When an Indiana church announced that it needed money to secure a $3.5 million loan for a permanent location, an anonymous donor came to the rescue. However, she does not want any recognition for donating to GracePoint Church a rare gold coin that is valued at more than $300,000.
The woman said there was no reason for her to hold onto it when it would do so much good for the church. She stated that she is comfortable with a roof over her head and food to eat. She added that she is not looking for wealth, and she will be just fine. Besides, the donor said four robbers broke into her house years ago trying to get the coin.
Fortunately, a neighbor stopped them.
Church plans
Pastor Ben Lamb indicated that the congregation at GracePoint Church was founded in 2009, but it doesn't have a regular church home. The church is outgrowing the space it is renting at a local elementary school.
Since the church needs $300,000 to secure a building loan, he asked the congregation to help. One man donated $150,000, but the church needed twice that much. Time was running out, and at the last minute, a coin was donated. When it gets a loan from the bank, the church is planning to move into a converted furniture store that will seat 500 people. It also plans to add a lobby and a center for children.
The coin
The value of the rare coin certainly enables the church to acquire the loan that is needed to start building.
The coin is an 1866 Double Eagle $20 gold coin that was in the first series that was printed. The donor had one of only 30 of the coins that were never put into circulation. A representative from Heritage Auctions believes there are only 10 of the 30 coins left.
The generous donor said her late husband was a dedicated coin collector, and the rare coin was the first one he ever bought many years ago.
He paid $125,000 for the single coin. The widow has been holding onto the coin for 14 years, but she feels good about giving it to the church.
The coin will go up for auction on Thursday, April 27, 2017, and can easily be sold today for $300,000 or more. Heritage Auctions, located in Schaumburg, Illinois, is the world's #1 numismatic dealer and auctioneer.
Lots of people are expected to be interested in the coin.
The pastor sees the theology in the coin that is stamped with "In God We Trust." He said it is ironic that the coin was delivered just in time to meet the financial deadline because he and the congregation did exactly what was printed on the coin. They trusted God.
