Coin collectors rejoiced after gold was struck in a Kentucky cornfield last month, literally.
More than 800 gold Civil War era coins were discovered after being buried more than 150 years ago.
Part of what makes this collection such a rare find is that there weren’t too many gold coins manufactured during the Civil War, Louisville Numismatic Exchange President Byrd Saylor told USA Today.
It wasn’t unusual for people to bury their money during times of war to keep it safe but what might make these coins sell for a premium is all the mystery surrounding their discovery, Saylor said.
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What’s Kentucky got to do with this?
Kentucky declared its neutrality at the beginning of the Civil War as tensions ran high between northern and southern states.
Despite the declaration of neutrality, many families in the state were pitted against one another.
A rare coin dealer was called into inspect the coins upon discovery.
“The importance of this discovery cannot be overstated, as the stunning number of over 700 gold dollars represents a virtual time capsule of Civil War-era coinage, including coins from the elusive Dahlonega Mint. Finding one Mint condition 1863 Double Eagle would be an important numismatic event. Finding nearly a roll of superb examples is hard to comprehend,” Jeff Garrett wrote in Numismatic Guaranty Company’s press announcement.
What is the Great Kentucky Hoard?
The coin collection dubbed the Great Kentucky Hoard consists of U.S. gold dollars and gold Liberty Coins from 1840-1863, with gold dollars making up about 95% of the collection, according to GovMint.com and the Numismatic Guaranty Company.
Each coin that is part of the collection was struck in 90% gold at the Philadelphia, Denver, San Francisco, New Orleans or Carson City mints.
- U.S. Gold Dollars from 1854-1862.
- $10 Gold Liberty’s (20) from 1840-1862
- $20 Gold Liberty’s (8) from 1857 and 1862.
- $20 Gold Liberty’s (18) from 1863
- A small number of silver coins
Finding gold in the ground is “the most insane thing ever”
In a video posted by GovMint Coins, you see a man digging up the coins that are caked in dirt, noting how unreal the find was.
The coins were sent to Numismatic Guaranty Company for certification and grading. After the dirt was removed, coin experts found that most of the collection was in pristine condition, receiving an “extremely fine to mint state” designation.
The coins that were in extremely fine condition were likely circulated lightly around before being buried, while some of the other coins could have been picked up at a bank and never used.
While the details of the finder and location will remain confidential, they coins are available for purchase online at GovMint.com or over the phone at 888-870-6339.