The incredible find was literally worth its weight in gold (stock image) -Credit:Getty Images
(Getty Images)
One parent has discovered that digging through forgotten boxes gathering dust for years can yield remarkable rewards after finding out an heirloom from their grandmother is genuinely worth its weight in gold. Reddit users were stunned when the person shared two photos of a mysterious treasure they’d uncovered among their late grandmother’s belongings.
Alongside two pictures of an unusual gold coin, they explained: “My grandmother passed away some years ago and left this pendant coin for my daughter. We got this out of the safe deposit box a few days ago and my teen would like to wear it. I think it should likely be appraised and I know nothing about coins. Any guidance would be appreciated.”
The photos revealed the gold coin, mounted in a bezel featuring a wave design on the interior and a scroll pattern around the outer rim, with a loop at the top for attaching a chain. One face shows an eagle soaring above a sunrise, inscribed with the words “UNITED STATES OF AMERICA TWENTY DOLLARS”.
The reverse displays Lady Liberty clutching a torch in her right hand and an olive branch in her left, with the sun rising behind her and the word “LIBERTY” positioned above her head. It also bears the year 1908 and a circle of stars.
Coin enthusiasts on Reddit quickly recognized the piece – and delivered promising news regarding its worth. One commented: “I wouldn’t let my teen wear $4,900 worth of gold (not counting the bezel and chain).”
Another commenter noted: “It’s worth almost 5k in gold weight if real. My teen isn’t wearing it lol.”
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The piece was identified as a 1908 Saint-Gauden’s Double Eagle coin. Rare coin specialist M J Hughes Coins explains it contains 90 per cent gold, with the balance made up of copper alloy. According to rare coin experts NGC Coin, it is worth $4,980.
These coins circulated as legal tender in the United States until 1933, when the nation abandoned the gold standard following the Great Depression, reports the Mirror.
According to M J Hughes Coins: “The Saint-Gaudens is named after its legendary designer, the American sculptor Augustus Saint-Gaudens (1847-1907). The President himself, Theodore Roosevelt, a big fan of Saint-Gaudens, wanted to make the United States currency some of the most beautiful in the world. He got his wish.”
Reddit commenters offered diverse opinions on how to handle the discovery. One suggested: “Unless you need the money I’d just hang on to it and let her use it for special occasions. This is the kind of item I wouldn’t consider buying for a kid in a 1,000 years, just way too expensive.
“But it’s also a family item from your grandmother to your daughter which means its also meant to be used, just not something meant to be used on a daily basis, but something nice for proms, dances, or other special events. As a gift for her, denying her ever wearing it would be a serious disservice to the giver and the receiver, just help her understand the gravity of the gift, and hold onto it for her.
Another commenter advised: “Let her have it when she gets married. This is much to valuable both monetarily and sentimentally. Teenagers are not known for making good decisions or being responsible when it comes to valuables.”
In an update to the initial post, the parent expressed gratitude: “I just wanted to add a huge thank you to everyone who has responded. When we took out the pouches of coins (and a couple of Canadian paper bills) I was absolutely lost. “They continued: “I wasn’t kidding when I said I know nothing about coins and I’ve learned so much today! I appreciate all the comments.”