Amazing hoard of gold coins found!

PSASAP · February 25, 2014 9:12AM

A couple in California's Gold Country were walking with their dog, and stumbled upon an amazing hoard of coins:

link to story

bigred1 · February 25, 2014 10:56AM

Walking my dog in the wrong places.

dtkk49a · February 25, 2014 11:31AM

That is what I dream about finding with my metal detector. So awesome. Think about how much is still out there waiting to be found !

WhiteTornado · February 25, 2014 11:33AM

<< That is what I dream about finding with my metal detector. So awesome. Think about how much is still out there waiting to be found ! >>

+1

I just got a detector last summer. Only found a wee bit of pocket change, but I still have hopes of finding better things this year.

grote15 · February 25, 2014 1:11PM

Wow, this is just an incredible story! This is the baseball card erquivalent of finding a vending box filled with NM-MT 1952 Mantle Rookies under the floorboards!

lawnmowerman · February 25, 2014 2:55PM

Awesome story. I saw on tv once how gold prospectors back in the 1800's would stash their finds in holes in the ground then come back and get them at a later date. I guess the guy that buried these ran into trouble somewhere and found himself dead in a hole. No way you wouldn't come back for that much gold. Unless of course he was just a dumba$$ and forgot where he stashed them.

PSASAP · February 25, 2014 2:59PM

That's right. How about the guy in the movie Fargo, who buried all his loot against a fence in the snow. Gotta get me a shovel. :-)

lawnmowerman · February 25, 2014 3:03PM

<< That's right. How about the guy in the movie Fargo, who buried all his loot against a fence in the snow. Gotta get me a shovel. :-) >>

And a wood chipper just in case

zep33 · February 25, 2014 5:59PM

Wonder if the kid in Stand By Me ever found his jar under the porch

Dpeck100 · February 25, 2014 7:48PM

They just covered this on Squawk Box. Some of the coins could be worth as much as a million a piece.

Unreal.

DanBessette · February 25, 2014 8:24PM

Zep33, I love your signature!

dbcoin · February 25, 2014 10:41PM

The best thing was it was graded by PCGS, sister company of PSA. CLCT probably made $100K in grading fees for this one lot.

There was a rumor a month or so ago that the principals of PCGS sold some of their stock (that part is verifiable) to buy some really unique rare coins. I have a theory that they bought some of these coins before they ever hit the market. These are once in a lifetime coins, some the finest known.

It would make a nice PR if one of these coins was the 50 Millionth item certified by CLCT.

itzagoner · February 25, 2014 10:53PM

wow. that's a lotta sparkle. almost enough for them to assist the State with it's dire need for improvement by filling a pothole and paying the Caltrans workers who watched it happen.

Dpeck100 · February 25, 2014 10:57PM

<< The best thing was it was graded by PCGS, sister company of PSA. CLCT probably made $100K in grading fees for this one lot.

There was a rumor a month or so ago that the principals of PCGS sold some of their stock (that part is verifiable) to buy some really unique rare coins. I have a theory that they bought some of these coins before they ever hit the market. These are once in a lifetime coins, some the finest known.

It would make a nice PR if one of these coins was the 50 Millionth item certified by CLCT. >>

DJ Pres HALL Sells 28,000 Of COLLECTORS UNIVERSE INC >CLCT

4:41 PM (GMT-05:00) Eastern Time (US & Canada) Feb 14, 2014

SOURCE: Form 4

ISSUER: COLLECTORS UNIVERSE INC
SYMBOL: CLCT

This might be part of the sale you are referencing. It looks like he sold a decent amount of shares in the November time frame as well.

dbcoin · February 25, 2014 11:56PM

<< 

<< The best thing was it was graded by PCGS, sister company of PSA. CLCT probably made $100K in grading fees for this one lot.

There was a rumor a month or so ago that the principals of PCGS sold some of their stock (that part is verifiable) to buy some really unique rare coins. I have a theory that they bought some of these coins before they ever hit the market. These are once in a lifetime coins, some the finest known.

