Skip to comments.$10M Gold Coin Hoard Found in Yard May Have Been Stolen From Mint
Posted on 03/04/2014 4:39:40 PM PST by Extremely Extreme Extremist
A California couple who found a stash of buried gold coins valued at $10 million may not be so lucky after all. The coins may have been stolen from the US Mint in 1900 and thus be the property of the government, according to a published report.
The San Francisco Chronicle's website reported that a search of the Haithi Trust Digital Library provided by Northern California fishing guide Jack Trout, who is also a historian and collector of rare coins, turned up the news of the theft.
The California couple, who have not been identified, spotted the edge of an old can on a path they had hiked many times before several months ago. Poking at the can was the first step in uncovering a buried treasure of rare coins estimated to be worth $10 million.
(Excerpt) Read more at gma.yahoo.com ...
Well, they got on TV didn’t they?
Say buy-bye to your new-found wealth.
Finders isn’t always keepers.
The government wasn’t satisfied with the 50% tax burden. They want it all!
>>Why, in this day and age of out of control government, would you want to report something like this? Just STFU for a few months, go see a reputable coin collector through a third-party, and cash in.
I knew this would happen as soon as I saw the story. The gummint decides who wins and loses, and they didn’t give to the OFA first.
You’re right. Sell one coin at a time....in a foreign country if possible.
IDK what exactly the truth is, but the cover story ain't it. Time will tell.
They should be many thousands of miles away by now, on a nice warm beach somewhere
And it may have been buried in the 1930’s as a big FU to FDR...
No kidding, who didn’t see this coming.
Hell, they ripped off Mel Fisher after he found the Atocha, off of the Florida coast, as if our govmnt has any rightful claim of a 1622 Spanish ship wreck, at any level at all is total folly.
I saw this coming a mile away probably good Cali liberals who trust their precious big government first.
Stolen in 1900? What the heck is the statute of limitations on stolen gold? I doubt it is more than 100 years.
They should have only reported the find as $10,000 and hit the boogie down right after that.
Never tell the authorities that you found that much. People should have learned by now to always under report.
Even if the gold was stolen or not stolen I’m sure the state or the feds will make up some nutty story to get the coins and bury the finders in legal redtape and attorney fees.
They should have melted the coins down in the garage with a propane torch and sold it as scrap gold over a period of months.
And do it on a cross country trip. Spread it around.
I once had an experience where I found myself instantly more wealthy. I regretted telling anyone about it. These folk should have never said a word.
Not too bright to disclose this were they?
Probably about 7 years, but that just means the original thief can't be prosecuted. That doesn't mean ownership transferred to the thief or anyone taking possession subsequent to the thief. If there was a thief. I don't know one way or the other what happened here and how those coins came to be located, but I do agree that these people should have been more careful before going public with their find.
This is bullshit. It’s not the coins lost from the mint. Any media speculation as to it being so is just to gin up envy and lawyer greed...
I PRAY they are SUPER LIBS!!!
So they took million dollar coins and put them in cans of dirt? Yea, right...
That’s just about the stupidest comment with respect to this story I’ve heard... congrats.
Just curious, any anecdotes about what kind of things you had happen as a result if talking you would be willing to share?
It isn’t THAT stupid. Flushing 12 million in numismatic value (coming with extremely high risk of confiscation), in exchange for a far safer 2 million in scrap value is very rational for some people’s situations.
Risk,,,, Benefit. Its a balancing act
The statute of limitations expires in 7 years, after which you get to keep the gold, even if you robbed bars of gold bullion out of the U.S. Government repository at Fort Knox, so long as you can prove you remained in the jurisdiction for the full 7 years.
Stupid is as stupid does. Anyone could see this coming mile away, and they deserve everything that they won’t get. They should have said nothing to anyone, set up a dozen different companies in different states, and gradually sold off the coins over 10 or 15 years.
I sincerely hope that these idiots are big government liberals, since it would be the height of irony for them to have been screwed by the very government that they worship.
Family story is that my great grandfather did just that. Wonder how far away from where they lived these were found.
You could have EASILY gotten these to market for the numismatic value. All they had to do was say they were handed down through the family, etc... It’s not to difficult to come up with a plausible story that doesn’t involve putting blood in the water for pestilential bureaucrats or lawyers.
