$10 million worth of gold coins found.

Discussion in 'Gold Coins' started by mr-dead, Feb 25, 2014.

  1. DanielM

    DanielM Active Member Silver Stacker

    Joined:
    Oct 23, 2012
    Messages:
    2,889
    Likes Received:
    29
    Trophy Points:
    38
    Location:
    Melbourne
    You're atleast the fourth person that I have seen post this
     
  2. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    580
    Trophy Points:
    113
    Four threads merged.
     
  3. DanielM

    DanielM Active Member Silver Stacker

    Joined:
    Oct 23, 2012
    Messages:
    2,889
    Likes Received:
    29
    Trophy Points:
    38
    Location:
    Melbourne
    Well it has to be said...... well that's just gold!
     
  4. hilaire9

    hilaire9 Member

    Joined:
    Oct 15, 2010
    Messages:
    283
    Likes Received:
    4
    Trophy Points:
    18
    Location:
    California, USA
    A tip of the hat to Kagin's for this very clever marketing gimmick.
     
  5. Deebsotronic

    Deebsotronic Member Silver Stacker

    Joined:
    Aug 22, 2011
    Messages:
    436
    Likes Received:
    16
    Trophy Points:
    18
    Location:
    Redback country
    I hope someone gives them better advice than what's in the article -

    They plan to put most of the coins up for sale through Amazon while holding onto a few keepsakes.
     
  6. Byron

    Byron Guest

    Theories as to how the coins got there?

    Bank robbery, hiding the loot.
     
  7. Shamatti

    Shamatti Member

    Joined:
    Oct 9, 2013
    Messages:
    283
    Likes Received:
    2
    Trophy Points:
    16
    Location:
    UK

    If you read the article you would know this is not possible. They are all in the tins in chronological order.

    It was a collector. Either he added a new coin to the tins each year, and then reburied, or he took his collection and put them all carefully into tins for burial.

    I am more interested in why he was never able to return and dig them up - or how long they were there fore. Surely he must have had family he could have told about them on his death bed. So I presume he died accidentally or suddenly.

    //EDIT TO ADD//

    Got me thinking! lol

    The coins cover a 47 year period, so on average someone placed just over 30 coins per year into the tins, just under 3 per month. (2.5 per month) That is a lot of collecting! I reckon someone was putting a few new coins out of his pay packet into tins every couple of months as a personal banking thing. But every few months for 47 years? Nah! That suddenly makes no sense. The average life expectancy in 1840 was 40 yrs, and was still below 50 yrs by 1900.

    Needs more thinking

    Because these are unc condition, there is no way they were all burri3ed at once. EG by the time the later coins were deposited the early ones would have been warn.

    What a cool mistery!
     
  8. Byron

    Byron Guest

    I'm leaning towards robbery esp after this article about an insider stealing similar amounts of gold in San Fran:

    http://www.usmint.gov/kids/coinnews/mintfacilities/sfo/#thieves
     
  9. Shamatti

    Shamatti Member

    Joined:
    Oct 9, 2013
    Messages:
    283
    Likes Received:
    2
    Trophy Points:
    16
    Location:
    UK
    Considerations:

    "By April of 1854, a new facility had been built and its coin presses began turning miners' gold into coins."

    But the found coins are dated from 1847

    "Although most of the coins were minted in San Francisco, one $5 gold piece came from as far away as Georgia."

    "....found him guilty of stealing the $30,000 in gold double eagles....."

    It is not stated that every coin found was a double eagle, but I got this of Wiki.

    1866-S $20 Double Eagle/no motto valued at around $1 million
    1866-S $20 Double Eagle/with motto PCGS MS62+ (finest known)
    1873 $20 Double Eagle (Closed 3) graded MS62 (tied finest known)
    1877-S $20 Double Eagle PCGS MS65 (tied finest known)
    1888-S $20 Double Eagle (four) PCGS MS64 (tied for finest known)
    1889-S $20 Double Eagle (two) graded PCGS MS65 (tied for finest known)
    1894-S $20 Double Eagle PCGS MS65 (tied for finest known)

    A total of 1,373 were $20 coins, 50 were $10 coins and four were $5 coins. They were dated from 1847 to 1894, [....] Most were minted in San Francisco.

    Not sure that the find matches the theft that closely, by coin denomination and type tough. Did they even mint $5 Double Eagles?

    1,500 coins were said to be stolen, 1,427 were found. So it's close enough. One presumes he spent some before getting caught?


    I'd say it was feasible. But not confirmed!
     
  10. centenario

    centenario New Member

    Joined:
    Jan 20, 2014
    Messages:
    72
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Spain and London
    Good job reporting the find lol, now every scammer and con artist in the US is after them and don't forget about the taxman.
    Loose lips sink ships!
     
  11. Old Codger

    Old Codger Active Member Silver Stacker

    Joined:
    May 13, 2011
    Messages:
    4,782
    Likes Received:
    5
    Trophy Points:
    38
  12. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    580
    Trophy Points:
    113
    Geez they're selling them on Amazon. Figure another 10% or so in lost commissions.
     
  13. libertadiac

    libertadiac Member Silver Stacker

    Joined:
    Nov 13, 2012
    Messages:
    323
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Sydney
  14. whinfell

    whinfell Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2012
    Messages:
    3,327
    Likes Received:
    174
    Trophy Points:
    63
    Location:
    Australia
  15. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
  16. Pirocco

    Pirocco Well-Known Member

    Joined:
    May 24, 2011
    Messages:
    4,872
    Likes Received:
    149
    Trophy Points:
    63
    Location:
    EUSSR
    6 months later I had a laugh reading this.

    He should have informed a relative. Or more.
    He chosed to not do so. That's a message on itself.
    Maybe he preferred an unknown finder rather than relatives :p

    And another maybe is that he hadn't any relatives. Well, he had then little reason to care where his stack would end, no?
    It's what it is: a choice.
    Just suppose that he did put them in a bank.
    And then he dies.
    What would the bank do with it?
    They may have (partly) ended up at the relatives he decided to not make aware.
    They may have (totally) ended up at... take a guess here.
     

Share This Page