Kudos to the astute caretaker of this family collectible.
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 estimate by the family that owns the set.
A series of 51 Liberty Head and Indian Head gold dollar coins minted between 1849 and 1889, as well as eight U.S. commemorative gold dollars pressed in the early 1900s, were expected to fetch just under $50,000.
“I almost fell out of my chair when these coins arrived,” said John Albanese, founder of the Certified Acceptance Corp., one of the agencies that inspects American artifacts, now known as “The Henry Chapman Collection of $1 Gold.” Renowned Philadelphia-based collector who first assembled the priceless set of coins over a century ago.
“Good to know there are still great coins out there. It gives us hope,” Albanese said.
Luis Martínez, founder and president of Matador Rare Coins, recently called the collection “a national treasure.” told Coinworld,
“When I shared the results with the owners, they were astonished and in disbelief. A collection that would have sold for around $50,000 can now potentially fetch more than seven figures at auction!” said Martínez, who also had inspection privileges.
The coins were officially examined and certified by a professional coin grading service, reaching the “best known level” of gold coin grading.
“This historic collection boasts not only spectacular rarities and grades, but also finds from the cabinets of renowned collector Henry Chapman. Stephanie Sabin, president of PCGS, said it is an honor to preserve the coins and their history.
According to Martinex, the US began minting $1 gold pieces in 1849, about a year after the California gold rush.
These are decorated with three different designs. Liberty Head (Coronet) coins were minted from 1849 to 1856. From 1854 to 1856, an Indian head, or “Indian Princess” design was introduced, so called by a larger format of the same design from 1856 to 1889.
The collection, currently housed in an undisclosed Philadelphia bank vault, also includes the 1903 Louisiana Purchase Exposition gold dollar and the McKinley version of the Lewis and Clark Exposition gold dollar, Coinworld reports.
“I was really amazed when I reviewed each coin one by one. I knew then that this collection could truly be a national treasure,” said Martínez.
