ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Family said they hid gold coins worth $50,000 in vault for 100 years. Then, an expert revealed its real value

The collection remained hidden for decades in the vault of a Philadelphia bank, unknown to collectors.
UPDATED NOV 3, 2024
A person holding gold coin in his hands | Cover Image Source: Getty Images | Atlantide Phototravel
A person holding gold coin in his hands | Cover Image Source: Getty Images | Atlantide Phototravel

A previously unreported coin collection estimated to be worth over $2 million was revealed by New York City-based Matador Rare Coins. The near complete date set of 19th-century United States $1-denomination gold coins was assembled by legendary Philadelphia coin auctioneer Henry Chapman. The collection remained hidden for decades in the vault of a Philadelphia bank, unknown to collectors.

The family that owned the collection initially expected $50,000 when they approached Matador Rare Coins, CoinWorld reported. However, they were pleasantly surprised to learn the true value as each coin was reviewed and professionally graded. 



 

The collection was labeled as 'The Henry Chapman Collection of $1 Gold' by Matador and it consists of 51 gold dollars from 1849 through 1889. The collection contained both the rare Liberty Head and Indian Princess types and eight classic U.S. commemorative gold dollars. The family is believed to have worked with Chapman to assemble the near-perfect set.

Henry Chapman was a towering figure in the history of numismatics and coin collecting. He along with his brother Samuel Chapman sold many of the early American rarities for 20th-century collectors and beyond. Thus, the collection of coins, many of which were still in the original envelopes from Chapman's store, is ever so special. 

Representative image of U.S. Indian-Head Gold Coin - 1909 - stock photo | Getty Images
An image of the US Indian-Head Gold Coin - 1909 - stock photo | Getty Images

The founder and president of Matador Rare Coins, Luiz Martinez explained to CoinWorld that the family thought their ancestors’ coins might be worth about $50,000, but they are now insured for $2 million. He added that Chapman is believed to have personally assembled the collection for a banking family.  



 

"A number of the coins carried exuberant eye appeal. 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,” he said. Now, all of the coins in the collection have been certified by the Professional Grading Service with many rated over 68 and up to 70.  Martinez expressed that the grading results were beyond his expectations as a number of coins reached the finest known tier. 

Among the highlights of the collection is an 1863 gold dollar graded PCGS MS-68 CAC,  tied for the finest of its kind to exist. Other coins that were also graded to be the finest known included an 1881 graded PCGS PR-66 Deep Cameo (only 87 such coins were struck), an 1884 graded PCGS PR-67+ Cameo CAC, and an 1887 gold dollar graded PCGS MS-67+ CAC.

Martinez explained that the US began making $1 gold pieces in 1849, following the California Gold Rush. The commemorative coins in the collection included a 1903 Louisiana Purchase McKinley graded PCGS MS-68, also tied for the finest known. 



 

The founder of CAC Grading, John Albanese, told the magazine that he was surprised to learn about the long-concealed gold dollars. “I almost fell off the chair when these coins came in. It’s nice to know there are still great coins out there. It gives us hope," he said.

This article originally appeared 1 month ago.

MORE ON MARKET REALIST
The guest was happy that she took the vase from her father's estate after falling in love with it.
3 hours ago
Rick Harrison called in a forensic document examiner because he wasn't sure Carlo Gambino would sign his own checks.
5 hours ago
The guest always believed his investment in the 1984 Howard Finster painting would pay off one day.
6 hours ago
While the player, Kristin Cook was happy to take home over $26,000, fans were disappointed.
1 day ago
The contestant, Erwin Paminiano, was stumped by the Bonus Round puzzle, but took the loss in stride.
1 day ago
The host put his arm around the player, Daryl, and said he was 'shocked' when he got the correct answer.
1 day ago
Once again, Ken Jennings proved that players can have a lot of fun on the serious game show.
2 days ago
While Harvey was expecting to hear some funny responses, the ladies blew his mind with their powerful answers.
2 days ago
The player, Clint Ingalls' disastrous choice of letters gave him no chance in the end.
3 days ago
The show's expert, Alan Fausel, was astonished by the fabulous Richard Cosway drawing.
3 days ago
The high school teacher could barely contain her excitement after cracking the Bonus Round puzzle.
3 days ago
The founders of Vade Nutrition couldn't the refuse the offer from Mark Cuban and Alex Rodriguez.
4 days ago
The creator claimed that the Costco avocado didn't feel or taste real, especially when compared to a ripe, organic one.
4 days ago
The player, Kenneth Blount-Hames, was stumped by a simple, everyday phrase in the final round.
4 days ago
The painting had been with the guest for 30 years, and she was curious about it.
5 days ago
It was hard for Harvey to digest what he was hearing from the senior players.
5 days ago
The best friends, Hanna Chung and Laura Tarpley, got tricked by just one word in the end.
6 days ago
The player, Shannon Hunt got the host excited before missing the puzzle by a few letters.
6 days ago
The founder of Hairfin managed to make it through the heckling to get a deal.
6 days ago
The player, Jeff Richardson put up a stunning performance to drive home a new car.
7 days ago