Family stunned at value of rare gold coin collection they’ve kept for 100 years

A family has discovered that the rare gold coins they held onto for more than 100 years were not worth the $50,000 they thought, but rather a staggering $2 million.

The 19th-century collection, assembled by historic coin collector Henry Chapman in 1899, was recovered earlier this year from a bank vault in Philadelphia, 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 commemorative U.S. gold dollars made in the early 20th century.

The Philadelphia-area family who owned the set, now considered “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 worked with the owners, who were “astonished” to discover the true value of the collection: $2 million.

‘When I shared the results with the owners, they were amazed and in disbelief. A collection that they would have sold for around $50,000 could now potentially fetch well over seven figures at auction!” said Martinez.

The coins were graded and certified by the Professional Coin Grading Service after Martinez inspected them. The assessment results, he said, exceeded his expectations and reached “the best known level.”

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

‘When I received the coins, I carefully examined each specimen. “Some of the coins, packaged in the original envelopes from Henry Chapman’s store in Philadelphia, had a lavish appeal,” he said. ‘I was really impressed when I looked at each coin one by one. I knew then that this collection truly could be a national treasure.”

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

‘This historic collection not only features beautiful rarities and qualities, but also comes from the cabinets of the famous collector Henry Chapman. It is an honor to preserve the coins themselves and their history,” said PCGS President Stephanie Sabin.

Martinez explained that the United States began making $1 gold pieces in 1849, just a year after the California gold rush sent speculators west to strike it rich.

“The gold dollars were slightly smaller than a modern American dime and were minted with three different designs over the years,” he said.

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

Pictured: A stock photo of an Indian princess with a big head, Gold Dollar. These were minted from 1856 to 1889

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

Small Indian Head, also known as Indian Princess, was made from 1854 to 1856, and the Indian Princess Large Head type was struck 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., who also looked at the coins, said the collection gave him hope.

“I’ve been to the numismatic block a few times since the 1970s and thought we’d probably seen everything there was to see in great collections,” Albanese said. ‘I almost fell off my chair when these coins arrived. It’s nice to know that great coins still exist. It gives us hope.’