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

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

#31

Post by evan_ »

timmclean wrote: post #10
sebastianavina wrote: post #7

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 clean water will be as precious as the rarest diamond...

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

#32

Post by lutusp »

theandrewbailey wrote: post #30
giarc wrote: post #21

Earlier quoted context omitted.

I own my house but the government keeps mineral and mining rights. Gold's a mineral right?

Depends on where you live. Oftentimes, mineral rights belong to the landowner. They can be sold or leased. I doubt that buried coinage/treasure would be considered a mineral.* *I'm not a lawyer.

Overall, a buried cache of rare coins is much more likely to be regarded as the property of the landholder than the mineral rights. In some land deeds, the mineral and oil rights are simply excluded.

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

#34

Post by hackinthebochs »

iandanforth wrote: post #15

My favorite part about this is why it's worth $10 million. Because it's currency? Nope. Because it's gold? Nope. Because it's collectable? Yes! Really highlights how price and value can come unstuck.

I remember seeing a documentary that made the connection between the evolution of money and the human race's tendency to find inherent value in "collectibles". Stones, shells, jewelry, etc, were all the basis for a currency in various times, and its only because of our shared appreciation for collectibles that this worked.

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

#35

Post by groovylick »

chris_mahan wrote: post #33

In a cemetery? In a grave marked unknown? Is there Ennio Morricone music playing in the background? Is there a closeup of Blondie's cigar?

The Ecstasy of Gold https://www.youtube.com/watch?v=nOr0na6mKJQ one of my favorite movie soundtracks.

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

#37

Post by scott_karana »

xacaxulu wrote: post #36

This is probably one of the better way to save your money from the bankrupt state.

Only if you can anticipate that the value of the metal is still there in 100 years, or that the coins will be worth something as a collector's piece.

Imagine if these were aluminum, which was expensive in the 1870s...

(http://www.tms.org/pubs/journals/JOM/9511/Binczewski-9511.ht...)

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

#40

Post by simlevesque »

theandrewbailey wrote: post #13
ereckers wrote: 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.

What about Israel.
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