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NorCal Couple Finds $10M In Gold Coins; May Be Greatest Buried Treasure Ever Found In U.S.
http://sanfrancisco.cbslocal.com ^ | February 25, 2014 11:40 PM | Staff

Posted on 02/26/2014 6:17:45 AM PST by Red Badger

TIBURON (CBS SF) – A couple has made the buried treasure find of a lifetime – gold coins worth millions of dollars – on their property in Northern California.

A cache of more than 1,400 rare U.S. gold coins, stored in decaying metal cans and buried near an old tree on the property, was discovered as the couple were taking their dog on a daily walk.

The estimated value is believed to be in excess of $10 million and may be the most valuable hoard of gold coins unearthed in North America, according to veteran numismatist Don Kagin.

Kagin, president of numismatic firm Kagin’s Inc. of Tiburon, says the couple want to remain anonymous and plan to sell most of the coins.

Kagin said the gold pieces were struck between 1847 and 1894, many of which are in pristine condition. “This family literally found the pot of gold at the end of the rainbow,” said Kagin said.

The find is now being called The Saddle Ridge Treasure, named after a feature of the family’s property.

After finding the treasure, Kagin Inc. senior numismatist David McCarthy was dispatched to evaluate the coins, according to the press release.

Latest News NorCal Couple Finds $10M In Gold Coins; May Be Greatest Buried Treasure Ever Found In U.S. February 25, 2014 11:40 PM Share on email 417 View Comments Related Tags: Auction, Bonanza, California, Coins, Country, Couple, Don Kagin, Found, Gold, Gold Coins, Kagin's Inc., Tiburon, Unearthed

TIBURON (CBS SF) – A couple has made the buried treasure find of a lifetime – gold coins worth millions of dollars – on their property in Northern California.

A cache of more than 1,400 rare U.S. gold coins, stored in decaying metal cans and buried near an old tree on the property, was discovered as the couple were taking their dog on a daily walk.

The estimated value is believed to be in excess of $10 million and may be the most valuable hoard of gold coins unearthed in North America, according to veteran numismatist Don Kagin.

Kagin, president of numismatic firm Kagin’s Inc. of Tiburon, says the couple want to remain anonymous and plan to sell most of the coins.

Kagin said the gold pieces were struck between 1847 and 1894, many of which are in pristine condition. “This family literally found the pot of gold at the end of the rainbow,” said Kagin said.

The find is now being called The Saddle Ridge Treasure, named after a feature of the family’s property.

After finding the treasure, Kagin Inc. senior numismatist David McCarthy was dispatched to evaluate the coins, according to the press release.

“We all dream about discovering buried treasure; seeing the real thing in person – piles of gold coins encrusted in dirt and rust – the experience was just indescribable,” said McCarthy. “Never in my wildest dreams would I imagine coins coming out of the ground in the kind of condition that I saw in front of me. Many pieces were finer than anything known in major collections or museums.”

Kagin said the previous largest gold coin find in the United States was found in Tennessee in 1985 with coins having a face value of $4,500, eventually selling for around $1 million. The face value of the Saddle Ridge treasure is over $28,000.

About 90 percent of the gold pieces will be available for purchase through Amazon.com, according to Kagin.


TOPICS: Business/Economy; Culture/Society; US: California
KEYWORDS: afterthegoldrush; california; coin; coins; gold; goldbugs; numismatics; severalthreads; treasure
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1 posted on 02/26/2014 6:17:45 AM PST by Red Badger
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To: SunkenCiv

GGG Ping?.........................


2 posted on 02/26/2014 6:18:02 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: Red Badger

Saddle Ridge California is about to be overrun by “bird watchers” with metal detectors.

Very poor opsec, if that’s the real name of the place.


3 posted on 02/26/2014 6:19:18 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: Red Badger

Earlier thread if anyone is interested in reading the comments thereon;

http://www.freerepublic.com/focus/chat/3127146/posts?


