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Like coins....look what these folks dug up

N

NCWayne

Well-known Member
Check out this article on a couple in CA that found about $28,000 face value, but around 10 million collector value, in mostly mint/uncirculated gold coins in a bunch of cans buried on their property. Like the article says, it seems like the "pot at the end of the rainbow".....Unfortunately the pots I tend to find have never been full of anything close to gold, but usually something closer to a bulls hind end.....LOL Guess some folks have all the luck, and this can hardly be called anything but that....
What 10 million looks like.....
 
Probably some one from back in the day that did not trust banks but did trust digging a hole and hiding money and then died before they could dig it up. Seem that nothing new happens it just keeps going in circles and it is happening right now with $$ you can not invest and get any thing but a loss
 
That was my first thought too. Look what happened, if it had been in the bank it would have been worth face value on a piece of paper.
 
I hope word doesn't leak out where the place is located. Treasure seekers would overrun the place.
I find it interesting the coins were uncirculated but were of varried type. Had all been identical,it might lead us to believe they were stolen between mint and bank.
 
The folks live in Tiburon, just past Sausalito near the Golden Gate Bridge; they have money. But, they deserve it, it's on their property. What bothers me are the folks who hit the lottery by spending half there welfare checks on tickets.
 
Its the old wives tale POSESSION IS 9/10 OF THE LAW all over again.......That old saying, however, can be for a large part, legally accurate. I recall way back in my law school days in property law class the long deep discussions and well settled body of common law concerning LOST versus ABANDONED and STOLEN property. Personal property (subject to some extent if lost or abandoned or stolen and subject to proof) is legally owned by the true rightful owner, while a "prior peacefull possessor" (even if he stole it) still has superior title to all OTHER THEN a true rightful owner. That means if Billy Bob steals something Bubba cant steal it from him and claim as a defense "Its NOT Billys, he stole it from Jim Bob". As far as the law is concerned, Billy is still a "prior peacefull possessor" so his title is superior above all others EXCEPT FOR THE RIGHTFUL OWNER.

Id guess it would be difficult for anyone to establish legal claim on that find and since it was on the finders property unless the STATE comes up with something, and I wouldn't bet too much against that grrrrrrrrrrr, ITS LIKELY FINDERS KEEPERS...........

Ol John T
 
I dust off the metal detector a couple times a year. . . mostly just find old pieces of iron, Lincoln pennies, common stuff.

I can understand why the couple would want to remain unknown if the coins were truly found on their property. . . also thought it would be a good cover if they had found the coins on state/government property and did not want the stash taken away from them.

Hopefully they will do well with their good luck and I like knowing there is still buried treasure to be found out there. . .
 
It would not surprise me if the government would not take all of this. Remember FDR confiscated all gold in the 1930s. This was probably buried because of the confiscation and that will be the argument of the government that it should have been theirs. I hope not but it sure would not surprise me.
 
I agree, if the Attorney General (State or Federal) wants it you can bet big brother will take it someway........

John T
 
When you buy property you buy the property and the attachements. You don't sell the land and come back to take the fences or tear down buildings. The fact the owner secretly increased the value of the property is a bonus to the buyer. Coming back to claim buried property is like coming back to claim the old growth oak trees after you learned they are worth more than the sales price of the land.

It would actually have made a difference if the man had hidden the coin in a cabinet in the house and simply forgotten it was there. In that case it is personal property that was not intended to be sold and is not attached to the land.
 
Wife said she heard the gubber-in-mint will take half of it for tax. What if they'd kept quiet and just exchanged a little at a time for cash?
 
It will be taxed as "income". No way to turn it into a capital gain. I don't think the government can claim it was earned so they won;t have to pay social security taxes on top.
 
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