Gold coins

[XH29N0G]

It isn't someone on here who found the cache of gold coins in California, is it?

http://www.latimes.com/local/lanow/la-me-ln-gold-coins-california-backyard-20140225,0,2401817.story#axzz2uQisgTIM

I wonder if they will use the funds to fix up their car?  

Also some of the oldest tin cans, I imagine.

[stripedelete]

I hope to hell there were actually 8-10 cans.   

[twodko]

Yes it is. The lucky slugger is our own 68X426! Great for him and great for the membership here. Now all of us can get the parts we need for our cars because we know Dan will take care of us. 

[polywideblock]

if strange things start happening , put the money back the leprechauns are pissed     seriously what a piece of good fortune 

[Mopar Nut]

if strange things start happening , put the money back the leprechauns are pissed     seriously what a piece of good fortune 

Have you heard about the 12lb chunk of gold found in Australia two years ago.

[twodko]

Wow, I'd love to see that......I'll google it.

[twodko]

It's freakin' huge.

[Mopar Nut]

Holy moly.

[69rtse4spd]

Good for them, but will have somebody try & say that there relatives owned the land before & want some of it, or the state will screw them out of some of it.  .

[stripedelete]

Good for them, but will have somebody try & say that there relatives owned the land before & want some of it, or the state will screw them out of some of it.  .

EXACTLY!

[twodko]

Good 'ol litigious Kalicommia.

[Chad L. Magee]

Cool!  I think they were intentionally left by someone who did not trust banks back in the turn of the last century.  I have found small hoards of wheat and indian cents like that, but never gold coins.  Congrats to the finder, that was a lifetime+ find....

[F8-4life]

Good for them, but will have somebody try & say that there relatives owned the land before & want some of it, or the state will screw them out of some of it.  .

I saw this on my local news, they should not have told anyone about it.
Especially not the whole catch, maybe sell it off little by little to avoid the above.
Also you have to wonder, whether they found it on their property actually or "found" it on there property.

[John_Kunkel]

The government has already decided that the finders will owe the maximum capital gains tax on the appraised value of the gold.

If they wanted to remain anonymous why the hell did they tell everybody of their find? Dumb, dumb. 

[polywideblock]

could these have been someone's collection that they buried instead of surrendering back in the great depression when your Gov. decided the general public was a good cash cow   

[Chad L. Magee]

Yes, it could, but I would expect some St. Gaudiens $20s in there as well if that was the case.  The gold recall order of 1933 had a provision that allowed certain collector gold coins to be kept.  I am thinking that this was a hoard from either 1900 or slightly before due to the dates on the coins in the hoard.  Even if you piecemealed them out for sale one at a time, you would still be found out by the government eventually.  Remeber the song: Taxman by the Beatles as it often comes true....

[twodko]

Mr. Magee,

Do think selling such items abroad would still incur the greed of the IRS?

[Chad L. Magee]

Actually it is Dr. Magee, as I have a PhD in chemistry.  Yes, the IRS can find out if you sold them outside the country and they will come a knocking if you don't pay them their cut if you are a citizen of the USA.  Of course, you could change your citizenship to stop that, but they will still find out one way or the other.  At that stage, it becomes a different form of evasion.  (It is hard to sell that amount of rare coins without news of it traveling the rare coin market, unless you want to sell them for scrap gold value only after melting them down.  That would be a few million $ difference in value, more than the amount that would be owed to the IRS.)  One of my former uncles (I no longer claim him) was an IRS tax auditor, so I know how far they will go to get their $$$....

[twodko]

 

Thank you, I suspected as much.

[Mopar Nut]

May have come from coins stolen from SF Mint in 1901. This could really muddy up things!!


http://www.ibtimes.co.uk/saddle-ridge-hoard-were-calfornian-gold-coins-stolen-buried-by-walter-dimmick-1901-1438113

http://www.dailymail.co.uk/news/article-2568952/Could-newly-discovered-gold-coins-haul-stolen-disgraced-San-Francisco-Mint-employee-1901-Treasure-hunting-enthusiasts-weigh-origins-couples-10-million-find.html

http://www.coloradonewsday.com/national/44794-could-newly-discovered-gold-coins-be-the-haul-stolen-by-disgraced-san-francisco-mint-employee-in-1901-treasure-hunting-enthusiasts-weigh-in-on-origins-of-couple-s-10-million-find.html

[polywideblock]

love the way as soon as someone finds something worth having the government starts looking for ways to take it off them   

hope it doesn't but this could go down the same road as the atocha  treasure that they confiscated and mel fisher had to fight for years to get back

[Mopar Nut]

love the way as soon as someone finds something worth having the government starts looking for ways to take it off them    

hope it doesn't but this could go down the same road as the atocha  treasure that they confiscated and mel fisher had to fight for years to get back

There was a treasure hunting team that found eight hundred million worth in coins 300 miles off the coast of Spain in 2007 or so. Spain stole it from South America back in the 1500's and claimed that it belonged to them. After years in court, Spain won.
 http://www.businessweek.com/articles/2012-06-07/odyssey-and-the-lost-spanish-treasure

[polywideblock]

watched the doco on the "black swan wreck /recovery /  theft by Spain  on fox only about a month ago
love the way they waited till it was recovered before trying to confiscate it   A holes if it was me I'd have taken it back and dumped it      and let them do the hard work for it

[twodko]

Jihad on the money grubbing governments!

Yeah, you heard me NSA! F**k off!

[ws23rt]

We are regarded as property of our government. So what ever good fortune we may enjoy (hard work or happenstance) it belongs to the gov.