4 posted on 02/26/2014 6:19:49 AM PST by deport
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To: Red Badger
The earlier dates are gold rush dates.

Very cool.

5 posted on 02/26/2014 6:20:25 AM PST by Sacajaweau
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To: Red Badger
Kagin said the gold pieces were struck between 1847 and 1894, many of which are in pristine condition.

Fail.

Kagin said the gold pieces, many of which are in pristine condition, were struck between 1847 and 1894.

However, the writer gets several Win points for using "hoard" instead of "horde."

And now that's over with, cool story. I hope the discoverers enjoy their windfall!

6 posted on 02/26/2014 6:20:52 AM PST by Tax-chick (I've forgotten most of those languages, but I remember the joke.)
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To: Travis McGee

Shut up and dig all night. Will Cali “take” it’s “fair” share? Dumbasses.


7 posted on 02/26/2014 6:20:57 AM PST by rktman (Under my plan(scheme),unemployment will necessarily skyrocket! Despite the % dropping. Period.)
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To: Travis McGee

Had it been me, I wouldn’t have told anyone. Just quietly put the items on the market, one by one.

Now the Feds and the State will try to get as much of the hoard as they can get for their treasuries.

In Britain, they would have had to turn the treasure over to the government..................


8 posted on 02/26/2014 6:21:54 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: Red Badger

How wonderful for this couple.

I hope they will hire some very good advisors who will help them take care of the fortune that has fallen into their hands.

I wish them well.


9 posted on 02/26/2014 6:22:18 AM PST by basil (2ASisters.org)
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To: Travis McGee

I wonder if a calculation was made...

(keep your mouth shut = non-numismatic value - 0 taxes)
vs
(get the coins appraised = numismatic value - taxes)


10 posted on 02/26/2014 6:22:29 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: rktman

Cali and the IRS will be calling...............


11 posted on 02/26/2014 6:23:00 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: Red Badger

Here comes the IRS. Should have kept their mouths shut. But they got their 5 minutes of fame.


12 posted on 02/26/2014 6:23:02 AM PST by Patriot365
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To: Travis McGee

“”Saddle Ridge California “”

Do you think that was meant for CA or the TN find???


13 posted on 02/26/2014 6:24:10 AM PST by Thank You Rush
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To: Tax-chick

Splitting infinitives is sooooooo last century..................


14 posted on 02/26/2014 6:24:10 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: Red Badger

Good thing for them this isn’t England


15 posted on 02/26/2014 6:24:50 AM PST by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: Thank You Rush

Reading it again - looks like CA....


16 posted on 02/26/2014 6:25:11 AM PST by Thank You Rush
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To: Red Badger

If history is any indication, this little find is going to destroy their lives.


17 posted on 02/26/2014 6:26:49 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: Thank You Rush

They’ll be ‘Riding high in the saddle’.......................

We’ll All Ride High (Money Bag$)
by White Witch.

We’ll all ride high in the saddle again
We’ll all ride high in the saddle my friend
We’ll all ride high in the saddle again
We are gathered here today to pay respect
To a man who was filthy rich
Though he owned this and that, when it came to friends
He had not a single stitch
Though he played his part to Oscar-winning performance
While his entity lay, while it lay ever so dormant
We’ll all ride high in the saddle again
We’ll all ride high in the saddle my friend
We’ll all ride high in the saddle again
Money Bag$
Money Bag$
Now as a general rule
We don’t usually hand out no flowers
But as I recall it was said near and far
The old man he had powers
May your death find you some love
And may your rest find you some peace
For your life to begin, ole money bags
Your life will have to cease
We’ll all ride high in the saddle again
We’ll all ride high in the saddle my friend
We’ll all ride high in the saddle again
Money Bag$
Money Bag$
We’ll all ride high in the saddle again
We’ll all ride high in the saddle my friend
We’ll all ride high in the saddle again
Money Bag$
We’ll all ride high in the saddle again
We’ll all ride high in the saddle my friend
We’ll all ride high in the saddle again


18 posted on 02/26/2014 6:27:10 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: MrB

Probably. But I’d be wary of govt “promises” concerning found property these days. I would not be surprised if the Cali govt swooped in and seized them all under some kind of arcane and little known “rare antiquities of historical value blahblah” statute.


