$300,000 gold coin to be auctioned in Schaumburg

The Schaumburg Convention Center will be the auction site of a rare gold U.S. coin expected to fetch more than $300,000 next Thursday, April 27, and help build a church for the Indiana congregation to which it was donated.

The 1866 proof Liberty Head double eagle is one of only 10 known surviving specimens of the 30 that were minted.

It is also one of the earliest coins to bear the "In God We Trust" motto that first appeared on copper two-cent pieces only two years earlier.

The donor is a widow who wishes to remain anonymous and who was attacked in her home four years ago by assailants trying to steal the coin.

She made the donation to GracePoint Church in Valparaiso to help them build their long planned building and avoid missing an approaching financial deadline for the project.

"The donor's husband was a quadriplegic for many years and used his time to study investing, including coin collecting," the church's pastor, Ben Lamb, said in a written statement. "This was the very first one he ever purchased. He passed away four years ago and she held onto the coin."

After the robbery, the woman considered the coin "a thorn in her side," Lamb said. "The widow told us the coin was rare, but we never dreamed how huge the true value was."

The sale is being managed by Heritage Auctions, www.ha.com.