Skip to comments.Could newly discovered gold coins be the haul stolen by SF Mint employee in 1901? [GOLD COINS]
Posted on 02/26/2014 7:49:29 PM PST by BunnySlippers
The mysterious haul of gold coins discovered by a Northern California couple while out walking their dog and valued at $10 million may well be a previously undiscovered bounty that an employee of the San Francisco Mint was convicted of stealing in 1901.
The couple, who havent been named, stumbled across the haul of 1,427 rare, mint-condition gold coins, nearly all dating from 1847 to 1894, buried in the shadow of an old tree on their Gold Country property in February 2013.
The face value of the Saddle Ridge Hoard, as theyve called it, added up to about $27,000, but some of the coins are so rare that experts say they could fetch nearly $1million apiece.
The couple went public with their amazing discovery on Tuesday, and treasure enthusiasts have been quick to suggest that the coins could be the same ones stolen by Walter Dimmick, an employee of the San Francisco Mint in the late 1800′s, reports Altered Dimensions. Dimmick began working at the mint in 1898 and by 1901 was trusted with the keys to the vaults until an audit revealed a $30,000 shortage in $20 Double Eagle coins, six bags in all.
(Excerpt) Read more at dailymail.co.uk ...
By the time its over they will probly get to keep the can.
Tax-wise, the mint already took the writedown, so it gave up possession of those coins.
You can bet the government will get it’s grubby hands on it one way or another.
Story I heard says the cans were filled gradually with new coins over the course of a few decades, long before the mint theft.
THE STORY SAYS THE FINDERS HAVE TO KEEP THEIR NAMES HIDDEN FROM THE THEIF’S HEIRS. THEY HAVE THE MOST COMPELLING CLAIM ... AND THE STATE.
You’re kidding right? I fully expect a raid by the Treasury folk within the week .... can see the Treasury SWAT team kicking down their door in the middle of the night after shooting their 12 week old puppy.
sorry about the caps.
They should have kept their mouth shut.
There was a case a few years ago where a guy found some gold coins that had never been issued - the design itself had never been issued. They were a new design that were being made when FDR declared it illegal to own gold.
He had to give his 20 or so $10 gold coins back to the gov’t for face value. People claim it was because the coins should have been returned to the gov’t in the thirties - but I’m not sure - I think it was more that they were stolen.
BUT - wouldn’t the statute of limitations for the theft be over by then? Unless the gov’t could argue that the crime of “receiving stolen property” had just occurred.
>>So, does the State of CA claim it, or the thief’s heirs? <<
I am pretty sure the thieve’s heirs would be SOL.
California, OTOH, may unilaterally decide to use Eminent Domain (or something similar).
If I was this couple I would get the heck out of Cali TONIGHT to someplace like Texas that respects property rights. Even then I would plan on escaping to a country that won’t tax or seize the coins (Monte Carlo?) since California could reach them in Texas via subpoena.
With millions of dollars at stake, it isn’t worth the risk of hanging around while California puts dozens of lawyers on the job of finding a way to steal it.
Same story but by Mashable:
If the state doesn’t claim the gold, they will be paying through the nose in state and federal taxes. I would have been tempted to only sell a few coins at a time and keep the rest hidden.
There is no logical reason to shout about finding such things.
All you do us open yourself up to ambulance chasing lawyers and a proctology examination by the Gub'ment...
Go buy a nice floor safe and sell the coins slowly and report it on your taxes when you do and you will do fine.
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