Our family hid gold coins in a vault for 100 years – we thought they’d be worth $50k but an expert said more like $2M
A PREVIOUSLY unreported collection of gold coins was revealed after it spent over a century in a Philadelphia bank vault.
It is now known as The Henry Chapman Collection of $1 Gold and was securely stored by a local family for generations.
Chapman, a legendary Philadelphia coin dealer and auctioneer, assembled the collection and gave it to the family for safekeeping.
The lot included 51 Coronet and Indian Head gold dollar coins from between 1849 and 1889 and eight US commemorative gold dollars struck in the early 1900s.
The owners, who wished to remain anonymous, thought the stash of coins was worth about $50,000 but were shocked to find out it was insured for $2 million, reports Coin World.
“Chapman personally began assembling this collection for a banking family in 1899, and the coins have remained in the family’s possession continuously for generations," Luis Martinez, founder and president of Matador Rare Coins, told the outlet.
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"The set includes several coins among the finest known examples of their kind today."
Martinez "carefully reviewed" each coin, many of which were still in the original envelopes from Chapman's store.
"A number of the coins carried exuberant eye appeal. I was truly in awe as I reviewed each coin one at a time. I knew then that this collection could truly be a national treasure,” he added.
All of the coins have been certified by the Professional Coin Grading Service, and many were rated 68 and above, with the highest score being 70.
“The grading results were beyond my expectations, with a number of the coins reaching the finest known tier,” said Martinez.
“When I shared the results with the owners, they were astonished and filled with disbelief. A collection they would have sold for about $50,000 could now potentially bring in well over seven figures at auction!”
There were a few standouts in the collection that shocked experts.
One of the highlights is an 1863 Indian Head gold dollar, rated 68 out of 70.
An 1881 Indian Head dollar tied for the finest known examples of only 87 known coins.
SILVER LINING
Fellow coin collector Mark held on to a rare nickel for a decade before deciding to pawn it.
He brought in the 1867 Proof-Shield nickel to the Gold & Silver Pawn shop, which is prominently featured on the show Pawn Stars.
Shop owner and employee Rick Harrison was immediately impressed with the coin.
Mark said this specific nickel was "the finest one ever graded" and that it had "huge eye appeal."
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You may be holding something valuable in your wallet. Check out these articles on rare coins to see if you may have a treasure hidden deep in your pockets.
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To ensure that was true, Harrison brought in Dave, a coin expert, to help price the coin.
"It's kind of on everyone's checklist who wants something like the hundred greatest American coins," he told Rick.
Dave ultimately said the coin's value was between $63,000 and $80,000.
This wasn't great news for Mark, who hoped to sell the coin for $90,000.
Rick offered him $50,000, but Mark decided to hold out for someone willing to pay more for the nickel.
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Coin collectors also sometimes collect dollar bills, like a $2 bill that sold for $18,000.
Plus, see how to spot a regular-looking coin that is actually worth $250,000.