Please take note that this item was first published in October 2015 and is being republished.

A collector in Fresno, California struck gold when he paid just two dollars for an antique image; what at first glance appeared to be an insignificant item turned out to be a possible goldmine. The turn of events? This picture shows none other than Billy the Kid, the infamous bandit, casually playing croquet.

How much is this historic picture worth? An astounding $5 million is estimated.

Earlier this month, the picture was formally verified by reputable numismatics company Kagin’s Inc., which garnered media attention. Billy the Kid is seen in the 4-by-5-inch tintype with members of his infamous gang, The Regulators, in the summer of 1878—possibly during a wedding.

Senior numismatist David McCarthy of Kagin provided insight into the extensive examination that took more than a year to conclude before the company verified the legitimacy of the picture. McCarthy stressed the importance of careful verification, saying that in a situation such as this, a passing likeness wouldn’t suffice. It was necessary to create a group of specialists to examine every aspect and make sure nothing was out of the ordinary.

“An original Billy the Kid photo is the Holy Grail of Western Americana, so when we first saw the photo, we were understandably skeptical,” McCarthy said. “There is now overwhelming evidence of the image’s authenticity after more than a year of methodical study, including my own inspection of the site.”

This discovery places the recently discovered image next to the one and only known photograph of Billy the Kid, which was taken in 1880 in Fort Sumner, New Mexico. According to Kagin’s, that 2-by-3-inch tintype sold for an astounding $2.3 million in 2010.

Billy the Kid, whose real name is Henry McCarty or William H. Bonney, has cemented his reputation as a legendary gunfighter and thief in American folklore. His legendary status was further enhanced by his audacious prison escape after killing two guards. Although popular belief counts his murders at twenty-one, one for each year of his life, historical accounts point to a more realistic nine.

The New Mexico Tourism Department claims that Billy the Kid was directly accountable for four deaths—two of which included the two guards—and that he helped put an end to five more. When Sheriff Pat Garrett located him and carried out justice at Fort Sumner in 1881, his illustrious run came to an end.

The release of this recently verified image transforms an ordinary antique store find into a priceless piece of American history by adding an intriguing new chapter to the life of one of the most famous characters in the Wild West.