One farmer in Kentucky has just realized why pirates used to make such a big deal out of treasure hunting after stumbling upon 700 gold coins in a cornfield. The discovery changed his life forever and supported a long-debated theory about Southerners during the Civil War.
The Value of the Gold Coins
The coins the farmer discovered were worth different amounts. Some were $1 coins, while others were worth $10. The highest value of any of the coins was $20. These are all gold Indian and gold Liberty coins, but there were also some incredibly rare Liberty Double Eagle coins, making it a very special find.
How Much Is the Find Worth?
After valuation, it was discovered that the current-day value of the coins was well over $1 million. According to Andrew Salzberg, executive vice president of the Certified Collectibles Group, the coins could be closer to $2 million in worth. He called it one of the most important coin discoveries within the last five decades. The coins were valued based on the number found and their quality. They were found mostly untarnished, which is why they are worth so much more.
An Unheard Of Condition
In his statement regarding the coins, Salzberg expressed shock at the state they were found in, considering their age. According to him, some are of the finest known grades, the highest that has been seen of a coin to date. He claims that the condition the farmer found them in is simply “unheard of.”
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A Slice of History
The coins are worth a fortune, but they also have history buffs excited because they represent a slice of history thanks to their connection to the Civil War. Some believe that they are the coins Kentucky buried to declare its neutrality during the war. The state borders both northern and southern states and initially tried not to take sides, and the buried coins were to be a sign of that.
Kentucky Could Not Maintain Neutrality
It is true that Kentucky sat on the fence during the start of the Civil War. However, they were unable to stay that way for long because one Confederate general marched his troops into the state, violating any neutrality agreements that were in place. It resulted in Kentucky taking the Union’s side.
No Guarantee of the Coins’ Origins
The coins were dated between 1840 and 1863, the latter of which was during the Civil War. The timeframe gives credibility to the theory that the coins were buried during the Civil War. However, there are no guarantees, and they could have been buried for a different reason. Still, the Civil War theory is currently the most plausible explanation, and people are running with it.
The Gold Coins Are Authentic
To ensure that what he found was not just a fake or nothing special, the lucky farmer enlisted the help of Jeff Garrett and the Numismatic Guaranty Company (NGC) for authentication. They got rid of any potential contaminants on the surface and used something to help preserve them. By the time they were done, they were all convinced that the coins were rare and authentic.
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Importance of the Find
Garrett has said that the discovery is very important as it represents a “virtual time capsule” and includes coins from the elusive Dahlonega Mint. According to Garrett, finding even one mint-condition 1863 double eagle is considered a great discovery, but finding a roll of superb samples is a once-in-a-lifetime event.
An Exciting Time For Collectors
According to Salzberg, executive vice president of the Certified Collectibles Group, the coins have been buried for about 150 years. Their discovery now means that collectors and other history buffs can observe the history once lost to the world.
A Liberty Coin’s Value
Thanks to their condition and genuineness, the coins could be sold for millions. In the past, one such coin, the rare 1863-P $20 1-ounce Liberty coin, was sold at auction for a six-figure sum. Only a handful of them exist, which is why they are so sought after by collectors and investors who are willing to pay a lot to have them in their personal collections.
There Are 18 Liberty Coins In the Farmer’s Find
The coins the Kentucky farmer found have been dubbed the Great Kentucky Hoard. It contains 18 of these rare Liberty coins, which circulated between 1850 and 1907 and were worth $20. The recently discovered coins are even rarer because they do not have the “In God We Trust” inscription, which was added in 1866 after the Civil War ended.
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The Discovery Went Viral
The story of the Kentucky farmer’s find was reposted via an X, formerly Twitter, by an account called “Historic Vids” in January. It quickly went viral, garnering over 12 million views and more than 65,000 likes. The post featured a short video examining the coins spread out over a black table, and many users commented on how lucky the farmer was to have found some elusive Civil War gold.
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