A man in Fresno, California stumbled upon an extraordinary find at a garage sale when he purchased a vintage photograph for a mere $2.

Little did he know, this seemingly inconsequential purchase would turn out to be a lucrative investment, valued at an astonishing $5 million. What made this photo so valuable? It featured none other than the infamous outlaw Billy the Kid casually playing croquet.

The revelation of the photo’s worth came after Kagin’s Inc., a respected numismatics firm, officially authenticated the image earlier this month. Measuring just 4 inches by 5 inches, the tintype captured Billy the Kid and members of his notorious gang, The Regulators, during the summer of 1878, possibly at a wedding.

David McCarthy, Kagin’s senior numismatist, highlighted the meticulous examination process that spanned over a year before confirming the photo’s authenticity. Every detail was scrutinized by a team of experts to ensure its legitimacy, given the rarity and significance of an original Billy the Kid photo.

“This discovery is akin to finding the Holy Grail of Western Americana,” McCarthy remarked. “After extensive study, including on-site inspection, there is now overwhelming evidence supporting the image’s authenticity.”

This newfound photo joins the ranks of the only other known image of Billy the Kid, taken in 1880 in Fort Sumner, New Mexico. That tintype, measuring 2 inches by 3 inches, fetched $2.3 million in 2010.

Billy the Kid, also known as Henry McCarty or William H. Bonney, has become a legendary figure in American folklore, renowned for his exploits as a thief and gunfighter. Though folklore attributes 21 killings to him, historical records suggest a more accurate count of nine.