Storage Wars Gold Doubloons: coins worth $0.5m sell on TV show for just $1,000
Popular TV show Storage Wars has sold a locker containing $500,000 worth of Gold Doubloon coins...
Paul Fraser Collectibles, Tuesday 15 November 2011
Paul's weekly column once focussed on finding collectibles of great value in unusual places - be they barn finds, attic finds or even a discovery in a disused mine.
But now the 'barn finds phenomenon' has extended to storage lockers, with news that a US TV show has sold a storage locker to a US buyer containing $500,000 worth of Gold Doubloon coins.
What's more, the buyer bought the locker for just $1,000.
The find was sold by Dan and Laura Dotson, stars of the TV series Storage Wars broadcast on US network A&E. The show is popular, averaging around 4.7m viewers during its last series.
The programme auctions foreclosed lockers without bidders knowing what's inside. The sale was held just outside of San Francisco, US.
The storage locker contained $0.5m
The coins inside the locker have been described as a "pirate's treasure" - one expert confirmed they are "pieces of Spanish gold" - and are thought to date back to the 16th and 19th centuries.
The lucky buyer, known only as John, is from San Jose. He could now have a $499,000 profit on his hands - or more, given that the antique coins will surely increase in value.
Dan and Laura Dotson have since been in the news speaking of their incredible find. It will surely increase interest in storage locker auctions among both collectors and the general public.
"We had no idea!" said auctioneer Dan Dotson yesterday via Twitter.
"We only heard from the excited buyer and storage facility owner! Great find of a lifetime."
Doubloons (from the Spanish doblón, meaning "double") were two-escudo or 32-reales gold coins minted in Spain, Mexico, Peru, and Nueva Granada. They were current until the mid-19th century, and are today highly-desired among collectors.
Other recent high-profile 'barn find' sales include the late Lee Hartung's extensive automobile collection. Its recent auctioning included the sale of an incredibly rare post-war 'BMW concept car' for $195,500.
Elsewhere, a 1929 Harley-Davidson Peashooter motorcycle discovered in, of all places, the bathroom of an Australian treasure mine sold for $125,800 earlier this year.
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