Posted on 02/28/2014 7:42:55 PM PST by ClaytonP
The Northern Californian couple who found $10 million worth of gold coins on their land could have broken California Law for failing to report their stunning discovery to police, it emerged today.
.....
But, according to Californian Law, the couple should have declared their findings to the police within a ‘reasonable time’ of finding it.
The Californian Civil Code, sub-section 2080, also states that a notice must go in the local paper if the haul is worth more than $250.
Usually, breaking the Civil Code isn’t an arrestable offense but punished with a fine.
.....
But, according to one Gold Country Sheriff’s Department, the matter is taken so seriously that the couple could be called in for questioning and ‘could face arrest’.
(Excerpt) Read more at dailymail.co.uk ...
Jeez. Only the government would call anything worth $250 these days a "haul."
I wish they had..
then I could have been reunited with my great granny’s pin money that much sooner..
:)
It’d be funny if everyone started calling the cops to report finding loose seat-cushion change.
Would you all think for a change? The couple didn't know what they had until they HAD THE COINS APPRISED by another individual. So, the news was out by that avenue.
Dial 911. “Hey I found a dime on the sidewalk”.
The coins were reportedly stolen from the SF mint in 1905. The perpetrator buried them on the property to avoid being caught with them. He hoped to retrieve the coins at a future date. He never returned, or couldn’t remember the exact spot.
I don’t know what the law specifies regarding the discovery of stolen government property. But if the law states that stolen government property still belongs to the government, the couple is SOL.
They made the fatal mistake of opening their big fat pieholes. It’s a teachable moment: If you find millions in gold coins, keep your mouth shut and sell the coins one at a time to different collectors over a lengthy period of time.
CA: A wonderful place except for the taxation, corruption, regulations, crime, government, landslides, earthquakes, water restrictions, fires, pollution, narcissists, and government (again). /spit
I agree. But with as many old gold coins as they found, they’d acquire a reputation pretty quickly as they started showing up in markets. It wouldn’t be too many years before the secret would be out.
Dummy that I am, I’m sure I would have done no better than they did. In my more calm and lucid moments, I like to think I would have gotten a lawyer on my side first before calling the cops.
Rule #2: Hire yourself the smartest lawyer you can find (You can afford it).
Rule #3: Search around for a state or even foreign country whose tax laws are most sympathetic to your situation (see "smartest lawyer" under Rule #2.
Rule #4: Get out of California stat with your find.
Rule #5: See Rule #1.
“According to 1901 reports, 500 coins were stolen by Dimmick - only 73 coins less than the 1,427 discovered at Saddle Ridge.
Uh....I think I’ve either discovered a typo, or a significant math error....
I’m guessing the author meant to assert that “...1500 coins were stolen by Dimmick...”
Deny, deny, deny! “We were just kidding!” “I took Ambien by mistake” worked for Kerry Kennedy, so why not?!
LOL! I bet they’d say, “Great! Turn it in!”
When I was 14 and walking home from school I found a wallet laying at the edge of the road. I opened it and found $320 in addition to tons of stuff like papers and credit cards - all worthless to me. To a kid that was a fortune!
From his driver license I searched through the phone book, called his phone number, and left a message to call me if he had lost something. He called a few hours later and identified his wallet. We made arrangements for him to come to my house and retrieve it.
My mom stood with me when he came to the house (watching out for me). I answered the door, he grabbed the wallet and without a word turned and left. It soured me on the whole good Samaritan thing, but didn’t kill the sense of ethics my folks taught me.
In truth I don’t know what I would do if I dug up a treasure in my backyard. I do know that the last one on earth that I would want to profit by it is the government.
Yes, I totally agree with post #29
Thanks for the education. One of the things I love about FR is the education you receive if you just wait for the more knowledgeable to respond.
Wow, what lack of gratitude...but I think doing the right thing doesn’t require gratitude.
It’s nice that you can be proud of what you did - what a good thing. :-)
When you find a treasure, everyone tries to get some of it.
I imagine these old coins are on the market a lot. Ebay has 78 “1894 gold eagle coins” up now. I would think one could travel around and sell them at various coin dealers. Save the rarer ones till the end. Or for the grandchildren.
At worst, melt them down (ahhhhh! No!!!!) and sell them for the gold value. And at least prevent the gov’t from getting of it.
I kept making the same, second guessing, suggestions.
But.....they did seek professional advice.
AND....it’s a bit tough to unload 1427 gold coins, quietly,...one at a time.
Specially if one or more are worth close to a Million...
Any transaction of $10K or more gets reported.....so, maybe, they’ve done the smart thing.
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