Posted on 03/04/2014 11:01:21 AM PST by GrandJediMasterYoda
$10M Gold Coin Hoard Found in Yard May Have Been Stolen From Mint
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 abcnews.go.com ...
I'll bet some insurance co. will end up with the whole thing...
This is from today's story (at the link posted).
Of course, buying and burying uncirculated gold coins legitimately is also a stretch of the imagination.
Hasn’t stopped the gov’t from taking it back in other cases.
It’s actually an interesting problem, in a despotic anti-constitutional sort of way.
If the coins were issued by the SF Mint (monetized), they were subject to EO 6102 and needed to be turned in. If they were never issued, they are US government property.
Either way, somebody somewhere did something illegal.
Not for the federal goverment.
These people should have kept up on current events better. There are several instances where people have found uncirculated coins that the feds confiscated.
Let this be a lesson to people to shoot shovel and shut up. Melt it down if you find gold. If you see an endangered bird on your land kill it burn it and bury the shes.
BINGO !! We have a winner.
Finding gold like that is like discovering an endangered species on your property (if I had any).
S S S
or in this case . . . S T F U
A few of the coins from the Saddle Ridge Hoard were actually minted in Georgia, from gold that was found during a gold rush in that state long before the California Gold Rush. Would these Georgia minted coins have been at the San Francisco Mint in 1900?
It appears that EO 6102 (morphed to 6260) was revoked by EO 11825
EO: 6012 made an exception for "gold coins having recognized special value to collectors of rare and unusual coins."
It also says that a person may own 5 oz of gold. That adds up when you apply the loophole to your kids and spouse.
Just think of all the precious artifacts that have been melted down to cast a new coin or hide a theft. Hopefully people with metal detectors choose to show what they find so we can get a better picture of what our past was like.
If stolen, they should get a nice reward for finding it.
Fabulous uncirculated historical gold coins that are melted down are bullion. Now, the next lucky finder knows what to do.
The government would be wise to take their half in taxes, and let the find stand.
The next lucky coin finder will know better.
DAMN - and there’s no edit or delete function on this website. I’m off to see the doc :-}
I missed your /s command, too.
Bay,
I don’t usually pick on typos, unless they’re funny. And yours was funny! No disrespect intended, just fun!
Best,
Bogie
The statute of limitations on recovering stolen property doesn't start to run until the owner knows who has them. So the statute of limitations won't apply here. But the Government will have the burden of proving that these are the same coins stolen from the Mint, which won't be easy.
Id heard it was Earrings,,,,
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