19 posted on 02/26/2014 6:28:21 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: Sacajaweau

And these poor saps are looking all over the world for gold, and they come from Oregon................

20 posted on 02/26/2014 6:29:43 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: P-Marlowe

Today at this moment, platoons of lawyers are combing the land records. Next, they will find a great-nephew of the original hoarder to claim the coins as his property. California will agree, and the coins will be in probate for another century. Or until they are “lost” and wind up in some Cali politico’s floor safe.


21 posted on 02/26/2014 6:29:50 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: Travis McGee

The Feds or the State might claim it was ‘stolen’ in some long forgotten robbery back in 1862 or some such...............


22 posted on 02/26/2014 6:30:47 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: Red Badger

Exactly. You can bet plenty of state and private lawyers are working it hard, looking for an angle to grab the coins.


23 posted on 02/26/2014 6:31:34 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: rktman; Travis McGee

Agreed.
Everyone has to desperately strive to be, “SOMEONE,” and get their 15 minutes of fame these days.

All the while good, smart and seasoned concealed carrying Americans halt crime and save lives 2 million times a year.
Yet nary a peep about that because they fear retaliation, and thus refuse to tell the press.

Quite sad.

(My apologies as I’m still pi$$ed off about O’Bummer’s pet Holder’s saying that state’s AGs can ignore laws that they don’t like)


24 posted on 02/26/2014 6:35:13 AM PST by RandallFlagg ("I said I never had much use for one. Never said I didn't know how to use it." --Quigley)
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To: Red Badger

“In Britain, they would have had to turn the treasure over to the government..................”

That does not preclude the current dictator from ‘confiscating’ the loot as ‘government property’.....which would not surprise me.


25 posted on 02/26/2014 6:35:59 AM PST by spel_grammer_an_punct_polise (What we need is to sucker the fedthugs into a "Tiananmen Square"-like incident on the National Mall!)
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To: Tax-chick
Kagin said the gold pieces were struck between 1847 and 1894, many of which are in pristine condition.

I agree with the original statement. The years 1877 and 1894 are particularly pristine.

26 posted on 02/26/2014 6:42:56 AM PST by Onelifetogive (I tweet, too... @Onelifetogive)
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To: Tax-chick
Kagin said the gold pieces were struck between 1847 and 1894, many of which are in pristine condition.

I agree with the original statement. The years 1877 and 1894 are particularly pristine.

27 posted on 02/26/2014 6:42:57 AM PST by Onelifetogive (I tweet, too... @Onelifetogive)
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To: rktman

That’s what I was thinking. Find a state with the most tax friendly response to the find, buy a place there and make it your primary residence. THEN make the claim....


28 posted on 02/26/2014 6:44:18 AM PST by cuban leaf
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To: Red Badger

They have got to be among the most stupid people to ever walk the face of the Earth for telling anyone about this, especially being so ‘public’ about it. I most likely would have quietly put it in a safe deposit box at a solid bank and contact a trusted(HA!) attorney to explore options. I know one thing for sure, at around the top of my ‘to-do’ list for that type of situation would be getting the hell out of California.

Their stupidity alone makes them undeserving of such a find, because it will cause them to inevitably lose it in one way or another. Either by government/bureaucrats wanting their piece of the action, or by outright theft from others. I have a bridge to sell them, and I think they’ll actually buy it!


29 posted on 02/26/2014 6:44:57 AM PST by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: Red Badger
In Britain, they would have had to turn the treasure over to the government..................

I've heard that the British government is pretty good at paying an honest value for the found items. They are interested in retaining the historical value of the items, not ripping off the finder.

