$100 million coin buried over 50 years found, ready for auction

A coin collection, much of which remained buried underground for over 50 years, is expected to surpass $100 million at auction, according to experts.

Named the Traveller Collection, this extraordinary assemblage is believed to be the most valuable coin collection ever brought to auction.

The coins will be sold gradually over the next three years, with the first auction set for May 20.

Beyond its immense value, the collection’s origins make for a fascinating tale.

Spanning over 100 territories and encompassing coins from ancient times to the modern era, the collection is being auctioned by Numismatica Ars Classica.

What sets it apart is that most of the coins remained hidden underground for half a century before resurfacing.

According to a press release shared with CNN, the anonymous collector behind the collection began acquiring gold coins after the Wall Street Crash of 1929.

Over time, he developed “a taste for coins with great historical interest, beauty and rarity” and eventually amassed approximately 15,000 coins.

During the 1930s, he and his wife traveled extensively across the Americas and Europe, acquiring rare and historically significant coins while meticulously documenting their purchases.

Despite settling in Europe at a time when Hitler’s Nazi party loomed over the continent, the collector sensed the impending danger. In response, he carefully packed the coins into cigar boxes, which were then placed inside aluminum containers and buried underground, where they remained undisturbed for five decades.

Among the collection is a 50 Toman coin, part of an “exceedingly rare” set minted in Tehran and Isfahan during the late 18th and early 19th centuries.

“The collection spans all geographical areas and contains exceptionally rare coins often in a state of preservation never seen in modern times. Several types have never been offered in a public auction, highlighting their considerable rarity,” the press release states.

When eventually retrieved by the collector’s heirs, the coins were placed in a bank vault before being presented to the auction house. However, due to the family’s request for privacy, specific details regarding their hiding and rediscovery remain undisclosed.

Fortunately, the collector’s meticulous records provided crucial information, enabling auction house experts to trace the provenance and value of many coins. Some of them link back to significant auctions of the late 19th and early 20th centuries.

One of the collection’s standout pieces is a 100 ducat gold coin of Ferdinand III of Habsburg, minted in 1629 during his tenure as Archduke of Austria and King of Hungary, Croatia, and Bohemia. Weighing 348.5 grams of fine gold, it ranks among the largest European gold coins ever minted.

Also included is a five-guinea coin of George III, dated 1777, valued at approximately $340,000 (300,000 Swiss francs).

Another exceptional highlight is an “exceedingly rare” set of five Tomans, minted in Tehran and Isfahan during the late 18th and early 19th centuries by Agha Mohammad Khan Qajar. Only five complete sets are known to exist, with one housed in the Ashmolean Museum in Oxford, UK.

Arturo Russo, director of Numismatica Ars Classica, stated in the release: “The vast range and superb quality of the coins offered, the sheer number of great rarities and the fascinating story of the collection’s formation will make these sales a landmark in the history of numismatics.”

David Guest, director of David Guest Numismatics and consultant to the collection, echoed the sentiment: “When it came to cataloguing the British coins from the Traveller Collection I had to keep pinching myself to make sure I wasn’t dreaming.

“Not only was the quality exceptional but many of the coins before me were of types not known to have been offered for sale in over 80 years and, in some cases, completely unrecorded.”