A couple in Sierra Nevada struck gold in the most literal sense when they discovered eight cans filled with 19th-century gold coins in their backyard. Known as the Saddle Ridge Hoard, this treasure is considered the greatest buried treasure discovery in U.S. history. The value of these rare coins exceeds $11 million. On Tuesday night, the first coin from this hoard is set to go up for auction, marking the beginning of an incredible exhibit at San Francisco’s Old Mint.
The Discovery of the Saddle Ridge Hoard
In a stroke of luck, the unnamed couple stumbled upon the treasure in February of last year. While walking their dog on their property, they found rusty cans poking out of the ground. To their amazement, the cans were not filled with trash, but with over 1,400 gold coins dating back to the 19th century. Many of these coins are in mint condition, with some estimated to be worth over $1 million each.
What Makes These Coins Special?
The coins range from $5, $10, and $20 gold pieces, minted between 1847 and 1894. These were no ordinary coins—many are rare collector’s items, with some never seen in such pristine condition before. Rare coin expert David McCarthy from Kagin’s, a company specializing in early U.S. coins, has been helping the couple prepare the treasure trove for auction. McCarthy has confirmed that the total value of the hoard exceeds $11 million, a staggering amount for such a discovery.
The Role of San Francisco’s Old Mint
San Francisco’s Old Mint, an iconic historical landmark, will host a public exhibition of the Saddle Ridge Hoard, making it the largest collection of these coins to ever be displayed in one place at one time. Sixty of the coins will be on display, allowing visitors to experience a piece of American history up close. The Mint itself is in the process of being turned into a museum, and the event will support this effort. One of the coins will be auctioned during the exhibit, with the proceeds going toward the renovation of the San Francisco’s Old Mint into a full-fledged museum.
Auction Details
The first coin from the hoard to be auctioned will be sold to raise funds for the San Francisco’s Old Mint transformation. The remaining coins will be available for purchase online, allowing collectors from around the world to own a piece of the Saddle Ridge Hoard. With the coin world buzzing, many experts believe the auction will attract significant attention, given the coins’ historical value and rarity.
The Future of the San Francisco’s Old Mint
The transformation of the San Francisco’s Old Mint into a museum is a significant cultural endeavor for San Francisco. The building, which dates back to the 19th century, has a rich history of its own. It survived the 1906 earthquake and fire, serving as a symbol of resilience and the city’s economic growth. Turning it into a museum will preserve this history while providing a space to celebrate America’s numismatic past.
Table: Key Facts about the Saddle Ridge Hoard
| Aspect | Details |
|---|---|
| Discovery Date | February 2023 |
| Location | Sierra Nevada, California |
| Number of Coins | 1,400 gold coins |
| Coin Value | $5, $10, and $20 gold pieces |
| Minted Between | 1847 and 1894 |
| Estimated Value | Over $11 million |
| First Auction Date | Tuesday night at San Francisco’s Old Mint |
| Auction Proceeds | To benefit the Old Mint museum transformation effort |
| Online Sales | The rest of the coins will be sold online |
FAQ’s
1. What is the Saddle Ridge Hoard?
The Saddle Ridge Hoard is a collection of 1,400 gold coins discovered by a couple in Sierra Nevada. These coins date back to the 19th century and have an estimated value of over $11 million.
2. Where can I see the coins?
Sixty of the coins from the Saddle Ridge Hoard will be on display at San Francisco’s Old Mint during a special exhibit. The rest of the coins will be sold online.
3. How much are the coins worth?
The value of the coins ranges, with some coins worth over $1 million each. The total value of the entire hoard is estimated to exceed $11 million.
4. What is the Old Mint’s role in the auction?
The Old Mint is hosting the exhibit, showcasing the largest number of coins from the Saddle Ridge Hoard ever displayed in one place. The auction will raise funds to transform the Old Mint into a museum.
5. Can I purchase one of the coins?
Yes, one coin will be auctioned during the exhibit, and the remaining coins will be sold online to collectors around the world.