Bank of New York Hoard
| Industry | Banking, Financial services |
|---|---|
| Founded | 1784 |
| Fate | Merged in 2007 |
| Headquarters | New York City , United States |
The Bank of New York Hoard denotes a collection of several thousand Fugio Cent coins unearthed at the Bank of New York. In 1788, the bank purchased a keg containing Fugio cents and stored it in its basement, where it remained unnoticed until its rediscovery in 1856 at the bank's then-current premises. After being placed in cotton sacks, the coins were stored once more until they were uncovered again in 1926. Following this, numerous coins were given out as keepsakes to customers until 1948, when the American Numismatic Society conducted an examination of the remaining 1,641 pieces. Some of these coins were gifted to the Society, while others were sold to numismatists. All specimens were found in mint state condition, predominantly exhibiting brown toning, which makes this hoard particularly valuable for collectors pursuing pristine examples.
The bank maintained possession of 819 coins, which varied from mint state to corroded condition due to previous water exposure during storage. Although the bank ceased operations following a merger in 2007, reports from 2013 confirmed that the coins still remain on-site. The institution has opted not to release the remaining coins, choosing instead to preserve them for their historical significance and potential future value.