Couple finds Millions in rare gold coins

SAN FRANCISCO (Reuters) - The currency firm representing a California couple who found $10 million worth of rare Gold Rush-era coins buried on their property says no valid claim to the collection has emerged, despite rumors that the stash was swiped in a 1901 heist.

A sale of the treasure trove, which includes 1,400 gold pieces in nearly mint condition, will proceed as planned, said coin expert David McCarthy of currency firm Kagin's.

"To my knowledge, no legitimate claims have surfaced, and I don't think that any will," McCarthy told Reuters.

Theories about the history of the Saddle Ridge Hoard, named by the owners after an area of land where they unearthed the coins in April, have emerged since the discovery was made public last week.

The coins were discovered buried in eight decaying metal cans on the couple's property in California's so-called Gold Country.

A Northern California coin collector and self-described historian had floated a theory that the coins were robbed from the San Francisco U.S. Mint in 1901.

"We do not have any information linking the Saddle Ridge Hoard coins to any thefts at any United States Mint facility," U.S. Mint spokesman Andy Stump said on Wednesday.

McCarthy said it would have been extremely odd for a mix of gold pieces, dating to the mid-to-late-1800s, to have been stored at the U.S. Mint, a coin manufacturer.

"It's such a far-fetched theory that in order to take it seriously you have to be ignorant about how the U.S. Mint would have operated," he said. "How many factories do you know that keep inventory ... 40, 50, 60 years old?"

Kagin's has plans to sell the coins on online retailer Amazon.com for the couple and to display some of the pieces at the American Numismatic Association show in Atlanta later this month.

The couple, who Kagin's has identified only as Mary and John, said in a statement that they would give some of their earnings from the coins to charity and family. They also plan to keep a sampling of their find.

[Sean88gt]

Didn't work for that dude in Farmers Branch.

Then he didn't satisfy the elements.

Generally it's applicable to property and you have to be open about it. So possess it and say "fuck you, I'm staying"

Didn't work for that dude in Farmers Branch.

[TeeShock]

So if I find something of value like that, just don't say shit and sit on it for a while?

How many golden dildos are you hiding up there, captain anus?

[Sean88gt]

So if I find something of value like that, just don't say shit and sit on it for a while?

Generally it's applicable to property and you have to be open about it. So possess it and say "fuck you, I'm staying"

[lincolnboy]

[ame]http://www.youtube.com/watch?v=aNUs1A_sUCc&feature=youtube_gdata_player[/ame]

[lincolnboy]

well, if.they dont get to keep it, they wont lose any thing.

[Unicorn Jeff]

Bullshit. The finders hold no ethical or moral capital in this situation. They only fucked up by saying anything to anyone that felt the need to spoil their party.

Look up Adverse Possession - you can legally acquire title to property if you squat long enough and do so according to statute.

So if I find something of value like that, just don't say shit and sit on it for a while?

[Sean88gt]

There's no statute of limitations on ethics and morality, Sean. NONE.

Bullshit. The finders hold no ethical or moral capital in this situation. They only fucked up by saying anything to anyone that felt the need to spoil their party.

Look up Adverse Possession - you can legally acquire title to property if you squat long enough and do so according to statute.

[DON SVO]

Why? What is the statute of limitations? If giving back to the original owner, then the ORIGINAL owner should be forced to stand up and collect them. That isn't going to happen, so the current family can join current blacks and they can both bitch about how wrong the 1800's were to "them."

There's no statute of limitations on ethics and morality, Sean. NONE.

[Sean88gt]

Especially gold coins in mint condition where the damn evaluator even says, "wow, this coin is 150 years old, it's super, super rare... period... and this one has never touched a cash register. As a matter-of-fact it appears to be a personally minted post-Civil War coin from a personal collection." ... You'd figure that might be a tip-off that you have someone else's stuff.

The flip side is that, theoretically, those coins should be given back to the family of the rightful owner.

Why? What is the statute of limitations? If giving back to the original owner, then the ORIGINAL owner should be forced to stand up and collect them. That isn't going to happen, so the current family can join current blacks and they can both bitch about how wrong the 1800's were to "them."

[DON SVO]

You find stashed gold from the 1800's you better be prepared to invest some forethought, they didn't, they are going to get fucked without a single kiss on the back of the neck.

Especially gold coins in mint condition where the damn evaluator even says, "wow, this coin is 150 years old, it's super, super rare... period... and this one has never touched a cash register. As a matter-of-fact it appears to be a personally minted post-Civil War coin from a personal collection." ... You'd figure that might be a tip-off that you have someone else's stuff.

The flip side is that, theoretically, those coins should be given back to the family of the rightful owner.

[Sean88gt]

The other, more hardcore version would be to say (after valuation) to their private coin broker: "there's no way we can sell the ultra-rare coins. They're non minted one-offs that will throw instantaneous red flags... melt those down, sell the gold from them. Sell the coins that can realistically hit market without causing a ruckus. We will give you a 10% service fee. Call us as it's getting done, we're moving to Belize."

Hindsight is 20/20

You find stashed gold from the 1800's you better be prepared to invest some forethought, they didn't, they are going to get fucked without a single kiss on the back of the neck.

[DON SVO]

Yep. Fucking idiots. They should have got that shit out of the country with promptness, then sold them through a broker to collect full value.

The other, more hardcore version would be to say (after valuation) to their private coin broker: "there's no way we can sell the ultra-rare coins. They're non minted one-offs that will throw instantaneous red flags... melt those down, sell the gold from them. Sell the coins that can realistically hit market without causing a ruckus. We will give you a 10% service fee. Call us as it's getting done, we're moving to Belize."

Hindsight is 20/20

[Sean88gt]

nailed it!

Yep. Fucking idiots. They should have got that shit out of the country with promptness, then sold them through a broker to collect full value.