California Couple Discovers Tin Cans Containing $10 Million Worth of Gold Coins

Source: The AP

Source: The AP

Last Spring, a couple was walking their dog when they discovered decaying tin cans buried in the shadow of an old tree. Now before I go on any further, how do you walk your dog and randomly decide to start digging in the ground? It’s not something people do every day.

The tin cans contained 1,427 gold coins, dating from 1847 to 1894. The Professional Coin Grading Service of Santa Ana recently authenticated the coins and said that they were in mint condition and have never been circulated.

The coins are worth about $27,000 in face value, however Don Kagin, a coin expert whose been in the rare-coin business for 81 years, has told the AP that some of the coins could be worth almost $1 million a piece. This makes it one of the largest discoveries in U.S. history.

To avoid another gold rush, the couple has chosen to remain anonymous. They also didn’t want this to affect the way their peers treated them according to Kagin, who is also representing the couple.

Alex Magaleno from Mashable gave another a great reason of why the couple shouldn’t reveal themselves to the public:

“There have been instances of the U.S. government claiming golden coins found by citizens. In 2011, a judge in the Eastern District Court of Pennsylvania ruled that 10 gold coins worth $80 million dollars belonged to the U.S. government after the U.S. Treasury seized the coins from a family in Pennsylvania, claiming the coins were stolen. It remains to be seen if the coins the anonymous couple found were also stolen.”

The couple will use the money to pay of bills and donate to local charities. They are also loaning some of the coins for display to the American Numismatic Association for its National Money Show, which opens tomorrow in Atlanta.

Source: The AP via Mashable

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