New image shows Billy the Kid playing croquet

Billy the Kid tintype authenticated by Americana expert and coin dealer Kagin's (Kagin's).

(FOX NEWS) - A rare coin dealer in California has concluded that a grainy image of legendary gunman Billy the Kid playing croquet is the real thing and could be worth as much as $5 million.

That is not bad for a photo purchased by Randy Guijarro of Freemont, Calif. for $2 as a part of a miscellaneous lot at a Fresno junk shop in 2010, according to Kagin's. The company is negotiating a private sale of the photo.

"We have a couple of people who are interested right now," Kagin’s senior numismatist David McCarthy told FoxNews.com said.

The 4x5-inch tintype – which depicts Billy the Kid and several members of his gang, The Regulators, relaxing in the summer of 1878

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