Saddle Ridge Hoard: America’s Greatest Buried Treasure Discovery

Discovery in the Sierra Nevada Foothills

In February 2013, a California couple—identified only as John and Mary—were walking their dog on their rural property when they noticed a rusted can protruding from the ground. Upon digging it out, they discovered it was filled with gold coins. Further excavation revealed seven more cans, all packed with pristine U.S. gold coins dating from 1847 to 1894.

The couple kept the discovery secret for months, consulting legal and numismatic experts before going public. The hoard was named after a geographical feature on their property: Saddle Ridge.

Contents of the Hoard

The Saddle Ridge Hoard contained 1,427 coins, primarily $20 Double Eagles, along with $10 Eagles and $5 Half Eagles. The coins were minted in San Francisco, Philadelphia, and Carson City, with the majority originating from the San Francisco Mint.

Coin Breakdown

• 1,373 $20 Liberty Head Double Eagles
• 50 $10 Liberty Head Eagles
• 4 $5 Liberty Head Half Eagles

Many of the coins were in uncirculated or near-mint condition, suggesting they were never used in commerce. Some were so rare and well-preserved that they were previously unknown to collectors.

To explore the history and value of these coins, visit our dedicated page on the Gold Double Eagle.

Historical Context: Why Were These Coins Buried?

The late 19th century was a time of economic instability in the United States. Financial panics in 1873 and 1893 led many Americans to distrust banks and paper currency. It was not uncommon for individuals to bury their wealth as a form of self-protection.

Some speculate the hoard may have belonged to a wealthy landowner or merchant who lost faith in financial institutions. Others theorize it could be linked to a forgotten bank robbery or stagecoach heist. However, no definitive origin has been proven, and the coins were never reported stolen.

Authentication and Grading

After the discovery, the couple contacted Kagin’s Inc., a rare coin dealer, and the coins were authenticated by the Professional Coin Grading Service (PCGS). PCGS confirmed the coins were genuine and graded them according to their condition and rarity.

Notable Coins

• 1866-S No Motto Double Eagle: Extremely rare, missing the “In God We Trust” motto
• 1894-S Double Eagle: One of the finest known examples
• 1884-S Double Eagle: High-grade specimen with exceptional luster

PCGS assigned grades ranging from VF (Very Fine) to MS-65 (Mint State), with several coins receiving top-tier grades due to their pristine condition.

Sale and Public Reaction

The coins were sold through Kagin’s Inc. and Amazon, marking one of the first major numismatic sales conducted via an online retail platform. The total value of the hoard was estimated at over $10 million, with individual coins selling for thousands to hundreds of thousands of dollars.

The sale generated massive media coverage, including features in CNN, Forbes, and The New York Times. Collectors rushed to acquire pieces of the hoard, and many coins were accompanied by certificates of authenticity and provenance.

Impact on Numismatics and Treasure Hunting

The Saddle Ridge Hoard reignited interest in U.S. gold coins and treasure hunting. It demonstrated that significant finds were still possible in the modern era and encouraged collectors to explore historical coinage with renewed enthusiasm.

For numismatists, the hoard provided a rare opportunity to study untouched 19th-century coinage. For historians, it offered a glimpse into the economic behaviors of Americans during the Gold Rush and Reconstruction eras.

The hoard also raised ethical questions about ownership, taxation, and the sale of historical artifacts. The couple paid taxes on the find, but debates continue about how such discoveries should be handled legally and culturally.

Preservation and Legacy

Many coins from the hoard are now part of private collections, while others have been donated to museums. The story of the Saddle Ridge Hoard has been featured in documentaries, podcasts, and educational materials, ensuring its legacy endures.

Collectors continue to seek coins with Saddle Ridge provenance, and the hoard has become a benchmark for evaluating other buried treasure discoveries.

Where to Learn More

For a deeper dive into the artistry and legacy of American gold coinage, visit our curated guide to U.S. Gold Coins.

Final Thoughts

The Saddle Ridge Hoard is more than a collection of coins—it’s a story of mystery, history, and the enduring allure of gold. It reminds us that treasures can lie just beneath our feet, waiting to be discovered. Whether you're a seasoned collector or a curious newcomer, the hoard offers inspiration and insight into America’s numismatic past.