Question on gold hoard coins

PTVETTER

I don't understand why Amazon was choosen?

Why not someone like Great collections?

I understand, to some degree why not a super large auction house where some of the coins are overshadowed by the vast number of other coins.

RYK

I like the idea of using Amazon. It is a great way to market to people who currently do not collect coins, especially the younger people who buy EVERYTHING on Amazon. Collectors who want gold coins for their collections will find them, no matter where they sell them. Same with dealers. Brilliant!

tahoe98

...I'm still wondering why they made their find public!!

ricko

I agree with Tahoe98....bad move....Cheers, RickO

rays

<< <i>...I'm still wondering why they made their find public!! >>



I wonder, too. Something about this story doesn't ring true.

3keepSECRETif2rDEAD

In the past 2 days I have heard everyone I make contact with bring up the subject of "dude, did you see all that treasure found…$10 million's worth!" New people, close friends and family members…all of them. These are the same people that think i'm a nerd because I collect coins…

…so I say that there will be quite a bit of "dumb money" or "new money" involved in purchasing these coins…just for the treasure factor alone (and in Gold Country). Maybe a venue like Amazon is a wise way to get that extra (non-numismatist) bidder

Erik

291fifth

Why speculate. This was a business decision. It may prove to have been a good decision, a bad one, or something in between.

LanLord

<< <i>...I'm still wondering why they made their find public!! >>

Well, I guess from a legal standpoint, someone that goes public with their find, sells the coins, pays their taxes doesn't have to keep looking over their shoulder to see if big brother finally figured it out and is coming for their due!

GoldenEyeNumismatics

GreatCollections has a modest audience.

messydesk

The way I see it, Amazon will be like the shiny ads in the pull-out section of the Sunday newspaper or in the middle of some non-hobby magazine ("Genuine U.S. Silver Dollar over 100 Years Old only $39.99!!!!!"). It will reach a large "lay" audience that will be more willing than mainstream collectors to part with large amounts of money for a coin made famous by its hoard status. I'm guessing that few, if any, of the more valuable coins will sell that way.

WillieBoyd2

What makes me wonder is that these coins are in real nice shape, why weren't they damaged or even
bag-marked after being roughly handled and stored in cans for so long?

Is there anyone else who has questions about the now famous "Saddle Ridge Hoard" story?

FullStrike

<< <i>What makes me wonder is that these coins are in real nice shape, why weren't they damaged or even
bag-marked after being roughly handled and stored in cans for so long?

Is there anyone else who has questions about the now famous "Saddle Ridge Hoard" story?

>>




When do I get to see the things? How much I gotta pay?

If too much I can easily spend elsewhere. But still I want to know for curiosity sake. Lay em out already !

Cougar1978

I think they must have checked all the angles of how someone might try to claim it with legal counsel before going public. Still I would have stashed a few hundred pieces away in secret.....in case someone tried to seize it. Nobody would really know what the true inventory really is unless you revealed it.

However, I would be skittish about going public it - its finders keepers looser weepers on something like that. No way I would give it up.

You would have to become a gold specialist to really liquidate that over time - what a fantastic starting inventory that would be to hit the show circuit with. It could take a lifetime to sell them all and keep it under the radar. You would have to do it piecemeal and not travel with more than 100 of those slabs at a time to stay under the radar. Could not slab them all at once either. Some of them looked like they need conserving but others looked as pristine as the day they left the mint.

How bout that 1886-S $10 in PCGS 66? What a fantastic coin to have been buried all that time. I think the fact most were $20 represented some kind of regular savings of business income over a period of time with any fives and tens he got being spent for the most part. Or it could have been loot from a robbery hidden away and the bandits never got to come back for it. I think its smart of them not revealing the location of the property. I think it was somebody doing an accumulation like a 401 K and then he died around 1894. $20 was a lot of money then too so this guy was not making chump change.

As far as using Amazon I thought that was strange unless some kind of deal was worked out. I could not even find a coin section over there.

streeter

I'd think that the added value from the "hoard" label plus Amazon visibility will add enough to the final sales total to pay the taxes.

Unless,

Uncle connects the dots to the SF Mint heist in 1901. I would venture that this has been discussed and dealt with before the announcement of sale. Just my WAG.

Cougar1978

<< <i>I'd think that the added value from the "hoard" label plus Amazon visibility will add enough to the final sales total to pay the taxes.

