Family shocked at worth of uncommon gold coin assortment they’ve saved for 100 years

A family has learned the rare gold coins they held onto for over 100 years weren’t worth $50,000 like they thought, but rather a staggering $2 million.

The 19th century collection, put together by historic coin collector Henry Chapman in 1899, was taken out from a Philadelphia bank vault earlier this year, where it had been safely stored for decades.

There were 51 Liberty Head and Indian Head gold dollar coins minted between 1849 and 1889, as well as eight US commemorative gold dollars made in the early 20th century.

The Philadelphia-area family who owned the set, now deemed ‘The Henry Chapman Collection of $1 Gold,’ thought it was worth $50,000 before they had it appraised. 

Luis Martinez, founder and president of Matador Rare Coins, told CoinWorld that he was working with the owners, who were ‘astonished’ when they found out the real value of the collection: $2 million.

Pictured: One of the Indian Head coins from the $2 million collection

‘When I shared the results with the owners, they were astonished and filled with disbelief. A collection they would have sold for about $50,000 could now potentially bring in well over seven figures at auction!’ Martinez said.

The coins were graded and certified by the Professional Coin Grading Service after Martinez inspected them. The grading results, he said, exceeded his expectations and reached ‘the finest known tier.’

Pictured: Luis Martinez, founder and president of Matador Rare Coins

‘When I received the coins, I carefully reviewed each example. Housed in the original envelopes from Henry Chapman’s shop in Philadelphia, a number of the coins carried exuberant eye appeal,’ he said. ‘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.’

The Professional Coin Grading Service agreed with Martinez’s assessment.

‘This historic collection boasts not only magnificent rarities and grades, but also hails from the cabinets of renowned collector Henry Chapman. Preserving the coins themselves and their history is an honor,’ said PCGS President Stephanie Sabin.

Martinez explained that the United States began making $1 gold pieces in 1849, just one year after California’s gold rush sent speculators scrambling westward to strike it rich.

‘A little smaller than a modern US dime, the gold dollars were struck over the years with three different designs,’ he said.

Pictured: A stock image of a Liberty Head Gold Dollar. These were minted from 1849 to 1856

Pictured: A stock image of a Large Head Indian Princess Gold Dollar. These were minted from 1856 to 1889 

The first kind, Liberty Head (also known as the Coronet design), were manufactured from 1849 to 1856.

Small Indian Head, also known as Indian Princess, were made from 1854 to 1856, and the Indian Princess Large Head type were minted from 1856 to 1889.

Some of the notable commemorative coins in the collection included the McKinley version of the 1903 Louisiana Purchase Exposition Gold Dollar and the Lewis and Clark Exposition Gold Dollar.

John Albanese, founder of Certified Acceptance Corp., which also looked at the coins, said the collection gave him hope.

‘I’ve been around the numismatic block a few times since the 1970s and thought we’ve seen probably everything there is to see in great collections,’ Albanese said. ‘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.’