Couple finds $10 million worth of gold coins in their backyard (1 Viewer)

[gianmarco]

Eureka!

For a lucky California couple, their $10 million pot of backyard gold came with a shadow, not a rainbow.

While walking the dog last February, the couple stumbled across a treasure of 1,427 gold coins from the mid-19th century buried in eight cans in the shade of a tree on their property in the state's famous Gold Country, according to Kagin's, the numismatic firm representing the anonymous finders.

Dubbed the Saddle Ridge Hoard, it is believed to be "one of the greatest buried treasures ever unearthed in the United States," the trade journal Coin Update writes.

The $5-, $10- and $20-denomination coins — uncirculated and in mint condition — date from 1847 to 1894. The majority are $20-denomination Liberty Double Eagles struck at the San Francisco Mint between 1855 and 1894, though one $5 piece came from Georgia. Experts said some might sell at auction for about $1 million.

The Professional Coin Grading Service, which certified the little mother lode, rates more than a dozen as either the finest or tied for the finest known examples of the coins, said firm co-founder David Hall.

He called the discovery "a literal time capsule" of gold coins circulating in the late 19th century.

In an interview with Kagin's, the finders, identified only as John and Mary, described how they came across their Gold Rush fortune on what they call Saddle Ridge:

John: I saw an old can sticking out of the ground on a trail that we had walked almost every day for many, many years.
Mary: I was looking down in the right spot and saw the side of the can. I bent over to scrape some moss off and noticed that it had both ends on it!
John: Years ago, on our first hike, we noticed an old tree growing into the hill. It had an empty rusty can hanging from it that the tree had grown around — that was right at the site where we found the coins… At the time we thought the can might be a place for someone to put flowers in for a grave site — something which would have been typical at the time.
There was also an unusual angular rock up the hill from where the coins were buried — we'd wondered what in the heck it was.
Mary: It wasn't until we made the find that we realized it might have been a marker: starting at the rock, if you walk 10 paces towards the North Star, you wind up smack in the middle of the coins!
Who buried them remains a mystery.

"I don't like to say once-in-a-lifetime for anything, but you don't get an opportunity to handle this kind of material, a treasure like this, ever," numismatist Don Kagin told the Associated Press.

Some of the coins will be on display this weekend in Atlanta at the American Numismatic Association's National Money Show, which runs Thursday through Saturday.

The couple, who are in their 40s and had dabbled in panning for gold, plan to keep a few coins but intend to sell most on Amazon. Mary said they'll use the proceeds to retire debts and help "people in our community who are hungry and don't have enough to eat," along with the arts and "other overlooked causes." They don't plan to change their lifestyle and hope everyone will treat them the same as always.

Mary offered one priceless piece of wisdom.

"Whatever answers you seek, they might be right at home!" she said. "Don't be above bending over to check on a rusty can!!!!"

Wow.

 

[Johnny Rock]

Cool

 

[jamny]

Eureka!

John: I saw an old can sticking out of the ground on a trail that we had walked almost every day for many, many years.

Mary: I was looking down in the right spot and saw the side of the can. I bent over to scrape some moss off and noticed that it had both ends on it!

Wow.

So who found it?

 

[Jobber]

It looks like this gold was from a heist from the US Mint in 1899 and could possibly be confiscated by the government: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

They played this 100% wrong. For any FBG who ever may find a stash of gold coins...don't tell anyone. Don't be too greedy, only sell a little here and a little there. If you have a crapton, like this couple did, save most of it and pass it down to your kids. Then when they get older, they can sell a little here and a little there. Nobody would be the wiser.

 

[fantasycurse42]

If they aren't confiscated, they will have to pay taxes...

Some things you keep private... Like finding a #### ton of gold!

 

[Brony]

It looks like this gold was from a heist from the US Mint in 1899 and could possibly be confiscated by the government: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

They played this 100% wrong. For any FBG who ever may find a stash of gold coins...don't tell anyone. Don't be too greedy, only sell a little here and a little there. If you have a crapton, like this couple did, save most of it and pass it down to your kids. Then when they get older, they can sell a little here and a little there. Nobody would be the wiser.

Where should I bury the dead leprechaun?

I'm just asking for a friend by the way.

 

[fantasycurse42]

It looks like this gold was from a heist from the US Mint in 1899 and could possibly be confiscated by the government: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

They played this 100% wrong. For any FBG who ever may find a stash of gold coins...don't tell anyone. Don't be too greedy, only sell a little here and a little there. If you have a crapton, like this couple did, save most of it and pass it down to your kids. Then when they get older, they can sell a little here and a little there. Nobody would be the wiser.

Where should I bury the dead leprechaun?

I'm just asking for a friend by the way.

Is this an auction?

