Live data from Hacker News

Tin cans filled with $10M in gold coins found buried in California

news.com.au

11–20 of 105 posts

Re: Tin cans filled with $10M in gold coins found buried in California

#11
post #3

Doesn't the US Treasury have a history of going around and seizing gold coins? I forget exactly why but I think it was because they were all recalled when we went off gold standard? I vaguely remember people finding these in deposit boxes, sharing it with the news and then magically losing it all when the treasury shows up to seize them. Ah here we go http://en.wikipedia.org/wiki/Executive_Order_6102 not really relat…

It's only the 1933 Double Eagles that get seized, and only because the government's position is those coins were never legally issued, meaning private possession of one could only have come about via theft from the Mint, which makes the coins stolen government property.

Re: Tin cans filled with $10M in gold coins found buried in California

#12

Earlier quoted context omitted.

maybe in 50 years, new cpus or math advancements could brute force wallets and make bitcoins worthless...

maybe in 50 years, new chemistry advancements could turn water to gold and make gold worthless...

maybe in 50 years, we will be mining asteroids for precious metals...

Re: Tin cans filled with $10M in gold coins found buried in California

#13
post #8

I wouldn't go public either. Somebody before them owned that property and I wonder if old relatives could give you troubles.

If it was found on your land, and the deed to that land has been in your name for several years, they wouldn't have legit claim.

Re: Tin cans filled with $10M in gold coins found buried in California

#14

Earlier quoted context omitted.

maybe in 50 years, new chemistry advancements could turn water to gold and make gold worthless...

maybe in 50 years, we will be mining asteroids for precious metals...

maybe in 50 years, we will be mining precious metals for asteroids

Re: Tin cans filled with $10M in gold coins found buried in California

#17
post #4
post #3

Doesn't the US Treasury have a history of going around and seizing gold coins? I forget exactly why but I think it was because they were all recalled when we went off gold standard? I vaguely remember people finding these in deposit boxes, sharing it with the news and then magically losing it all when the treasury shows up to seize them. Ah here we go http://en.wikipedia.org/wiki/Executive_Order_6102 not really relat…

Just 1933 Double Eagles ($20). It's actually a fascinating story ... I'll dig up the link and post an edit shortly. Edit: the essential story - http://en.wikipedia.org/wiki/1933_double_eagle Edit 2: Quick aside: I know the guy who found the 10 additional coins in his vault (Roy Langbord). Super nice guy. I remember when a mutual friend called me up one day and said "So Roy just found 10 1933 $20 gold coins in his vau…

Sssh, we're trying to drum up distrust in the government and drive up the price of our gold holdings here! Get with the program! :)

Re: Tin cans filled with $10M in gold coins found buried in California

#18
$27,000 face value in $10 and $20 gold coins, each gold coin having 0.9675 ounces of gold in them ($10 coins would have had exactly half that amount of gold).

So that is about 1350 $20 gold coins or their equivalent, thus 1300 ounces of gold. At current spot prices of $1340 per ounce, about $1.75 million USD.

IF they are the $20 coins, they probably look similar to these: http://www.apmex.com/product/9119/20-liberty-gold-double-eag...

Re: Tin cans filled with $10M in gold coins found buried in California

#19

Why would you ever go public with this sort of discovery? Seems like it will just create one hell of a headache for the couple who discovered the coins.

They are being pretty cagey about who they are and where they were found. My guess, is that they went "partially" public in order to generate interest in selling these coins at auction, or via some other way to increase how much they can sell them for.
Post reply on HN