The Kentucky historical society evaluation of the house includes this description:Arnold was a native of Elizabethtown who gained notoriety after claiming the discovery of diamond mines in Colorado and Arizona.

Arnold formed a company to exploit the mines and moved back to Elizabethtown in 1872 a wealthy man.

The mines later turned out to be a hoax and Arnold was the subject of several lawsuits and briefly spent time in the Elizabethtown jail.

Arnold's business dealings remained suspect in these years and in 1873 he was wounded in a shoot out with a rival businessman.

This article about a property in Hardin County, Kentucky on the National Register of Historic Places is a stub.