A Kentucky man digging in his cornfield earlier this year made the discovery of a lifetime, finding more than 800 coins from the mid-1800s.
The Great Kentucky Hoard, as it has been dubbed by numismatists, has mostly U.S. gold coins dating between 1840 and 1863. The value of the coins could exceed $2 million, WAVE-TV reported.
According to Coin World, the coins unearthed include 741 Coronet and Indian Head gold dollars, a number of 1863 Coronet $20 double eagles and small amounts of Coronet $10 eagles and Seated Liberty silver issues.
The coins are dated from 1840 to 1862 and are estimated at a value exceeding $2 million. https://t.co/1otcb5pypl
— WAVE (@wave3news) July 13, 2023
The gold dollars are dated from 1850 through 1862, according to Coin World. Their conditions are remarkably good, considering their age.
“Underneath were just these phenomenally beautiful, preserved coins,” Certified Collectibles Group Executive Vice President Andrew Salzberg told WAVE. “And I think they were preserved so well because they weren’t exposed to air, and they were buried in the ground.”
The person who found the coins and where they were found have not been revealed. The reason why the coins were buried are also unclear, although it is possible that the owner buried it during the Civil War to protect his stash from Union or Confederate armies.
“If you had a lot of money, historically, you buried it,” President of the Louisville Numismatic Exchange Byrd Saylor told WAVE. “Banks were good. They robbed the banks. You had to find a place that was secure. In most times throughout history, people bury money. What happens if you bury money and get killed? It stays in the ground.”
Veteran Kentucky numismatist Jeff Garrett, from Mid American Rare Coin Galleries in Lexington, told Coin World that he was contacted by the finder several months ago, who wanted advice about the collection.
“While I’m always excited when someone calls asking for advice about a rare coin discovery, the opportunity to handle The Great Kentucky Hoard is one of the highlights of my career,” Garrett told Coin World. “The importance of this discovery cannot be overstated, as the stunning number of over 700 gold dollars represents a virtual time capsule of Civil War-era coinage, including coins from the elusive Dahlonega Mint. Finding one Mint condition 1863 Double Eagle would be an important numismatic event. Finding nearly a roll of superb examples is hard to comprehend.”
The coins have been authenticated, graded and encapsulated by Numismatic Guaranty Co., according to Coin World.
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