California Couple Finds $10 Million In Gold Coins

[Steve Herschbach]

I like stories like this. A California couple is out walking their dog on their property and the wife decides to look at old rusty can eroding out of the ground. The can is full of gold coins! Several more cans are found and they end up containing 1,427 rare gold coins, dating from 1847 to 1894. All in more or less mint condition and worth a fortune. And all just over the hill from me in Northern California. I really am hot to find a gold coin one of these days; been on my bucket list for a long time, and I am finally someplace where the odds are pretty good.

http://www.sfgate.com/bayarea/article/Gold-Country-couple-discovers-millions-in-buried-5266314.php?gfs

http://www.kaginsinc.com/coins/?p=672

http://www.kaginsinc.com/coins/?p=678

[walkerrj]

Let's hope some lawyer doesn't try to take part or all of that gold.  Remember what happened to part of the gold from the S.S. California and all of the gold from the "Black Swan".  

[klunker]

 I truly hope a deserving couple actually found a valuable treasure on their property.  But there are some things in the story that turned on my flashing yellow light.

[WesH]

Great find.  Now I read that the government is going after them for taxes and because they actually found the coins last year they may have to pay taxes before any sales.  That sucks if its true.  Just goes to show that people need to keep there mouths shut.  Can't stand these government leaches.

  These great finds are still out there.  I remember about 10 or 12 years ago when I was still working for the Youth Authority a hand crew from Pine Grove Conservation Camp was working at a state park up near the town of Ponderosa.  They were cutting and digging out manzanita when one of the wards dug up and old pipe.  The pipe was folded over on both ends and it rattled when shook.  The YA staff unfolded one end and there were, I think, 12 20 dollar gold coins in it.  Probably more there but being a state park and an old Indian site there is not detecting allowed.

Pays to keep a watchful eye when out prospecting.

 

Wes.

[deathray]

Yeah that truly sucks Wes. Didnt know they where going after LAST years taxes! Sounds like a way to steal the treasure outright,along with their property. Hate the crap OUR government does to US!

[Steve Herschbach]

If it all is too much for them I will be happy to trade places!

[Rick K - First Member]

Just like winning the lottery or hitting a huge jackpot in Vegas or at the track. It's income (maybe in this case Capital Gains) you owe tax on it, just like all of us do on our earnings. It's been around since 1917, you think folks might have gotten used to it by now! LOL.

[Steve Herschbach]

I suspect they have good accountants now. They can claim that as legal tender it is all face value until sold. Some of those coins it is impossible to determine the value until sold at auction. Regardless, extensions filed mean they do not even have to file a tax return for 2013 until October so they have lots of time to get it figured out.

 

We all can only wish to have problems like that.

[WesH]

I will never get use to a government coming around and deciding that they are entitled to what I have worked for.  They want part of my gold or earnings from it then they can have someone out there shoulder to shoulder with me digging for it. 

Wes.

[907miner]

Ya I don't understand It, I handed my accountant all my

non winning race track tickets to try and write them as

charity. ....didn't work