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Saddle Ridge Gold Coins Benefit Non-Profit
The California couple who found the hoard of coins on their property, now known as the Saddle Ridge Hoard, have decided to use the first piece of their newfound wealth to help save a National landmark. The landmark in question is the Mint that struck the majority of the gold coins found in the hoard.
The couple learned that a San Francisco non-profit, the San Francisco Museum and Historical Society was attempting to raise money to renovate the second San Francisco Mint and to develop an on-site museum. Their fund raising efforts to date have fallen short of amount needed to start the renovation project.
The family decided to allow the SFMHS to auction an 1874-S $20 Double Eagle from the Saddle Ridge Hoard at the Mint during a fundraiser held on May 27, 2014. The $20 gold piece, struck during the Mintís first year of production, was to be the first coin from the hoard to be sold and it was the only coins from the stash that was sold at auction.
The couple also agreed to loan 60 coins from the Saddle Ridge hoard to be on display for the duration of the fundraiser. the group of coins was to include an 1866-S No Motto $20 gold piece valued at over $1 million. This is the largest number of coins from the hoard that will be on public display.
Don Kagin of Kaginís Coins applauded the couple for making such a generous donation as the first act of selling off their find. The cache of 1,427 U.S. gold coins contained in eight buried cans consists of four $5 gold piece, 50 $10 gold pieces, and 1,373 $20 Double Eagles. The gold coins went on sale live on Kagins.com and Amazon.com after the auction was held.
Donating this gold coin to raise funds to restore a historical U.S. Mint is no doubt a good gesture. It is refreshing to see somebody donate money to such a worthy cause, instead of wasting it on a college football program or some other sports nonsense.. There are no doubt many great causes that could use a good boost like this.
As an example, I live in a college town that houses the
main campus for the stateís main university. The college library needs many improvements that of course cost a lot of money. the state has cut back on what they give the university for building improvements.
Over any given period of time the news is abuzz over some generous donation to the collegeís football program. Rarely does anyone give money to something like the library for needed improvements. Of course the library doesnít make much money for the college townís businessesí like a football weekend in the Fall does.
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