30 posted on 02/26/2014 6:45:08 AM PST by KarlInOhio (Republican amnesty supporters don't care whether their own homes are called mansions or haciendas.)
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To: basil

Good thing they found those coins on their own property. I wonder how long they’ve owned that property?


31 posted on 02/26/2014 6:50:39 AM PST by smokingfrog ( sleep with one eye open (<o> ---)
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To: Red Badger
Cali and the IRS will be calling

.......one particular comment of the article..."if you like your gold coins, you can keep your gold coins"..

32 posted on 02/26/2014 7:00:42 AM PST by sternup
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To: Red Badger

My Mother is 88 years old, and she said that back in the old days that people usually buried there money by very large old trees. They needed a solid marker so they could come back and find it. In fact about 20 years ago, my parents bought a place and found an old coffee can buried close to a tree, and it had about 10 old silver dollars in it.


33 posted on 02/26/2014 7:02:59 AM PST by txgirl4Bush (Impeach obama)
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To: Red Badger

Their first mistake was telling ANYONE about the find.

The second is being a resident of California - or maybe that’s ‘first’....hard to find a difference, really.


34 posted on 02/26/2014 7:03:04 AM PST by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: Red Badger

While I enjoy watching that show, and admire their passion/efforts, those Hoffman people are so foolish at times. Of course, they aren’t nearly as bad as the show that had the two guys that went to Africa(or wherever it was) and nearly got themselves killed by the locals. The show never did come back on air after that season. I wonder what ever happened with those guys. On the Gold Rush show, I like the “Dakota Boys”. They seem to be the ones that have their heads on straight, most of the time anyway.

That “Bearing Sea Gold” show is just painful to watch most of the time. Not much smarts on that show either, except for maybe two or three people. Nome Alaska looks like a pretty hard-core place. From the air, it looks like a huge junkyard.


35 posted on 02/26/2014 7:04:09 AM PST by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: Red Badger
Cali and the IRS will be calling...............

The county will probably seize their property using eminent domain in the name of making it a worm sanctuary. They'll make the seizure retroactive to before the find.

36 posted on 02/26/2014 7:05:00 AM PST by Cementjungle
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To: KoRn

- - CHOOSE ONE OF THE FOLLOWING :

- oh yeah - contact a “trusted attorney” and……..

- tell you “current wife” (in California!)

- tell your idiot cokehead nephew

- open a law book yourself and ignore anything negative to your own interests or be dismembered, dissolved in acids and and tossed in old rusty cans in the Pacific Ocean above the Arctic Circle -


37 posted on 02/26/2014 7:08:54 AM PST by devolve (- and so I face the vinyl curtain - I will misspell simple words - I do it - my whey)
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To: Red Badger

I guess they never heard of “shovel and shut up”. Now Uncle and every scammer will bee looking for a slice.


38 posted on 02/26/2014 7:09:37 AM PST by JimRed (Excise the cancer before it kills us; feed & water the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
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To: Travis McGee
These people will be divorced and bankrupt in the next 2 years. The government will not allow them to keep a nickle of this treasure. As you know the government confiscated all gold dollars back in 1933 and traded it for I believe $35 per ounce in paper money.

By the terms of that law, these people will probably have to surrender the entire fortune to the federal government and then the $35 per ounce will be deposited in some fund for distribution to the family of the person who buried it there. The theory would be that as of 1933 all those gold dollars became the property of the Federal Government.

As others have said, they should have just buried it in their own backyard and sold it piecemeal. Finders keepers only applies in elementary school playground situations.

39 posted on 02/26/2014 7:12:46 AM PST by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: Red Badger

That’s what I was thinking. I would not have come out with this story, at least until after attorneys had properly researched as to my chances of keeping the gold or profits from it.


