Don't throw away your old, worn-out jeans - they could be worth more than you think!

The next time you think of throwing away your old, worn-out jeans, think again - they could be worth much more than you think!

Recently, a pair of Levi's jeans dating back to 1880 were found in a deserted mine, located in the American West, and later auctioned for a whopping US$87,400!

Self-described denim archaeologist, Michael Harris, discovered the pair of jeans, which immediately stood out to him for their quality.

The jeans, which feature a buckle back adjuster along the seat, were purchased by Kyle Hautner and Zip Stevenson. Hautner paid 90 per cent of the price, while Stevenson contributed the remaining 10 per cent.

Stevenson, who owns and operates the Denim Doctors repair shop in Los Angeles, said the pants were a rare discovery. Similar pairs have been found in the past, but all of them were too fragile to be considered wearable.

The new owners said the jeans are now being kept in a safety deposit box near Denim Doctors and can be viewed by appointment. They said they are hoping to sell the pants to a museum for public display.