The Discovery Of The Kentucky Gold Hoard

The Discovery Of The Kentucky Gold Hoard


May 12, 2025 | Tom Miller

The Discovery Of The Kentucky Gold Hoard


An All-American Treasure

Digging up a cache of gold coins sounds like something we would hear about in a movie with eye-patch-wearing scoundrels on a tropical island somewhere. This, however, is not the case with the Kentucky Gold Hoard. Its discovery in rural America was incredible—but when historians saw what was inscribed on some of the coins, they were even more shocked.

An Unusual Crop

The Kentucky Gold Hoard was found in the middle of a farm in rural America. One can imagine digging up vegetables or old equipment in such a place, but certainly not buried treasure. But that's exactly what happened one day in 2023.

A handful of double eaglesPortable Antiquities Scheme, CC BY-SA 2.0, Wikimedia Commons

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Modern Treasure Hunting

For the most part, treasure hunters don't just pick a spot and start digging. One of the most important pieces of equipment for the modern treasure seeker is a metal detector. These devices scan across the ground and let the user know if metal is somewhere beneath the surface.

A Golden coinLost Dutchman Rare Coins, Wikimedia Commons

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The Most Insane Thing

In a video posted to YouTube, an anonymous treasure hunter calls his find "The most insane thing ever". The video shows dirt-covered gold coins, some freed and some still buried. This is the stuff of treasure hunters' dreams.

Golden coins treasure in Ramla MuseumDr. Avishai Teicher Pikiwiki Israel, CC BY 2.5, Wikimedia Commons

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A Broken Country

To understand where this gold came from, we need to travel back in time a bit. The early 1860s were a tumultuous time for the United States. In fact, they weren't very united at all. And by April 1861, the country entered a bloody conflict.

The Signing Of The Treaty Of Mortefontaine, 30Th September 1800 Victor Adam, Wikimedia Commons

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What Happened?

The election of Abraham Lincoln brought to a head some difficult issues in the US. Arguments over governance, culture, and, more importantly, the ownership of other people, had driven a wedge between the Northern and Southern states.

Abraham Lincoln, . The earliest presidential portrait of LincolnUnknown Author, Wikimedia Commons

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Not So Civil

There's a good chance you've heard of the American Civil War. It's called "civil" because it took place within a supposedly united country, not because everyone was very nice about it. In fact, it was a bloody and divisive conflict that continues to shape American culture.

President Abraham LincolnRischgitz, Getty Images

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North And South

The opposing forces in the conflict were the Northern Union and the Southern Confederacy. The primary difference between the two was that the South was in favor of continuing the use of slaves as part of the workforce. And between the two sides were several contested border states.

mage showing soldiers in American Civil WarMiller, Francis Trevelyan, Picryl

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Neutral States

Maryland, Delaware, Missouri, West Virginia, and Kentucky sat along the border between the opposing forces. Because of this, these states adopted policies of neutrality to account for the fact that they shared allegiances with both sides in the conflict.

American Civil War factsUnknown Artist, Wikipedia

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Policy Versus Practicality

But saying you're neutral and actually being neutral are two very different things. Citizens of these states divided their loyalties, with some supporting the secession of the Southern states and others supporting the anti-slavery Union states.

The American Civil War FactsInternet Archive Book Images, Wikimedia Commons

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Fractured Families

The division within Kentucky resulted in family members finding themselves on opposite sides of a battlefield. Records indicate that about 100,000 Kentucky citizens fought for the Union, while about 40,000 served in the Confederate army.

A sketch by a Union prisonerLibrary of Congress, Picryl

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Neutral No More

Kentucky's neutrality lasted only a few months. Confederate General Leonidas Polk marched across the border in September 1861, violating the state's neutrality agreement. As a result, Kentucky threw in with the anti-slavery Union forces.

Portrait of Leonidas PolkMathew Benjamin Brady, Wikimedia Commons

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Raiding Parties 

Once Kentucky had declared its support for the Union, the border state became fair game for Confederate attacks. In 1862, John Hunt Morgan led the first of a number of raids into the state in an effort to terrorize citizens into changing sides.

