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.
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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 ...
No, they weren’t. The mint stolen coins were $30K of ALL $20. This included other denominations, and mint marks.
Actually, I did think about that. I think the appraiser should be taken out and shot for leaking it, if that's how word got out. He/she put them at risk for thieves.
So you believe the government doesn’t have a strong financial interest, given that confiscation makes them the owner of the property?
Buried in the ground? Property sold? Abandoned.
Lying on the ground? Now, we would have a point for discussion.
Why should the government decide?
There are laws that say you can’t take more than $10000 in currency out of the country without declaring it. Since the face value was only $27000, I wonder if they could tale it out $9000 face value at a time. That would be one way to avoid the IRS.
And how do you plan to get the coins out of the country and what would you do if they are found as you go through customs?
The were valuable enough that they could have slowly moved them outside of the country over many different trips over years.
Even if they didn't open their mouths and it was the dealer who outed their story, they got greedy and should have done the whole thing much slower.
First article I read about these people, I said they were stupid for making anything public. Each subsequent article only reinforces that first impression.
Many of these rank in the top of the realm of these series coins. 13 or so are over or tied with the finest known examples. The difference in price for 1 grade level can be an order of magnitude.
With coins like these you have to get them certified, but the best way would have been to filter them in and merely claim a relative left them to you 30 years ago and you never knew what they were really worth over the gold content.
Say a relative left them, you never knew they were worth anything over gold content and had them in a closet for 20 years...
Furthermore: What did their real estate purchase agreement state? Did they buy the entire property, with free and clear title to everything contained therein? Second, how can the state prove that those coins must certainly have been the stolen ones? Could no one else have amassed a fortune that large, and hidden it? Seems the state would have to prove by some physical evidence that certainly connects those coins to the heist. But there were millionaires even back then, and $27,000 would have been but a fraction of such a person’s wealth.
Nobody covets like the state covets.
The only facts certain in such a situationis that its not yours, “you didn’t build that”, yadda yadda yadda.
I bought about a thousand ounces of silver on there for as much as 20% UNDER spot when silver was ~$6/ounce and also populated a good chunk of my slabbed Morgans there at awesome prices...
Where do people get this crap??? The 7.5 million coin was the King Farouk coin.
Langbord GAVE all hers to the secret service/treasury for them to verify them. She is the stupidest human to walk earth...
Better call Saul.
all the more reason to STFU and cash in. And stay quiet.
“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.”
Funny thing is, if I had $10 million I’d be buying a lot of gold coins. Why sell them all, or so many?
That’s a good question...but given the situation I’d probably think of something.
Private jet maybe.
...
If I found 10M in gold coins I’d be an expat in hours.
Call me when the revolution starts and I’ll be right back until then the US can shove it.
Its over.
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