$10 Million in Gold Coins: Why The Saddle Ridge Hoard Is Worth So Much

$10 million gold coins found
A California couple hit the jackpot when they found eight old cans filled with gold coins under a tree on their property while walking their dog. Being called “The Saddle Ridge Hoard,” the couple found 1,427 coins dated between 1847 and 1894 which have a face value of $27,980. The gold content of the coins would put the find into the 6 figures, but the coins are worth much more than even their gold content. The coins are estimated to be worth at least $10 million. Here are a few of the reasons why they are worth so much.


When it comes to any type of collectible, coins included, condition is of huge importance. The better condition the collectible, the more that it’ll be worth. One of the main reasons for the high value of these coins is the condition in which they were found. Almost one-third of them were found in pristine, uncirculated condition. Even more astonishing, thirteen of the coins have been found to be either the finest examples of the coin known to exist, or tied with another coin for that rating. Basically, more than a dozen of the coins are the best known example of that coin to be in existence. Since so many of the coins are in such superior condition to the other examples, they should fetch high premiums on the collectors’ market.


In addition to condition, the rarity of the coins plays an important role in the value of the coin. Many of these coins are quite rare because of the early mint dates they have. This includes a $20 1866-S No Motto Double Eagle gold coin with an estimated value of $1 million all by itself. Most of the coins from this era were long ago melted down for their gold content meaning that there just aren’t a lot of them around. Since many of them are scarce, when combined with their pristine condition, they should get an even higher premium than usual.


It really doesn’t matter the condition or rarity of the the collectible if there isn’t much of a market. This is not the case with gold coins. There is a huge collectible market for these with a large number of serious collectors that are willing to pay top dollar for rare gold coins in pristine condition. There has been a resurgence of gold coin collecting that will make these coins even more sought after.


There is a reason that this story is being publicized even though the couple who found the coins don’t want to be known. It’s a great story, and a great story always brings more value to the coins involved in the story. There is a mystery as to why the coins were where they were, and mystery as to why they were put there. It doesn’t hurt that this gold cache is believed to be the largest gold coin hoard ever discovered in the US. People like to own a part of a good story, and that increases the value of all the coins which are a part of that.

The coins would be worth much less if they only had one of the characteristics listed above. Put them all together, and all of a sudden they’re worth millions. The reasons these gold coins are worth so much is important for any collector to remember, as they can be applied to many other collectibles. The big three are condition, rarity and market. A good story is an added bonus. The couple was not only lucky in finding the gold coins, but in finding rare examples of them in great condition within a hot market that came with an interesting story.

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