In less than 15 hours, nearly half of the 1,427 coins comprising the
Saddle Ridge Hoard of United States gold coins were reported sold.
The coins went on sale at midnight Eastern Time May 27 on Amazon.com online and through Kagin's, the
Tiburon, Calif., numismatic firm contracted to market the coins.
Kagin's is marketing the coins on behalf of the couple that
discovered the coins in February 2013 packed in eight metal cans that
were buried on their northern California property. The couple has
retained an undisclosed number of the hoard coins for themselves,
David McCarthy of Kagin's said.
McCarthy, senior numismatist and researcher for Kagin's, said at
mid-day May 28 that the firm was still trying to reconcile the total
dollar value of sales through both purchase venues. Both venues were
offering different coins from the hoard.
McCarthy said earlier in the morning May 28 that during the first
three hours of sales, Amazon and Kagin's combined had sold nearly 300
coins at retail prices in excess of $2.5 million.
Initial sales were concentrated primarily on the better quality
coins priced above $5,000 and targeted toward the numismatic
community. McCarthy said. Once word spread to the public about the
availability of the coins, sales encompassed coins in all price
ranges, he said.
Each coin being offered is encapsulated by Professional Coin Grading
Service with a certification label tying provenance to the hoard. The
encapsulated coins are then secured inside a lightly stained wooden
box branded with a Saddle Ridge logo designed specifically for
marketing the coins. Also included in each box is a color-illustrated
catalog detailing the hoard find.