This is probably one of the better way to save your money from the bankrupt state.
Which is exactly what some fool thought 100 years ago when they buried and lost these coins.
Tin cans filled with $10M in gold coins found buried in California
51–60 of 105 posts
Re: Tin cans filled with $10M in gold coins found buried in California
#52Because paper money was illegal in California until the 1870s My, how times have changed.
Is that sarcastic? Because in many states, having "enough" paper money is reason enough for the police to take it and harass you. Even without charging you with a crime, mere possession of cash is enough.
Re: Tin cans filled with $10M in gold coins found buried in California
#53My 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.
Is the mono lisa only worth $2.50 for the price of canvas, paint and wood frame? Old paint at that!
The price of a collectable is because someone else (not necessarily you) values it. And the odds are that many other wealthy collectors would value it at the same price, allowing the buyer to hold it and then trade it later for similar value.
Re: Tin cans filled with $10M in gold coins found buried in California
#54Earlier quoted context omitted.
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…
Wow that's so messed up. The Gold Reserve Act, too. It seems extremely "un-American" for the government to force people to sell their gold to the treasury. OTOH, so do a lot of things in hindsight, like the Vietnam draft. (Can you imagine US citizens today being forced to fight overseas?) Was this a common viewpoint when the act went in, or it decades of history since colouring my vision?
They immediately revalued the price of gold afterward so I'm sure it was seen as theft by the govt.
Re: Tin cans filled with $10M in gold coins found buried in California
#55Doesn'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.
I think the previous poster was referring to executive order 6102 (April 5, 1933), which seized gold within the United States, and criminalized the possession of the specie.[1]
Re: Tin cans filled with $10M in gold coins found buried in California
#56Earlier quoted context omitted.
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.
I read story a while back about a plumber who found a box filled with thousands of dollars...behind a wall after he knocked a hole in it. The owner of the house offered him 10% as a finder's fee, but he demanded more and ultimately sued her. The story of the law suit led to the children of the previous home owners filing their own law suit claiming they were entitled to the money...and they won everything. The woman…
Re: Tin cans filled with $10M in gold coins found buried in California
#57This story made me smile. Legitimate buried treasure!
For anyone else who thought to check, no the photos do not appear to contain any GPS coordinates in the EXIF data, so they have the treasure hunting grounds all to themselves.
Re: Tin cans filled with $10M in gold coins found buried in California
#58My 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.
Is the mono lisa only worth $2.50 for the price of canvas, paint and wood frame? Old paint at that! The price of a collectable is because someone else (not necessarily you) values it. And the odds are that many other wealthy collectors would value it at the same price, allowing the buyer to hold it and then trade it later for similar value.
Indeed, but here it's something that has two well understood prices. One, currency, which doesn't change over time, and two, gold, which fluctuates but generally increases over time. And despite being composed of these other things it has a third almost-totally-unconnected price related to artificial scarcity! I think that is super neat. It may also signal that humans are totally insane, but no matter.
Re: Tin cans filled with $10M in gold coins found buried in California
#59Earlier quoted context omitted.
I read story a while back about a plumber who found a box filled with thousands of dollars...behind a wall after he knocked a hole in it. The owner of the house offered him 10% as a finder's fee, but he demanded more and ultimately sued her. The story of the law suit led to the children of the previous home owners filing their own law suit claiming they were entitled to the money...and they won everything. The woman…
http://blog.cleveland.com/metro/2008/12/whatever_happened_to...
I figured that some crazy shit like that would have happened somewhere. Doesn't surprise me that it was fellow Buckeyes.
Re: Tin cans filled with $10M in gold coins found buried in California
#60Hoard of uncirculated coins in chronological order found buried under a tree? Isn't that the likely result of a robbery?