$10M Gold Coin Hoard Found in Yard May Have Been Stolen From Mint

Abc ^ | 3/4/14 | By DINA ABOU SALEM and BILL MCGUIRE

[Abby4116]

Just like the Philadelphia case several years ago.

The problem arises when you get the coins appraised (unless you happen to be an expert and then can value them yourself). Once a dealer knows the value of your coins, it doesn't matter if you tell anyone or not - the cat is out of the bag.

The government got those coins and I guess they will get these also.

[A CA Guy]

Lesson to be learned here is to get rid of something like this a little bit at a time and to not make the news. Never brag about found riches.
Basic tax law covers this by the way.
See Cesarini VS the United States in a search engine.

[Osage Orange]

Bump that!

[Jim from C-Town]

You can not steel from thieves. It is only re-appropriation.

[EDINVA]

If they’d advised the authorities of the one found can, you can bet those authorities would search every inch of their property, and their neighbors’ properties, in search of more gold.

[Vaquero]

Should have melted it down

[17th Miss Regt]

Don’t forget the tax aspect. The gummint might take the whole amount but the couple did find it. So I predict the IRS will go after them for taxes on $10M.

[Kit cat]

They are reporting the coins are in minted order! What are the chances
that they are NOT the stolen coins! VERY STUPID COUPLE,! Should have kept their mouths SHUT!!!

[1rudeboy]

Justify it any way you will, you are still a thief.

[bramps]

https://www.youtube.com/watch?v=-gTqTJEJV_8

how to melt gold

[Albion Wilde]

I’ve made a note to myself, that if I ever fine $10M worth of old gold coins buried in the ground, to keep my mouth shut about it.

Couldn't resist their 15 minutes of fame...

[Sherman Logan]

The face value is supposedly $27k, which would mean the stash weighs 1350 troy ounces. Which would make the bullion value today $1,807,056.

Unless I dropped a decimal or something.

[Fireone]

“Shoot, shovel, and shut up” is a phrase that comes to mind here. Different circumstance, same principle.

[Kit cat]

I would claim income equality!!!

[Sherman Logan]

$27k is the face value of the minted coins. An ounce of gold was worth $20 then. That has changed.

[bjorn14]

Unfortunately, only one country left in the world where you can outright buy a citizenship...St. Kitts & Nevis.... $250K

[Baynative]

Isn’t it up to the gubmint to prove that they are stolen with identifiable lists and numbers and all the other stuff the IRS would require of a private citizen?

[Karl Spooner]

They are reporting the coins are in minted order!

How is that possible?

[kaehurowing]

I would not also be surprised if California laid claim to it. In my state, “historic properties” are deemed to be natural resources that belong to the State.

[WhiskeyX]

The gold coins are theirs to keep, because the statute of limitations expired and made the gold coins the property of whoever possesses them.

You can steal gold bars from the U.S. Government at Fort Knox and get to keep them, so long as you remain in and subject to the jurisdiction of the courts until the statute of limitations has expired.