And it is the lawyers who will burn this trove. I already predicted on another thread that there are lawyers right now trying to noodle out that location and as soon as they get it, they will title search that place and contact the surviving relatives of EVERY single person who ever held title to that land and be approaching them with “Do you think there is ANY possibility that you’re [insert relative here] ever stashed things on his former property that he actually meant to be passed down?”
From what other treasure hunters I’ve talked to have told me, you can win every one of those hits, but you end up spending most or all of the treasure defending against them...
As for melting them, I LOVE old real money. That money is the absolute symbol of formerly free America and the sweat of the founders children and grandchildren forging a nation. Melting them is one more tiny step to eliminating the individualist symbolism that represents true American spirit.
Tell that to the people that were stupid enough to send their 10 1933 St Gaudens to the treasury for “verification”...
Grandpap always refered to that time as “Back when Roosevelt stole everybodies gold”.
Roosevelt ranks way up there in my top American douchebags list.
Unlike other metals, gold does not deteriorate. This is why gold dug out of Egyptian tombs looks as new as the day it was minted or cast into an object.
The above link goes to a pdf document describing the federal statute of limitations and listing the various time limitations. I think the longest time is 20 years for a major art theft. All the others are less except for terrorism, various types of murder, and sex trafficking in children, nuclear weapons, biological weapons; these sorts of crimes have no statute of limitations. I did not read the statute in great detail but the only reference to banks and financial institutions involved murder during the commission of the robbery. I think they are home free. Please note, as always. free legal opinions are worth what you paid for them
Government has mineral & property rights, i.e., gold & cannons, e.g., man digs up circa 1760s cannon in side of back yard hill & Uncle Sam claims it.
I played blackjack. I played fast and heavy. In the matter of a couple months I gathered about $180,000 from this. Of course I didn’t keep a secret, and people I barely remember came out of the cracks. Also some of my family members and my circle of friends seemed to begin treating me differently, like a subtle jealousy. Maybe I was different as well. One guy, I barely knew, asked me to lend him 1200 to buy bike rims for his road bike. He didn’t give me the impression that he had any real interest in paying me back. My girlfriend at the time, complained that I could have afforded “better” gifts. I got rid of her, as fast as I could.
I lost over half of my winnings, before I quit completely, and never brought up the subject again with anyone I knew.
“I once had an experience where I found myself instantly more wealthy. I regretted telling anyone about it. These folk should have never said a word.”
Dont you just hate it when that happens, my long lost beloved uncle castlegreyskull?
“Its not the coins lost from the mint.”
Then its coins used in a drug deal /government
There is some truth to this.
My Aunt who I spoken with maybe 10 times in my life asked me to help her with a mortgage payment when she heard of my good fortune.
I’m reminded of the Aesop tale of the fox and the crow.
I never thought they were lucky in the first place. Given that sewer of a state they live in, and given the proclivities of the federal govt, I knew they'd never see a dime.
And people saying they should have sold it in secret? Yeah, coins worth a million $ each would be a cinch to keep secret.
Me? I would have melted it down for just the gold. At least it would be something. At this point I wouldn't be surprised if the pigs in kal took it and somehow managed to penalize the couple for the discovery.
When you have the superior firepower, there is no statute of limitations.
No they don’t. Unless you’re in some other country. Stuff may fall under the antiquities act if it’s on federal land, but in the west, you can claim minerals on open federal land and they’re yours (pursuant to 1872 mining law et. al.).
East operates under leases.
Private property is also private mineral rights unless they’ve been separated in the past (See the many whiners in N and S Dakota with respect to neighbors making a mint on oil rights while they get jack because they bought land for less that didn’t come with them).
They’ll sell it and realize the money. The government won’t get anything other than taxes on it. The theft stories are just idiot reporters trying to gin up controversy.
The one thing they need to keep secret for sure is the location of their property so lawyers can’t start searching the title chain for heirs of former owners.
One court ruled in 2009 the U.S. Government illegally seized those particular coins. The later jury trial court decision found the coins remained U.S. Government property because they had never been issued and monetized. The plaintiffs said they would appeal the decision in part because the statute of limitations had expired. The latest news seems to indicate the case remains incomplete awaiting a possible appeal regarding the statute of limitations.
A previous St. Gaudens coin was monetized after a settlement because of the statute of limitatoins in part. The coin dealer was not prosecuted because the statute of limitations had expired before the suspect could be prosecuted.
So, the statute of limitatoins is yet another area in which the Federal Government is encroaching upon the just rule of law.
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