40 posted on 02/26/2014 7:15:21 AM PST by NEMDF
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To: KoRn
They have got to be among the most stupid people to ever walk the face of the Earth for telling anyone about this, especially being so ‘public’ about it. I most likely would have quietly put it in a safe deposit box at a solid bank and contact a trusted(HA!) attorney to explore options. I know one thing for sure, at around the top of my ‘to-do’ list for that type of situation would be getting the hell out of California.

^^ This.

41 posted on 02/26/2014 7:21:34 AM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: Gaffer
"Their first mistake was telling ANYONE about the find."

Yea, I'm betting the Feds are already on their way to pay them a visit.

42 posted on 02/26/2014 7:31:54 AM PST by Falcon4.0
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To: Falcon4.0

This find will inevitably be confiscated from him because of historical value, eminent domain or some such crap like that. The media, nor the government are never, ever your friend.


43 posted on 02/26/2014 7:38:54 AM PST by Gaffer (Comprehensive Immigration Reform is just another name for Comprehensive Capitulation)
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To: Red Badger; Travis McGee

These people are, at least based upon the story, blithering idiots.

First of all, you don’t come out in public about it. Privacy is only one reason. Another is that you have to make absolutely f’ing sure that under CA law you have the right to keep the find, and that there are no possible claims against it or your property. As an example, what if this was the product of a bank robbery 120 years ago? I guarantee that some existing bank owns the assets of the bank from which this was stolen, and thus it might have a claim to recover the property...only research could find that out. What’s the freaking rush? Sell a couple and use the proceeds to hire a good lawyer.

Second, even if you do, you do so for a much smaller amount. So how do you know what is a smaller amount? How about actually going to a bookstore and buying a coin valuation and coin grading guide - for cash, far away from your home - and put together your own list. At the very least, you then know if the coin dealer is ripping you off. Alternatively, they could set up several companies and send the coins in (again, over time) to PCGS and have the valuations done that way (plus have authenticity verified and guaranteed, plus have a higher market value due to the coins being “slabbed” by the best in the business).

Third, talk to a tax advisor. I am quite sure that holding the coins for at least 1 year after the find will make the holding eligible for capital gains treatment (which reduces the tax bite). Also, if they change their residence to Texas, Florida or one of several other states with no personal income tax, and THEN sell the coins, they’ll eliminate state-level taxation.

Fourth, why wouldn’t you sell it piecemeal over the course of several decades? F’ing morons, they’re going to lose about 45% of the value to taxes. I’d have gladly advise them how to save money for a paltry 10%.

Yes, these are morons...and they deserve to get a lot less than they could have, all for the sake of publicity.


44 posted on 02/26/2014 7:41:21 AM PST by Ancesthntr ("The right to buy weapons is the right to be free." A. E. van Vogt)
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To: KoRn

It IS a huge junkyard.............wanna buy a used gold mining barge?..............


45 posted on 02/26/2014 7:49:14 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: KarlInOhio

Yes, surprisingly wise for a government. They pay full market price for treasure trove, only claiming pieces (often old Roman coins) that are of historical value. I think that museums get first crack at the trove. Coins museums aren’t interested in are returned to the finder.


46 posted on 02/26/2014 7:52:31 AM PST by hanamizu
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To: Red Badger

Great for them. But now, your gold is worth a teensy bit less than it was a few days ago.


47 posted on 02/26/2014 8:12:10 AM PST by TBP (Obama lies, Granny dies.)
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To: Travis McGee; Sacajaweau; deport; Tax-chick; rktman; basil; MrB; Patriot365; Thank You Rush; ...

48 posted on 02/26/2014 8:46:04 AM PST by Red Badger (LIberal is an oxymoron......................)
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To: rktman

Indeed now they get to pay all them taxes luck and stupidity never blend.


49 posted on 02/26/2014 8:48:51 AM PST by Vaduz
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To: Red Badger

HAHAHA! I remember that one! Frog had a nice tux...


50 posted on 02/26/2014 8:50:39 AM PST by cuban leaf
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