Early sales of Saddle Ridge hoard of United States gold coins top $4.1 million mark

Kagin’s cites strong demand for hoard’s gold coins
By , Coin World
Published : 05/29/14
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Nearly half of the 1,427 coins in the Saddle Ridge hoard of United States gold coins were reported sold as of 11 a.m. Eastern Time May 29 at fixed prices totaling $4.1 million.

The coins went on public sale at midnight Eastern Time May 27 via Amazon.com and Kagins.com.

David McCarthy, a senior numismatist and researcher for Kagin’s — the Tiburon, Calif., numismatic firm contracted to market the hoard — said demand has been strong for the coins in the hoard regardless of their condition.

The hoard is being marketed through Kagin’s as well as Amazon.com. Different coins are being offered through Kagin’s and Amazon.

McCarthy said Kagin’s believed — at least, for 10 minutes — that the highest-priced lot in the sale had been sold May 28. A single Amazon lot, offered at $2.75 million, contains 14 gold $20 double eagles from the Saddle Ridge Hoard certified by Professional Coin Grading Service as the finest known or tied for finest known. Among the 14 coins is the PCGS Mint State 62 1866-S Coronet, No Motto double eagle, alone valued at $1 million 

McCarthy said the lot disappeared from the Amazon website for 10 minutes. 

Coins offered for sale disappear from the Amazon website when a sale is made. On Kagins.com, coins are illustrated, but buyers have to telephone the firm to consummate a sale. Lots are then removed from the Kagin’s website after a sale is confirmed.

McCarthy said it wasn’t known if the buy option on the Amazon website for the 14-coin lot was mistakenly activated. The lot shortly returned to its place on Amazon and was still available for sale as of noon Eastern Time May 29.

Background of the hoard

The Saddle Ridge hoard comprises 1,427 gold coins — four $5 half eagles, 50 $10 eagles and 1,373 $20 double eagles discovered in eight metal cans in February 2013 by a couple walking on their northern California property.

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