A man in Kentucky struck gold when he found a hoard of coins dating back to the American Civil War while digging at his farm.
The coins, which numbered 700 in total, were certified by the Numismatic Guaranty Company (NGC) this month, and experts have valued the discovery at over $2 million. The NGC is a coin certification organization based in Florida.
According to the NGC, the American Civil War was a time of great turmoil for Kentucky as it sat between the Union states in the north and the Confederate states in the south. "The Great Kentucky Hoard may have been a result of this conflict, with the coins lost for over 150 years, until they were unearthed in a cornfield," it said in a press release.
"The discovery is exciting because it is incredibly unusual to find a group of rare coins like this buried in the ground, period," Andy Salzberg, executive vice president of the Certified Collectibles Group, which includes the NGC, told Newsweek.
"But to also find a couple of varieties that we had never seen before, a few rarities that we don't often see in such amazingly well-preserved condition, and the overall extent of the hoard—it is hard to fathom finding something like this by chance."
The exact location and identity of the finder remain confidential.
Jeff Garrett, a rare coin dealer and leading expert in U.S. coinage, was contacted to handle the hoard. "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," he said in a statement. "The opportunity to handle the Great Kentucky Hoard is one of the highlights of my career."
This sentiment was echoed by Salzberg, who described the finding as "one of the most significant discoveries of coins found in the ground within the United States within the last 50 years."
Among the collection were 18 1863 $20 Gold Liberty coins, one of the rarest dates from the $20 Liberty series. Just one of these 19th century coins would usually sell for around six figures at auction. According to Salzberg, the total value of the coins is "more than $2 million."
"It is never common to find a group of coins like this in any area," Salzberg said. "And then to have also discovered varieties along with other Civil War-era $20 gold pieces, one of which is the highest grade that coin has ever achieved, it's pretty much unheard of."
The coins are now available to collectors through GovMint, one of the largest rare coin retailers in the U.S. "We are deeply honored and tremendously excited to have been chosen as the exclusive provider for the public sale of the remarkable coins that are part of the Great Kentucky Hoard," Bill Gale, GovMint founder and president, said in a statement.
"This extraordinary opportunity allows us to share these historic coins with collectors and enthusiasts, ensuring their preservation and appreciation for generations to come."
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