Inc. and Holabird-Kagin Americana, a western Americana dealer and auctioneer.

Dr. Don Kagin, a coin expert, said almost all of the 1,427 coins are in un-circulated and mint condition.  They date from 1847 to 1894.

He told ABC News Tuesday that the couple plans to sell most of the coins, but before they do, they are "loaning some to the American Numismatic Association for its National Money Show, which opens Thursday in Atlanta."

Once for sale, 90% of the collection will be sold through Amazon and on the company's Web site, some of the rarest being worth as much as $1 million each.

"We'd like to help other people with some of this money. There are people in our community who are hungry and don't have enough to eat.  We'll also donate to the arts and other overlooked causes," the couple said.

They added, "In a way, it has been good to have time between finding the coins and being able to sell them in order to prepare and adjust.  It's given us an opportunity to think about how to give back."

Kagan and his colleague, David McCarthy, met the couple last April, two months after the treasure was found.

They told them their story will "be in the annals of numismatic stories for quite some time," ABC News said.

The couple replied, "It would have been quite a pity not to share the magnitude of our find.  We want to keep the story of these coins intact for posterity."

*ABC News contributed to this report.

California couple finds buried treasure worth$10M in back yard

 

A couple in California is a lot richer aftermaking quite the discovery while walking along a path they'd hiked many timesbefore.

 

ABC News reports they stumbled upon five old canson their property, each containing a collection of rare coins, estimated to beworth $10 million.

 

The couple, who has been trying to stayanonymous, is being represented by president of Kagin's, Inc. andHolabird-Kagin Americana, a western Americana dealer and auctioneer.

 

Dr. Don Kagin, a coin expert, said almost allof the 1,427 coins are in uncirculated and mint condition.  They date from 1847 to 1894.

 

He told ABC News Tuesday that the couple planto sell most of the coins, but before they do, they are "loaning some to theAmerican Numismatic Association for its National Money Show, which opensThursday in Atlanta."

 

Once for sale, 90% of the collection will besold through Amazon and on the company's Web site, some of the rarest beingworth as much as $1 million each.

 

"We'd like to help other people with some ofthis money. There are people in our community who are hungry and don'thave enough to eat.  We'll also donate to the arts and other overlookedcauses," the couple said.

 

They added, "In a way, it has been good tohave time between finding the coins and being able to sell them in order toprepare and adjust.  It's given us an opportunity to think about how togive back."

 

Kagan and his colleague, David McCarthy, metthe couple last April, two months after the treasure was found.

 

They told them their story will "be in theannals of numismatic stories for quite some time," ABC Newssaid.

 

The couple replied, "It would have been quitea pity not to share the magnitude of our find.  We want to keep the storyof these coins intact for posterity."

 

*ABCNews contributed to this report.

 

ABC NEWS: California couple finds $10M buriedtreasure in back yard

http://abcnews.go.com/blogs/headlines/2014/02/california-couple-finds-10m-buried-treasure-in-back-yard/

Powered by WorldNow

441 Murfreesboro Road Nashville, TN 37210

Telephone: 615.369.7222
Fax: 615.369.7329
Email: news@wkrn.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Nashville, LLC. A Media General Company.