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Kagin's removes Saddle Ridge hoard mega-lot from Amazon.com to consider offers for individual coins

Offered at $2.75 million, lot includes PCGS MS-62 1866-S Coronet, No Motto $20 double eagle
By , Coin World
Published : 06/10/14
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The single lot of the top 14 coins from the Saddle Ridge hoard of United States gold coins offered on Amazon.com for $2.75 million was removed from the website June 9 as Kagin's officials consider offers already presented for individual coins from the group.

The lot includes an 1866-S Coronet, No Motto gold $20 double eagle graded Mint State 62 by Professional Coin Grading Service that some numismatic experts believe is alone worth $1 million.

David McCarthy, senior numismatist and researcher for Kagin's, the Tiburon, Calif., numismatic firm contracted by the hoard's owners to market the coins, said June 10 that Kagin's has received a number of legitimate offers for some of the coins in the 14-coin lot. McCarthy would not disclose whether the 1866-S Coronet, No Motto double eagle is one of those coins.

The Saddle Ridge Hoard coins are being offered through Amazon.com and through Kagins.com. While the coins offered by Kagin's are illustrated on Kagins.com, order placement must be made by telephone at 888-852-4467. The coins the two marketing portals are offering are different.

The saga of the couple discovering the cache of 1,427 U.S gold coins buried in eight metal canisters on their northern California property in February 2013 while walking their dog has been reported by more than 1 million websites and news agencies worldwide, according to Kagin's.

Before sales of the coins began, the hoard comprised four $5 half eagles, 50 $10 eagles, and 1,373 $20 double eagles. The coins found range in date from 1847 through 1894.

While most of the coins were struck at the first and second San Francisco Mints and bear the S Mint mark, the hoard also held examples struck at the Carson City Mint, Dahlonega Mint, and Philadelphia Mint.

As of June 10, McCarthy said sales, without reconciliation between the two sales outlets, are estimated to total between $6.25 million and $6.5 million, with more than half the coins reported sold.

The couple who discovered the hoard has retained an undisclosed number of the coins found, according to McCarthy.

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