This may not be the intent of our founders but it is the reality of where we are.

We and commerce are the golden goose. The gov. talks trash to us and takes our food and expects us to keep laying the golden eggs. If this push continues the obvious will happen.

[moparsr2fast]

Now, if one were to simply cash in a coin or two at various locations,  and never mentioned a word to anyone, would it be possible to not raise governmental intervention.... at least in this instance?

[dual fours]

History, what a great Crystal Ball to look into.

[polywideblock]

we call it eagle eyed hindsight 

[dual fours]

Now, if one were to simply cash in a coin or two at various locations,  and never mentioned a word to anyone, would it be possible to not raise governmental intervention.... at least in this instance?

Two words, GREED & JEALOUSLY

[stripedelete]

The way the article reads, the lawyers are the only ones that know the identity of these people.  Is that right or did I miss something?

Regardless, if Lloyd's of London can claim ownership of treasure sunk in the 17th century, the Feds will certainly try to prove it was from the mint robbery and therefore........

As to the mint robbery, did the finders miss that in their research?   IMO, that robbery makes the case to stay quiet and or melt it down.   And as already mentioned, anyone and everyone related to anyone in the chain of ownership on that property is lawyering up.

This will be fun to watch.

[twodko]

And the only ones who will truly benefit from this, free and clear, are the dirty shysters on all sides.

Help keep our environment clean and healthy......disappear a shyster or politician today. 

[dual fours]

It would be a shame, but most of it would have been melted down and slowly sold off from my hobby, Basement Jewelry Repair.
Looks like the "Saddle Ridge Hoard" is polished and packaged and ready for sale.
Hope they have a "Treasure Hunters License, Permit"?

[Chad L. Magee]

It would be a shame, but most of it would have been melted down and slowly sold off from my hobby, Basement Jewelry Repair.
Looks like the "Saddle Ridge Hoard" is polished and packaged and ready for sale.
Hope they have a "Treasure Hunters License, Permit"?

I noticed that the gold coins had been conserved (ie expertly cleaned) before slabbing.  If you look at the coins in the pictures before removing them from the container, they did pick up rust spots on the exposed areas.  That is something that would not likely just wash off with water.  Gold can stain if stored wrong with metals that oxidize like iron.  I wander how much time was spent to bring them back to near mint luster as shown in the slabs....

I am not slamming the coins, just curious on what was done to them....

[Indygenerallee]

I would have melted those down the instant I dug them up.... I have seen this time and time gain "Hello were from government, please give us our cut" F the government..

[dual fours]

I am not slamming the coins, just curious on what was done to them....

Yes Sir they did a excellent job on the coins.

But on the other side of the coin , should they not have cleaned them ?

[ws23rt]

I am not slamming the coins, just curious on what was done to them....

Yes Sir they did a excellent job on the coins.

But on the other side of the coin , should they not have cleaned them ?

A good question.  I hear about patina as adding value to some things. I also hear that cleaning some things reduces value

The best bet is to research that collector market for the way to go for top value.  Collectors are an odd group and tastes change

[Chad L. Magee]

Yes and no.  Those coins were professionally cleaned by trained people, but at a price.  Right now, they look almost perfect, too perfect to be exact.  The problem with them comes down the line in time when they start to tone (ie. oxidize or rust if you prefer) and develop non-regular patterns in the toning because of the techiques used on them.  Well earned (natural) beautiful toning can actually add value to coins, expecially proof silver ones.  Gold does tone, but it takes a much longer time to do than silver or copper.  Once this shows up as damage, the coins are devalued accordingly (and cannot be fixed easily).  This is a different process than taking agressive pads (sandpaper) to the coin to "shine" them up pretty or hand cleaning them with acids (whizzing) to make them clean.  When that is done to a coin, it almost always reduces the coin's value.  I was guilty of that with a poor grade 1819 large cent that I used to clean with erasers as a kid, just to make it look "new" again....   

[Ram07]

I'm thinking they should have just gone to Pawn Stars, he would have called a buddy in, and offered 'em $50 a coin...

[Mopar Nut]

I'm thinking they should have just gone to Pawn Stars, he would have called a buddy in, and offered 'em $50 a coin...

I would pawn one coin at a time.

If I was to find the gold coins on my property and had to turn them over, I would charge rent, $1,000,000.00 a day.

[69rtse4spd]

Have to prove that these are the coins THAT were stolen, the gov. will somehow prove it. What is the limit on theft cases (how long are they open) 150 years seams a little long to keep a case open. They never should have said a thing, melt them down, screw the tax man.

[Mopar Nut]

Here's one guy's take that the coins might not be from the 1901 heist.

http://www.nbcnews.com/news/us-news/bunch-bullion-dealer-says-gold-coin-hoard-not-heist-n44256

[polywideblock]

hope his right       
but knowing governments it will be up to them to prove that the coins aren't from the robbery not up to the government to prove they are

[Mytur Binsdirti]

hope his right       
but knowing governments it will be up to them to prove that the coins aren't from the robbery not up to the government to prove they are

Try fighting the US government and see how long that takes and how much it costs. 

[polywideblock]

exactly   

and they will try to seize  coins if they get serious  and then make you get them back if you can afford it and don't die while waiting, how long did it take mel fisher 

[4cruzin]

I heard that they decided that the coins are not from the heist and they get to keep them . . . I'm sure Uncle Sam will still get their part!   

[polywideblock]

 that would be good news     tax at the maximum allowable rate       

[Mopar Nut]

I found a cache of gold coins once...but my kids opened them all and ate the chocolate.