A PREVIOUSLY unreported collection of gold coins has been revealed after spending more than a century in a Philadelphia bank vault.
It is now known as the Henry Chapman $1 Gold Collection and has been safely 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 between 1849 and 1889 and eight U.S. commemorative gold dollars minted in the early 20th century.
The owners, who wished to remain anonymous, thought the stash of coins was worth about $50,000, but were shocked to discover it was insured for $2 million, reports. World of Currencies.
“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.
“The set includes several coins among the best known examples of the genre today.”
Martinez “carefully reviewed” each coin, many of which were still in their original envelopes from Chapman’s store.
“Several coins had an exuberant visual appeal. I was truly amazed as I reviewed each coin one at a time. I knew then that this collection could truly be a national treasure,” he added.
All coins have been certified by the Professional Coin Grading Service and many have been graded at 68 or older, with the highest score being 70.
“The grading results were beyond my expectations, with some coins reaching the best known grade,” said Martinez.
“When I shared the results with the owners, they were surprised and filled with disbelief. A collection that they would have sold for around $50,000 could now fetch well over seven figures at auction!”
There were some highlights in the collection that shocked experts.
One of the highlights is an 1863 Indian Head gold dollar, valued at 68 out of 70.
An 1881 Indian Head dollar tied for the best known examples of only 87 known coins.
SILVER LINING
Fellow coin collector Mark kept a rare nickel for a decade before deciding to pawn it.
He brought the 1867 Proof-Shield nickel to the Gold & Silver pawn shop, which is featured on the show Pawn Stars.
Store owner and employee Rick Harrison was immediately impressed with the coin.
Mark said this particular nickel was “the best ever reviewed” and that it had “huge visual appeal.”
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To ensure this was true, Harrison hired Dave, a coin expert, to help price the coin.
“It’s on the list of everyone who wants something like the hundred largest American coins,” he told Rick.
Dave finally said the value of the coin was between $63,000 and $80,000.
This was not good news for Mark, who had hoped to sell the coin for $90,000.
Rick offered him $50,000, but Mark decided to wait for someone willing to pay the nickel more.
Coin collectors also sometimes collect dollar bills, such as a $2 bill selling for $18,000.
Plus, here’s how to spot a normal-looking coin that’s actually worth $250,000.
This story originally appeared on The-sun.com read the full story