Unless,

Uncle connects the dots to the SF Mint heist in 1901. I would venture that this has been discussed and dealt with before the announcement of sale. Just my WAG. >>



I would be concerned about that too. I believe the SF mint heist in 1901 was $30,000 face and this is $27,980 face - where is the other $2,020 worth? Also why no coins between 1895 and 1901? IDK what the odds of the $30,000 heist still sitting out there somewhere. Chances are it was spent by the thieves between 1901 and 1933 on the sly. I don't know how anyone could prove they were the same coins either. The sands of time hide a lot of things. I believed they discussed this possibility with legal counsel and possibly rare coin experts along with any other possible angles someone could try to worm their way in to get it.

derryb

Note to self: If you find a coin hoard, submitt and sell them in very small lots.

TwoSides2aCoin

… because Craigslist would invite trouble.

3keepSECRETif2rDEAD

<< <i>

<< <i>I believed they discussed this possibility with legal counsel and possibly rare coin experts along with any other possible angles someone could try to worm their way in to get it. >>



...I agree with this right here...and...it's California baby, many don't like it for many reasons... but it is the biggest State in the Union with regards to political pull in Federal politics. Also, the 9th circuit court of appeal also represents California. I say, this gold gets juiced by the Feds and California and whichever county the coins were found, but the finders get to be keepers in the end

Erik

AMRC

Has anyone come up with the angle that these might have been a stolen criminal hoard? Some robbed a stage coach or something? Not like someone who legitimately owned these to bury them near a tree and forget about them.

tahoe98

Well, I guess from a legal standpoint, someone that goes public with their find, sells the coins, pays their taxes doesn't have to keep looking over their shoulder to see if big brother finally figured it out and is coming for their due!

...I sorta have a different view. I cringe at gubmint over-reach and think I'd stay mute on the find. I still get a sour taste in my mouth every time I see a story about lotto winners getting a cool half their winnings after taxes from the pot! I'd be OK with that if I knew the gubmint would spend it wisely! otherwise keep your paws off my dough!!

FullStrike

<< <i>Well, I guess from a legal standpoint, someone that goes public with their find, sells the coins, pays their taxes doesn't have to keep looking over their shoulder to see if big brother finally figured it out and is coming for their due!

...I sorta have a different view. I cringe at gubmint over-reach and think I'd stay mute on the find. I still get a sour taste in my mouth every time I see a story about lotto winners getting a cool half their winnings after taxes from the pot! I'd be OK with that if I knew the gubmint would spend it wisely! otherwise keep your paws off my dough!! >>




Lucky for you ( and me and everyone for that matter ) the Lottery operators dont let out how much of a cut they take for running these
games. I'm sure that when the Pot jumps up $10 Million , the States and the Game runners are splitting up at least $50 Million in
revenues.

And when someone hits the lottery the Feds and the winning State gets yet another cut.

It's all good though. An extra tax on those that don't understand probability. Keeps our friends in Politics fat and happy to be
serving the people.

BAJJERFAN

<< <i>

<< <i>Well, I guess from a legal standpoint, someone that goes public with their find, sells the coins, pays their taxes doesn't have to keep looking over their shoulder to see if big brother finally figured it out and is coming for their due!

...I sorta have a different view. I cringe at gubmint over-reach and think I'd stay mute on the find. I still get a sour taste in my mouth every time I see a story about lotto winners getting a cool half their winnings after taxes from the pot! I'd be OK with that if I knew the gubmint would spend it wisely! otherwise keep your paws off my dough!! >>




Lucky for you ( and me and everyone for that matter ) the Lottery operators dont let out how much of a cut they take for running these
games. I'm sure that when the Pot jumps up $10 Million , the States and the Game runners are splitting up at least $50 Million in
revenues.

And when someone hits the lottery the Feds and the winning State gets yet another cut.

It's all good though. An extra tax on those that don't understand probability. Keeps our friends in Politics fat and happy to be
serving the people.


If you go to the PowerBall site, I believe they say what percentage of the ticket fee goes into the lottery pool. Also it is winnable and everyone who buys a ticket has an equal chance. Eventually, someone WILL WIN IT so it might as well be me. I have yet to hear of a legitimate winner being screwed out of his winnings, unless there was some kind of hanky panky involved.


>>

1jester

I haven't read the long thread about this hoard, so perhaps this has already been pointed out, but I just wonder why so many people seem to think this kind of hoard was anything but a savings plan. After all, the San Francisco mint was an assay office set up exactly to do that: process all the newly-found gold from that region. So how was any person supposed to do differently with the gold nuggets and dust that he found or accumulated (or traded for other products or services)? He would take it down to the SF mint and have it assayed and be payed in constitutional "legal tender" gold coin - incidentally, it would most likely be freshly minted gold pieces, right? How does this not make sense? Wasn't it even outlawed to use paper money prior to 1870? This seems like a normal hoard to find....wish I could have found it.... LOL