Portrait of John Hunt MorganLibrary Company of Philadelphia, Wikimedia Commons

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June To July 1863

Ryan McNutt, a conflict archaeologist, speculates that the hoard was buried ahead of a summer 1863 raid by Morgan. And although the raids were a large part of the Confederate plans, they did not fulfill the tactical goals Southern leaders hoped for.

Grayscale Photo of Cherokee Confederate reunionUnknown Author, Wikimedia Commons

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4 Years, 1 Month, And 2 Weeks

The conflict officially ended on May 26, 1865. The South was left in ruins, Abraham Lincoln had been assassinated a month earlier, and America started to pick up the pieces. And the legends of Kentucky's buried treasures began.

General Custer and James B. WashingtonBrady, Mathew B., Wikimedia Commons

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Vanishing Cash

While the conflict still raged, huge amounts of cash vanished from circulation. With so much uncertainty around the outcome of the war, people held onto their money, concerned about losing it if the government or banks lost power.

Golden coinsSteve Shook, CC BY 2.0, Wikimedia Commons

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Insurance Policy

While we'll never really know the reason for the coins' burial, there is speculation that the owner hid them ahead of the Confederate raiding parties. Gold coins were federal currency, rather than Confederate, so owners may have worried about being discovered with Union-supporting cash.

Kentucky log (1904) Internet Archive Book Images, Wikimedia Commons

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Not The Only One

The practice of burying your treasure was not uncommon in the border states during the Civil War. William Pettit is said to have buried $80,000 in gold coins somewhere on his farm, but he died before digging it up. The money is supposedly still out there somewhere 

Civil War ViewThomas C. Roche, CC0, Wikimedia Commons

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The Goldgrass State?

Though typically known as the Bluegrass State, Kentucky's long history of buried treasure earns it the unofficial name of the Lost Treasure State. It's even rumored that outlaw Jesse James buried stolen money all across the state, including a cache of $50,000 in gold coins.

Civil War ViewThomas C. Roche, CC0, Wikimedia Commons

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Not Just Buried, But Sunken

Kentucky is also home to rumors of sunken riverboats filled with treasure. Such finds might be a bit more difficult to locate than a buried cache, but they contribute to the idea that the state is just bursting with riches waiting to be discovered.

Civil War ViewThomas C. Roche, CC0, Wikimedia Commons

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What Happened To The Hoard's Original Owner?

If you had buried a fortune in cash in a field, you'd very likely not have just left it there. So why did the Kentucky Gold Hoard stay buried for so long? When the conflict ended in 1865, the original owner may have forgotten where the buried treasure was, or simply may not have survived.

Civil War ViewThomas C. Roche, CC0, Wikimedia Commons

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Over 150 Years Later

Fast forward to 2023 and an anonymous metal detector/treasure hunting enthusiast in Kentucky. In an undisclosed farm field in the state, over 700 coins from the Civil War era finally saw the light of day again.

Hoard Of Ancient Gold CoinsSaperaud, Wikimedia Commons

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Are They Really That Valuable?

Let's be honest: If you dug up a coin in your backyard, would you really think it was a piece of history? Probably not, and that's why the discoverer of the hoard called in the experts. Rare coin dealer Jeff Garret called handling the hoard one of the highlights of his career.

Ancient coinsBirmingham Museums Trust, CC BY 2.0, Wikimedia Commons

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20 Years Of Riches

The coins date from the years 1840 to 1863. All are gold, along with a scattering of silver coins, and are among the rarest coins in American history. Their values, at the time of minting, ranged from $1 to $20 (USD), but they're worth significantly more now.

Ancient coinsYorkshire Museum, CC BY-SA 3.0, Wikimedia Commons

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A Historical Rarity

Another contributing factor to the rarity of the coins is that not many new coins were minted during the Civil War. When combined with their condition and age, this makes the Kentucky Gold Hoard one of the most important treasure finds in US history.

Civil war soldierGeorge N. Barnard, Wikimedia Commons

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Making The Grade

As the coins are now collectibles, it was important to certify that they're the real thing. After digging up the coins, they were sent to the Numismatic Guaranty Company (NGC) for cleaning and grading. The condition of the coins affects the price they'll eventually sell for.

