FREEMONT, Calif. — A California company says it has authenticated and is selling one of the “holy grails of Western Americana” only the second confirmed image of the notorious bandit Billy the Kid.

The 4-by-5-inch photograph was bought for $2 in 2010 at an antique shop by Randy Guijarro of Freemont, California.

According to Kagin’s Inc., a firm specializing in Western Americana and rare coins, the photograph shows Billy the Kid and members of the Lincoln County Regulators gang “playing a leisurely game of croquet alongside friends, family and lovers in the late summer of 1878.”

Billy the Kid, a member of the Lincoln County Regulators, was among the most notorious figures of the early frontier and a legendary outlaw in the Wild West. According to legend, he killed anywhere from eight to 22 people and took part in New Mexico’s Lincoln County War.

Kagin’s said the photograph had been appraised and insured for $5 million.