Kudos to the astute custodian of this collecting family’s wallets.
A rare collection of gold coins dating back more than a century has been valued at a staggering $2 million — about $1.9 million more than the family that owns the set expected.
The collection of 51 Liberty Head and Indian Head gold dollar coins minted between 1849 and 1889, as well as eight commemorative U.S. gold dollars struck in the early 1900s, was expected to fetch around $50,000 alone.
“I almost fell off my chair when these coins came in,” said John Albanese, founder of Certified Acceptance Corp., one of the agencies that inspected the American artifacts, now called the Henry Chapman $1 Gold Collection, named for the famous collector. based in Philadelphia, who first collected the precious set of coins a century ago.
“It’s good to know there are still great coins out there. It gives us hope”, Albanese added.
Luis Martinez, founder and president of Matador Rare Coins, referred to the collection as “a national treasure,” he recently told CoinWorld.
“When I shared the results with the owners, they were amazed and filled with disbelief. A collection that they would have sold for around $50,000 can now fetch over seven figures at auction!” said Martinez, who also had the privilege of inspecting.
The coins were officially assayed and certified by the Professional Coin Grading Service, achieving the “best known level” of gold coin grading.
“This historic collection boasts not only rarities and wonderful grades, but also comes from the cabinets of renowned collector Henry Chapman. Preserving the coins themselves and their history is an honor,” said PCGS President Stephanie Sabin.
According to Martinex, the US began producing $1 gold pieces in 1849, about a year into the California Gold Rush.
They are decorated with three different designs. Liberty head (Coronet) coins were produced from 1849 to 1856. From 1854 to 1856, an Indian head, or “Indian Princess”, was introduced, named after a larger format of the same design between 1856 and 1889.
The collection, currently held in an unidentified bank vault in Philadelphia, also includes the McKinley version of the 1903 Louisiana Purchase Exposition Gold Dollar and the Lewis and Clark Exposition Gold Dollar, CoinWorld reports.
“I was truly amazed as I examined each coin one by one. I knew then that this collection could truly be a national treasure,” said Martinez.
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