Pages

May 2, 2010

Buying Old Homes & The Treasure Rebate

WINNIPEG - Fred Murray was hoping for a renovation rebate on the old house he bought, he just didn't think it would come in the form of old coins, shinplasters and other currency from over 100 years ago.

Murray, who runs his own stucco business, bought an Elmwood bungalow last spring and was spurred to renovate by the federal government's Home Renovation Tax Credit.

It was when he ripped out ceiling panels in the 750-square-foot home's basement that he realized he'd be supplementing that funding with some older money.

In addition to Canadian currency -- ranging from regular and commemorative coins to paper money, including the 25-cent bills commonly known as shinplasters to $100-bills -- the collection also included foreign cash from Weimar Germany, 1920s China and the United States, stamps from numerous countries and clippings from Winnipeg newspapers.

"If it pays for the house, it's a bonus," said the 54-year-old.

While Murray said he knew nothing about collectible currency or stamps before his demolition find, he's now a little more up to speed. However, he's not interested enough to hold onto the collection and plans to ship it off this weekend to an Eastern Canada auction house.

He said he has no idea what he'll get for the collection but plans to put it right back into the renovations.

From older neighbours, Murray found out the house was built by a German immigrant named Albert Schmidt -- whose identification he also found in the rafters -- in the 1940s. He lived in the home until sometime in the 1970s.

It was apparently Schmidt who meticulously stashed the collection above ceiling boards between rafters in the basement, Murray said.

"He spent years and years putting this together. I get hold of it and I'm getting rid of it," Murray said.

Murray said coins were packed in cloth bags, pill bottles and tin cans while the bills and stamps were stored in paper envelopes.

Murray said the basement rec-room had been renovated at least three times previously, but in each case new panelling was tacked on over the existing ceiling, leaving the treasure undiscovered.

"That was good for me," he said.

No comments:

Post a Comment