It would make a nice PR if one of these coins was the 50 Millionth item certified by CLCT. >>

DJ Pres HALL Sells 28,000 Of COLLECTORS UNIVERSE INC >CLCT

4:41 PM (GMT-05:00) Eastern Time (US & Canada) Feb 14, 2014

SOURCE: Form 4

ISSUER: COLLECTORS UNIVERSE INC
SYMBOL: CLCT

This might be part of the sale you are referencing. It looks like he sold a decent amount of shares in the November time frame as well. >>

Yes. I was referring to the November sale and the September sale as well. Hall has held his stock for years and years without selling. Then out of the blue he starts selling. Rumor was he was buying coins. These are once in a lifetime coins. Van Simmons was also a seller and also rumored to be buying coins.

swartz1 · February 26, 2014 12:20AM

When was the actual find? a year ago?

76collector · February 26, 2014 12:21AM

Wow, this is just an incredible story! This is the baseball card erquivalent of finding a vending box filled with NM-MT 1952 Mantle Rookies under the floorboards!

exactly. Heck, it would make my year if I bought a collection estate sale style or was gifted a collection and found ONE Mantle stuck in between all the 80's commons with dinged corners that go in the fireplace. These people find over 1300 coins ! You know the guy has to be bragging to his wife. "I told you this was the right house to buy !" Even though he probably bought it because it was a short drive to work.

dbcoin · February 26, 2014 12:43AM

<< When was the actual find? a year ago? >>

Found Feb 2013, about 1 year ago or so the couple claims. The timeline fits with David Hall's stock selling. Coins found in Feb. Hide for a while and do research. Go to Kagin. Kagin "cleans" coins. Sends to PCGS in summer of 2013. Hall sees coins, makes offer, sells stock, buys coin.

mtcards · February 26, 2014 2:18AM

"Walking the Dog, Walking the Dog, Walking the Dog"

Sorry, reliving my youth there

lahmejoon · February 26, 2014 5:29AM

$4 million in tax, but $6 million in your pocket? I'll take it!

JMDVM · February 26, 2014 7:42AM

"Knock,Knock". Who's there? The IRS......I would have brought in a couple for evaluation, then secretly into the safety deposit box goes the rest until needed.

mtcards · February 27, 2014 1:59AM

Wonder if the government would have paid me 40% had THEY been walking their dog and found the coins

Dpeck100 · February 27, 2014 11:22PM

Gold story

mygotta · February 27, 2014 11:50PM

I would cry happy tears for about 6 months straight if I found that.

Dpeck100 · March 2, 2014 11:29AM

Interesting move higher in gold prices tonight.

Kitco

swartz1 · March 2, 2014 11:46AM

$13 ?

Dpeck100 · March 2, 2014 11:52AM

<< $13 ? >>

In that range. Was a little higher.

Equity futures are lower and bond prices are up. Sometimes these knee jerk moves on a Sunday night during Asian trading reverse in the overnight session so it will be interesting to see where markets are in the morning. There was a sharp move off the highs in the market in the late afternoon Friday so the stakes have gone up for sure.

Gold has been firming for weeks and tonight's high print puts it at a at a new intermediate term high.

swartz1 · March 2, 2014 7:25PM

Good info...

Dpeck100 · March 2, 2014 7:33PM

Gold reached $1,351 a few hours ago and is currently at $1,346.

The SP 500 futures are 20 points below fair value with a global sell off in equities taking place. Treasury bonds are adding to their gains as well.

Today will be a very interesting session for sure.

PSASAP · March 3, 2014 9:36AM

It seems like the gold may have a rightful owner after all, Uncle Sam.

link

JMDVM · March 3, 2014 10:11AM

Like I said before, they should have kept it to themselves.....

Ilovecards · March 3, 2014 10:39AM

<< Like I said before, they should have kept it to themselves..... >>

why ? you can still commit tax fraud even if you announce it .. how does that affect anything?

PSASAP · March 3, 2014 11:23AM

Ever hear of a guy named Richard Hatch? He was the Season One winner on Survivor, and he tried to evade paying taxes on his winnings. Can you see why that was a problem?