US gold coinLost Dutchman Rare Coins, Wikimedia Commons

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Incredible Condition 

Despite being buried in the dirt for over 150 years, the coins are in remarkable shape. NGC graded the coins between "Extremely Fine" and "Mint" condition, meaning that some of the coins probably never saw use before being buried.

US gold coinsImage courtesy of Heritage Auctions, Wikimedia Commons

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Rare Pedigree

Not all buried treasure gets a name like the Great Kentucky Gold Hoard. NGC, after inspecting and cleaning the coins, decided that this was a find of historic significance and awarded it the pedigree of its name.

US coinsPixabay, Picryl

Interesting Origins

The coins that comprise the Kentucky Gold Hoard were struck in 90% gold between 1840 and 1863. They came from the mints in Philadelphia, Denver, San Francisco, New Orleans, and Carson City, along with one other mint that had collectors take notice.

Closeup of gold coinsPixabay, Picryl

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The Dahlonega Coins

Bearing a mint mark of the letter "D", some of the coins come from the Dahlonega mint, which was set up during the Gold Rush. According to AustinCoins.com, "less than 1% of the 'D' mint coins survive today", making those in the Kentucky Hoard a remarkable find.

Closeup of coinsPixabay, Picryl

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A Confederate Mint

The Dahlonega Mint was taken by Confederate forces in 1861, and rumored to have produced some Confederate-era gold coins. The number of coins manufactured under Confederate control is still unknown.

US confederate dollarsNational Numismatic Collection, Wikimedia Commons

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A Casualty Of War

After the conflict ended, the federal government decided against reopening the mint. The building sat unused for almost a decade until it was finally turned into the academic building of North Georgia College in 1873.

US coinsImage courtesy of Heritage Auctions, Wikimedia Commons

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A Lot Of Dollars

It might be hard for us to imagine now, but most of these gold coins were only worth $1 originally. 95% of the coins in the hoard were Type I, II, and III gold dollars, according to GovMint. The remaining 5% were $10 and $20 gold Liberty coins.

US confederate coinsImage courtesy of Heritage Auctions, Wikimedia Commons

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$20 Gold Liberty Coins

One of the most amazing parts of the find was extremely rare 1863 $20 Gold Liberty coins. These are among the rarest of the $20 Gold Liberty series, and an individual coin can sometimes command six-figure prices!

US gold coinsJaclyn Nash, Wikimedia Commons

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1863 Liberty Double Eagles

Another extremely rare find in the hoard were a few 1863 Liberty Double Eagle coins. Seller GovMint.com, who handled the sale of the hoard coins, say that coins with this date are "super-rare" and "scarce in all grades".

US gold coinsJaclyn Nash, WIkipedia

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Much More Than $20

The double eagles are incredibly valuable coins. GovMint listed the now sold-out coins from the Kentucky hoard for $100,000 each. The highest price commanded for one was $381,875 at an auction.

US gold coinsJaclyn Nash, Wikipedia

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How Much Is The Hoard Worth?

While it all depends on how much people are willing to pay, there have been some speculations on how much the whole hoard is worth. Lower figures point to about $1 million, while Andrew Salzberg of the Certified Collectibles Group believes that the hoard might be worth over $2 million.

Golden coins in a barrelPixabay, Picryl

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Important Despite Its Value

Setting aside for the moment how much the coins are worth, the find is also of great historical significance. It paints a picture of what coinage of that era looked like and how people in the middle of a violent conflict thought about preserving their wealth.

Closeup of gold coinsPixabay, Picryl

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A (Mostly) Lost Practice

It would be difficult for modern people to bury treasure in this way. While some people do still use cash, electronic funds are much more prevalent in Western society. And, unfortunately, burying your debit card until the conflict ends is not quite the same thing as burying gold coins!

Gold and Silver Round Coinscottonbro studio, Pexels

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Should You Go Treasure Hunting?

This might inspire you to grab a metal detector and head for the Bluegrass State. And while there are lots of rumors of treasure just waiting for a lucky hunter to unearth it, remember that Kentucky is a big place, and coins, in general, are really pretty small. 

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Metal Detector On The BeachKyösti Viinamäki, CC BY-SA 4.0, Wikimedia Commons

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