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
When a guest brought a precious Charles Rohlfs chair, expert John Sollo confessed that he was nervous to appraise it.
33 minutes ago
The guest had no idea about the item being a Tiffany product and being embedded with a rare gem.
20 hours ago
The host was baffled by the goof up that the contestant made between two words.
21 hours ago
Carey showed that he has got the weapon of sarcasm, and he isn't afraid to use it.
22 hours ago
Whatever the host was expecting, it was far away from what the contestant said on national TV.
23 hours ago
The guest was surprised to learn more about the item he had actually found on the street for free.
1 day ago
After going through everything on the board, the player left Harvey in hysterics with his answer.
1 day ago
As it so turned out, the weird-looking floor lamp was a piece from a very famous studio.
1 day ago
Most contestants were consistently getting the answers wrong, and Harvey was worried about what was next.
2 days ago
Some claimed that they got the puzzle despite English being their second language.
2 days ago
The letter was written to a columnist in response to a piece taking a swipe at Sinatra.
2 days ago
In a special episode of Celebrity Family Feud, a WWE star decided to go for the one thing Harvey is known for.
3 days ago
Luck was shining for her as she was off to a flying start and won the car with a single card.
3 days ago
Sajak had a witty reply for the contestant who was fanboying over White during the game.
5 days ago
The model said that considering White's age she would also take the offer from Sony.
5 days ago
Sheila won a brand new entertainment unit, complete with an HD plasma TV and mini bar from Howard Miller.
6 days ago
The appraiser disclosed that Yoakum began painting in the 1960s and he created one unique piece of art every single day.
6 days ago
The entrepreneur also managed to get the sharks to taste the vegan alternative meant for pets.
7 days ago
Throughout the game Monica tried to calm her nerves by placing her right hand over her chest.
7 days ago
Harvey later realized that the contestant had a crush on him and they had a moment.
7 days ago