CNote · March 4, 2014 2:55AM

<< 

<< Like I said before, they should have kept it to themselves..... >>

why ? you can still commit tax fraud even if you announce it .. how does that affect anything? >>

It affected the scrutiny that was brought upon them. Now, they will, in all likelihood get zilch.

CNote · March 4, 2014 4:06AM

It's not a matter of them "needing" to give it back, that's not what I'm saying. What I'm saying is the gov't may pursue the return of their gold. Sorry if being a realist is raining on someone's parade. Reality sucks that way sometimes, I know.

FavreFan1971 · March 4, 2014 4:17AM

Here is the way I see it. $27,000 was stolen from the Mint "back in the day". With the rate of inflation that would be worth approx $750,000 today. Have them return $750,000 to The US Mint and then sell the rest and Uncle same gets another $3,000,000 both sides are winners.

jeffcbay · March 4, 2014 4:21AM

Isn't there a statute of limitations with this stuff?

CNote · March 4, 2014 4:28AM

<< 

<< It's not a matter of them "needing" to give it back, that's not what I'm saying. What I'm saying is the gov't may pursue the return of their gold. Sorry if being a realist is raining on someone's parade. Reality sucks that way sometimes, I know. >>

I think you misread my post, I agree with you. They should have kept their mouth shut. I was commenting about the US Mint wanting those coins back because they were stolen. >>

I did misread- my mistake!!

JHS5120 · March 4, 2014 5:04AM

<< "Knock,Knock". Who's there? The IRS......I would have brought in a couple for evaluation, then secretly into the safety deposit box goes the rest until needed. >>

Tax evasion is always the best option.

PSASAP · March 4, 2014 5:50AM

Now this is a great debate topic! Compelling reasons to take either side. Reminds me of the story about 20 years ago, when the guy bought a Nolan Ryan rookie for $12 at a card store, and the card store owner wanted the card back.

JMDVM · March 4, 2014 1:05PM

<< 

<< 

<< 

<< Like I said before, they should have kept it to themselves..... >>

why ? you can still commit tax fraud even if you announce it .. how does that affect anything? >>

It affected the scrutiny that was brought upon them. Now, they will, in all likelihood get zilch. >>

There are too many people out there that have nothing better to do than rain on somebody's parade. Even if it was stolen from the US Mint years ago, what does that have to do with the people who found it. I don't think the US Mint was actively searching for these coins.

Based on that standard, the museums around the world, especially the British Museum, needs to give back all of the artifacts that were looted from Greece, Rome, and Egypt. >>

Exactly my point/points. Now they probably get nothing. And honestly, is anyone on these boards paying capital gains on any of their card sales? If the IRS comes knocking and asked for their share, how would you react? I suppose that if you have a libertarian point of view, you'd say the IRS is overreaching.

BLUEJAYWAY · March 4, 2014 1:11PM

Just a heads up to all, if you haven'nt already, visit the CU Coin forum. There are 2-3 very informative threads on the gold hoard. The Coin Forum is populated by many experts on coins and the legal/tax issues that may be facing the owners of the hoard.

EchoCanyon · March 5, 2014 1:13AM

Coins could be stolen, article.

magikbilly · March 5, 2014 2:29AM

Mint says not stolen.

Eric

itzagoner · March 5, 2014 2:47AM

<< David McCarthy says not stolen. >>

fixed that for ya.

PSASAP · March 5, 2014 3:58AM

The gold content alone is probably over a million dollars, maybe they should have melted them down.

MinorLeaguer · March 5, 2014 4:10AM

Was said best: Mo Money Mo Problems.

R.I.P. Biggie Smalls

dbcoin · March 5, 2014 4:40AM

<< The gold content alone is probably over a million dollars, maybe they should have melted them down.

>>

about $2M. This was discussed as an alternative in the coin forum.

PSASAP · March 5, 2014 4:22PM

If the gold content alone is $2 million, then the estimate of $10 million for the coins seems awfully low, especially if one coin might top $1 million.

dbcoin · March 6, 2014 12:17AM

99% of the coins are nothing special

I think the $1M estimate is hype. Another similar one sold for $200K recently. This whole hoard is a lot of hype possibly well orchestrated.

Amazing hoard of gold coins found!

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