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Possible theories for the $10 million in gold coins found in Cali?

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  • Member since
    March 2005
  • From: Lancaster, South Carolina
Posted by Devil Dawg on Friday, March 7, 2014 9:20 AM

Yeah, I was wondering myself how they would know for sure where the coins came from. Coins don't have serial numbers, do they? I know they have mint markings, but not serial numbers.

Devil Dawg

On The Bench: Tamiya 1/32nd Mitsubishi A6M5 Model 52 Zeke For Japanese Group Build

Build one at a time? Hah! That'll be the day!!

GAF
  • Member since
    June 2012
  • From: Anniston, AL
Posted by GAF on Friday, March 7, 2014 1:03 AM

Well, the government would have a hard time legally advocating these were the exact coins stolen from the San Francisco mint, since at least one of the coins was from Georgia.

http://abclocal.go.com/kgo/story?id=9454363

Still not known where these coins came from.

Aliens... the ones from space.

  • Member since
    September 2012
Posted by GMorrison on Friday, March 7, 2014 12:31 AM

Indeed. Now that the finders have a broker, who lives in my town, suddenly the find has been determined to be here too.

Thinkin' about a rack of shovels and a $ 50.00 fee to dig in my back yard, within the perimeter of that future swimming pool of course.

 Modeling is an excuse to buy books.

 

  • Member since
    November 2008
  • From: Far Northern CA
Posted by mrmike on Thursday, March 6, 2014 9:33 PM

To paraphrase a departed member "the world wonders"....or, in the words of an acquaintance who spent a lot of time diving on WWII Japanese shipwrecks, "if I did find treasure, why would I tell anyone?"

  • Member since
    March 2005
  • From: Lancaster, South Carolina
Posted by Devil Dawg on Thursday, March 6, 2014 8:17 PM

Well, according to the news reports, the loot was determined to be stolen from the US Treasury back in the '30s, and the couple that found it will not be getting any money for it.......... Whatever happened to "Finders, Keepers"?

Devil Dawg

On The Bench: Tamiya 1/32nd Mitsubishi A6M5 Model 52 Zeke For Japanese Group Build

Build one at a time? Hah! That'll be the day!!

  • Member since
    January 2007
Posted by the doog on Thursday, February 27, 2014 2:51 AM

Early hoarders....

  • Member since
    September 2012
Posted by GMorrison on Thursday, February 27, 2014 12:41 AM

Oh brother people roll over so easily. There's a bunch of ways to minimize taxes on this. First of all it's a 20% max on capital gains of that size. Second, if that's too expensive for something you found for free, just keep them and no taxes due.

Or, will them to your kids and go die later. Value resets at zero when you die.

The bigger problem is that as soon as someone finds out who you are and where you live, run for your life.

 Modeling is an excuse to buy books.

 

  • Member since
    January 2006
  • From: NW Washington
Posted by dirkpitt77 on Wednesday, February 26, 2014 9:33 PM

Yeah, kinda irritated about that. My great granddad left those there and I inherited them. Didn't have any room in the closet so I let them lie where they were until I could dig them up. Now those people won't return my calls. Guess I'll have to keep this day job a while longer.

    "Some say the alien didn't die in the crash.  It survived and drank whiskey and played poker with the locals 'til the Texas Rangers caught wind of it and shot it dead."

  • Member since
    November 2008
  • From: Central Florida
Posted by plasticjunkie on Wednesday, February 26, 2014 9:18 PM

Cadet Chuck

To heck with the taxes- the gov't has no claim on this.  IMHO.


 
I agree but you know the state and the Feds will claim their tax shares on that plus whatever legalities the laws will claim..

 GIFMaker.org_jy_Ayj_O

 

 

Too many models to build, not enough time in a lifetime!!

  • Member since
    April 2009
  • From: Longmont, Colorado
Posted by Cadet Chuck on Wednesday, February 26, 2014 8:11 PM

To heck with the taxes- the gov't has no claim on this.  IMHO.

Gimme a pigfoot, and a bottle of beer...

  • Member since
    September 2012
Posted by GMorrison on Wednesday, February 26, 2014 5:34 PM

"If you hadn't cleaned them, they'd be worth...".

 Modeling is an excuse to buy books.

 

  • Member since
    November 2008
  • From: Central Florida
Posted by plasticjunkie on Wednesday, February 26, 2014 12:43 PM

Forgot about Roosevelt's exec order of 1933. That sounds like the best reason to hide the loot.

 GIFMaker.org_jy_Ayj_O

 

 

Too many models to build, not enough time in a lifetime!!

GAF
  • Member since
    June 2012
  • From: Anniston, AL
Posted by GAF on Wednesday, February 26, 2014 12:03 PM

This may have had something to do with it.

http://en.wikipedia.org/wiki/Executive_Order_6102

Somebody probably had a stash of gold coins they didn't want the government to steal... I mean confiscate...

  • Member since
    November 2013
  • From: Jerseyville, ON
Posted by elass0wyp0 on Wednesday, February 26, 2014 11:43 AM

Pirate treasure.

  • Member since
    March 2003
  • From: Western North Carolina
Posted by Tojo72 on Wednesday, February 26, 2014 11:30 AM

Thats cool,I read the article.thanks,I wonder what the tax ramifications are for this.I wonder if taxes are due when they sell it off,or right away.

  • Member since
    November 2008
  • From: Central Florida
Possible theories for the $10 million in gold coins found in Cali?
Posted by plasticjunkie on Wednesday, February 26, 2014 10:22 AM

I was reading an article on AOL News yesterday about a couple in California that found on their property 5 buried cans containing mint uncirculated gold coins ranging from 1847 to 1894. The coins are valued at about ten mills! I read some of the possible scenarios in the comments section posted by the readers that made no sense such as they were stolen from Fort Knox which wasn't built till 1937.  Or that the James Gang was responsible. Sounds intriguing except Jesse was bushwhacked in 1882 and the James Gang ventured as far as western Kansas.

I had a theory about the coins, that they were stolen possibly during a stage robbery where the gold was being sent to the banks from the San Francisco mint, but there is almost a 50 year gap in the coin dates which throws in a wrench at my theory.

http://www.cnn.com/2014/02/25/us/california-gold-discovery/

 GIFMaker.org_jy_Ayj_O

 

 

Too many models to build, not enough time in a lifetime!!

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