A $3 gold coin is expected to fetch $4 million when it goes up for auction next month. The 1870-S is one of just two ever made and is one of the rarest coins in US history. It was discovered in a San Francisco bookshop in 1997 by a European tourist, who found it glued to the inside pages of a souvenir book.

The collector sat on his unbelievable find for 15 years, before bringing it to auction at the Four Seasons Auction Gallery outside Atlanta, Georgia.

The coin was produced by the San Francisco mint on special order of the mint superintendent, originally meant to be placed in the cornerstone of a building in the city. It was made from a special cast that had a unique 'S' hand-carved into it. The 'S' is what makes the coin so rare.

When the coin in the cornerstone was damaged and removed, a second copy was cast. That duplicate is on display at the American Numismatic Association Museum in Colorado Springs, Colorado. In 2007, it was valued at $4 million.

Appraisers aren't certain of the origin of the coin that is going on the auction block next month.It could be the original that was taken from the cornerstone of the building. Or, it could be a third copy that was made and never reported.

To read the complete article, see:Rare $3 gold coin worth $4 MILLION goes on auction... and it was discovered in an old book(www.dailymail.co.uk/news/article-2145652/Rare-3-gold-coin
-worth-4-MILLION-goes-auction--was-discovered-old-book.html)

Since I wrote this earlier this week I discovered I'm not the only one questioning this. Dave Harper wrote:

To read the complete article, see:Like a $3 bill?(www.numismaticnews.net/buzz/like-a-3-bill)

An update from CoinWeek says the item has been removed from auction.It does have a full image of the reverse of coin offered for sale. No one can say for sure if this coins is or isn't what the sellers purport it to be. I would be happy to learn the story is true, for that would make for an interesting new chapter in U.S. numismatic history.

To read the complete article, see:The Coin Analyst: Extremely Rare 1870-S $3 Gold Coin To Be Auctioned on June 2 in Georgia - Real or Fake?(www.coinweek.com/news/featured-news/the-coin-analyst-extremely
-rare-1870-s-3-gold-coin-to-be-auctioned-on-june-2-in-georgia-real-or-fake/)