Kudos to the shrewd keeper of this collecting family’s purse strings.
A rare collection of gold coins dating back over a century has been appraised at a staggering $2 million — which is about $1.9 million more than the family who owns the set anticipated.
The lineup of 51 Liberty Head and Indian Head gold dollar coins, minted between 1849 and 1889, as well as eight US commemorative gold dollars pressed in the early 1900s, were expected to fetch only about $50,000.
“I almost fell off the chair when these coins came in,” said John Albanese, founder of Certified Acceptance Corp., one of the agencies who inspected the American artifacts, now dubbed “The Henry Chapman Collection of $1 Gold,” named for the famed Philadelphia-based collector who first assembled the prized set of coins a century ago.
“It’s nice 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 astonished and filled with disbelief. A collection they would have sold for about $50,000 could now potentially bring in well over seven figures at auction!” said Martinez, who also had the privilege of inspection.
The coins were officially investigated and certified by the Professional Coin Grading Service, reaching the “finest known tier” of gold coin grading.
“This historic collection boasts not only magnificent rarities and grades, but also hails 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 minting $1 gold pieces in 1849, about a year into California’s gold rush.
They are emblazoned with three different designs. Liberty head (Coronet) coins were manufactured from 1849 to 1856. From 1854 to 1856, an Indian head, or “Indian Princess,” design was introduced, called by a larger format of the same design between 1856 to 1889.
The collection, currently held at an unidentified Philadelphia bank vault, also includes the McKinley version of the 1903 Louisiana Purchase Exposition Gold Dollar and the Lewis and Clark Exposition Gold Dollar, per CoinWorld’s report.
“I was truly in awe as I reviewed each coin one at a time. I knew then that this collection could truly be a national treasure,” said Martinez.
