The Clinton Herald, Clinton, Iowa

National News

February 26, 2014

Couple stumbles upon $10 million in rare coins

LOS ANGELES — A Northern California couple out walking their dog on their property stumbled across a modern-day bonanza: $10 million in rare, mint-condition gold coins buried in the shadow of an old tree.

Nearly all of the 1,427 coins, dating from 1847 to 1894, are in uncirculated, mint condition, said David Hall, co-founder of Professional Coin Grading Service of Santa Ana, which recently authenticated them. Although the face value of the gold pieces only adds up to more than $28,000, some of them are so rare that coin experts say they could fetch nearly $1 million apiece.

"I don't like to say once-in-a-lifetime for anything, but you don't get an opportunity to handle this kind of material, a treasure like this, ever," said veteran numismatist Don Kagin, who is representing the finders. "It's like they found the pot of gold at the end of the rainbow."

Kagin, whose family has been in the rare-coin business for 81 years, would say little about the couple other than that they are husband and wife, are middle-aged and have lived for several years on the rural property in California's Gold Country, where the coins were found. They have no idea who put them there, he said.

The pair are choosing to remain anonymous, Kagin said, in part to avoid a renewed gold rush to their property by modern-day prospectors armed with metal detectors.

They also don't want to be treated any differently, said David McCarthy, chief numismatist for Kagin Inc. of Tiburon.

"Their concern was this would change the way everyone else would look at them, and they're pretty happy with the lifestyle they have today," he said.

They plan to put most of the coins up for sale through Amazon while holding onto a few keepsakes. They'll use the money to pay off bills and quietly donate to local charities, Kagin said.

Text Only
National News
  • Medicare hospital fund to last 4 years longer

    Medicare's finances are looking brighter, the government said Monday. The program's giant hospital trust fund won't be exhausted until 2030 — four years later than last year's estimate.

    July 28, 2014

  • After 6 weeks, finally a deal on VA health care

    After more than six weeks of sometimes testy talks, House and Senate negotiators have agreed on a compromise plan to fix a veterans health program scandalized by long patient wait times and falsified records covering up delays.

    July 28, 2014

  • Brother sues W.Va. senator over business loan

    U.S. Sen. Joe Manchin III faces a $1.7 million civil suit filed by a brother over a lifeline to save a family carpet business.

    July 25, 2014

  • Official: Hospital gunman intended to kill others

    A psychiatric patient ranted about a hospital gun ban before opening fire at the suburban medical complex, killing his caseworker and grazing his psychiatrist before the doctor pulled out his own weapon and fired back, authorities said Friday.

    July 25, 2014

  • 10 things to know for today

    Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:

     

    July 25, 2014

  • Illinois woman, 47, dies rescuing boy in Wisc. lake ARLINGTON HEIGHTS, Ill. (AP) — Friends and family are mourning the death of an Illinois woman who drowned while rescuing a 9-year-old boy in a Wisconsin lake.The (Arlington Heights) Daily Herald reports 47-year-old Karen Wessel of Arlington Heights d

    July 25, 2014

  • Taiwan plane crash photo Air travel a leap of faith for passengers WASHINGTON (AP) — Airline travel requires passengers to make a leap of faith, entrusting their lives to pilots, airlines, air traffic controllers and others who regulate air travel.Even after a week of multiple tragedies in worldwide aviation, “There

    July 25, 2014 1 Photo

  • Arizona's prolonged lethal injection is fourth in U.S. this year

    Arizona's execution of double-murderer Joseph Wood marked the fourth time this year that a state failed to dispatch a convict efficiently, according to the Constitution Project, a bipartisan legal group.3

    July 24, 2014

  • 10 things to know for today

    Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:

     

    July 24, 2014

  • U.S. economy, though sluggish, may now be sturdier WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged.That conclusion, one held by a growing number of economists, might surprise many people. After all, in the fi

    July 24, 2014

AP Video
Facebook