$12

 

[Scoresman]

It looks like this gold was from a heist from the US Mint in 1899 and could possibly be confiscated by the government: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

They played this 100% wrong. For any FBG who ever may find a stash of gold coins...don't tell anyone. Don't be too greedy, only sell a little here and a little there. If you have a crapton, like this couple did, save most of it and pass it down to your kids. Then when they get older, they can sell a little here and a little there. Nobody would be the wiser.

The coins are too old and the dates too spread out to be from the mint. It's more likely to be from some old hermit who didn't trust the banks.

 

[pantherclub]

It looks like this gold was from a heist from the US Mint in 1899 and could possibly be confiscated by the government: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

They played this 100% wrong. For any FBG who ever may find a stash of gold coins...don't tell anyone. Don't be too greedy, only sell a little here and a little there. If you have a crapton, like this couple did, save most of it and pass it down to your kids. Then when they get older, they can sell a little here and a little there. Nobody would be the wiser.

They played this 100% correctly. By doing your suggestion then they would be breaking the law and looking over there shoulder for the rest of their life. Plus they would not be able to sell the coins without drawing attention. Now at least they get around 2million as a finders fee.

 

[Sarnoff]

It looks like this gold was from a heist from the US Mint in 1899 and could possibly be confiscated by the government: http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1

They played this 100% wrong. For any FBG who ever may find a stash of gold coins...don't tell anyone. Don't be too greedy, only sell a little here and a little there. If you have a crapton, like this couple did, save most of it and pass it down to your kids. Then when they get older, they can sell a little here and a little there. Nobody would be the wiser.

It's incredibly hard to sell a $1mil+ gold coin without raising some questions.

 

[⚡DEADHEAD⚡]

Is the government entitled to the collector value of the coins or the real value adjusted for inflation?

Was there a reward for the return of the coins? If so, would the finders be eligible to collect that, adjusted for inflation?

 

[msommer]

no statute of limitation on this? more than a hundred years later and they confiscate it.

Good thing it will cover the deficit then - or at least buy another hammer for the military

 

[Parrothead]

so the government is going to go on these people's property to confiscate something that may not even be theirs? yeah, nothing could go wrong here

 

[Rove!]

kinda figured the kleptocracy would catch up with them

 

[lod01]

so the government is going to go on these people's property to confiscate something that may not even be theirs? yeah, nothing could go wrong here

Wait until the gov't accuses the couple of going back in time and stealing the coins and burying them.

 

[Sarnoff]

Gov't not pursuing a claim on the coins, they probably came from somewhere else. The couple can keep them.

 

[lod01]

Gov't not pursuing a claim on the coins, they probably came from somewhere else. The couple can keep them.

Other people have tried to lay claim to the money. Kagin says several people have contacted his firm saying their great-grandfather might have some claim or that they were sure the coins came from this heist or that heist. He says he asks the individuals to submit an inventory of what they believe they are the owners of, but no one has taken him up on it yet. When asked if anyone has threatened legal action, Kagin says, “Nothing credible.”

What a bunch of ####### losers. These type of people just need heads stomped into the ground. 100% are either scammers or losers living off the gov't teat and are so ####### stupid that they actually think their claim has a chance in hell with no documentation what so ever.

 

[Scoresman]

Gov't not pursuing a claim on the coins, they probably came from somewhere else. The couple can keep them.

Other people have tried to lay claim to the money. Kagin says several people have contacted his firm saying their great-grandfather might have some claim or that they were sure the coins came from this heist or that heist. He says he asks the individuals to submit an inventory of what they believe they are the owners of, but no one has taken him up on it yet. When asked if anyone has threatened legal action, Kagin says, “Nothing credible.”

What a bunch of ####### losers. These type of people just need heads stomped into the ground. 100% are either scammers or losers living off the gov't teat and are so ####### stupid that they actually think their claim has a chance in hell with no documentation what so ever.

calm down

 

[Daywalker]

Wonder what the value of the coins would be if you melted them down? I assume they have a lot of collector's value but if you melted them down they'd be untraceable.

 

[lod01]

Wonder what the value of the coins would be if you melted them down? I assume they have a lot of collector's value but if you melted them down they'd be untraceable.

Well, one of the is worth over a million $. It is missing 'in god we trust" I believe, making it super rare. Even the lowest priced coin is worth way more than gold value. I think most or all are in the $5k range and up. Each $20 gold coin - Total weight: 33.436 grams. Actual gold weight: 0.9677 ounces. So less than 1500 worth of gold each.

 

[Dr Oadi]

Gov't not pursuing a claim on the coins, they probably came from somewhere else. The couple can keep them.

Oh they will be putting in a claim alright. A claim due by April 15th 2015!

 

[SaintsInDome2006]

Very happy for those folks.