The artist was appointed to the staff of the Berlin Academy in 1876 as part of the reforms of the new Director, Anton von Werner. He sent ‘Old Man’s Treasure’, together with two other similar genre pictures with life size figures, 'Der Blumenfreund' and 'Verlorenes Gluck', to the Royal Berlin Academy in that year.
This painting was purchased in 1879 from one of the earliest Liverpool Autumn Exhibitions (LAEs). A reviewer described it as ‘a most masterly and forcible painting, uncompromisingly true’. The LAEs were exhibitions of work by living artists held in the city from 1871-1939. They were staged at the Walker Art Gallery from its opening in 1877.