Frenchman discovers 220 lbs of gold...

drwstr123

Inherits a house and now owes taxes...
https://www.theguardian.com/world/2016/nov/22/france-man-discovers-gold-coins-bars-house

DrBuster

Cool, but that inheritance tax is ridiculous.

asheland

Why, why, WHY do they tell everybody about this? (facepalm)
This is the most liquid, private gold you could ever want to own.

I just don't understand it.

TomB

First rule when finding 220 lbs of gold; don't talk about finding 220 lbs of gold.

1630Boston

"extremely well hidden"......................................Maybe he only found half of it

ricko

As a cache hunter (metal detecting old homesteads, cellar holes etc), I can tell you, cache hunters NEVER talk about their finds... in the first place, they are far and few between, and second, once publicly revealed, claims will come from everywhere... this guy should have never said a word. Coins and bars are incredibly liquid... Cheers, RickO

Bochiman

I'm all for that person paying the taxes there. France has to pay for the way they do life over there so they need every penny they can get.

CaptHenway

I have never seen a 12 kilo gold bar. I suspect that the story is in error here.

Perhaps it was 12 one kilo bars?

derryb

@CaptHenway said:
I have never seen a 12 kilo gold bar. I suspect that the story is in error here.

Perhaps it was 12 one kilo bars?

The LBMA has approved 12.5kg (400oz) gold bars with a purity of 99.99%. each bar is unique and cast individually, thus they can vary in weight (typically within +-2%).

CaptHenway

That could be, if the bars were misidentified.

Note that the story says variously "two 12 kilo bars" and "a pile of gold bars weighing 12 kilos each" plus 37 one kilo bars.

The entire stash was estimated at 100 kilos. If you had multiple 12 kilo bars there would not be enough room for the other items. Don't know if that picture represents what was in the stash or is just a stock photo, but 5,000 French 20 Francs would weight approx. 32.25 kilos. Plus two 12 kilo bars and 37 one kilo bars and you are up to 93.25 kilos. Any more 12 kilo bars would put you over.

BAJJERFAN

@CaptHenway said:
I have never seen a 12 kilo gold bar. I suspect that the story is in error here.

Perhaps it was 12 one kilo bars?

Wouldn't a 12.5 Kg be just a standard 400 once good delivery bar?

As an aside, where would one get rid of something like that these days since you're looking at around a half million dollars? Seems like your best bet might be a refiner OR maybe someone like Sunshine Minting IF they'd even buy it from you.

CaptHenway

The description is rather imprecise. I will trade you my 12 kilo bars for your 400 ounce bars all day long.

BAJJERFAN

@CaptHenway said:
The description is rather imprecise. I will trade you my 12 kilo bars for your 400 ounce bars all day long.

I bet you would! The 12.5 kilo bar is about an ounce over. 12 kilos would be an odd size, but maybe they used the number 12 for convenience.

TwoSides2aCoin

Didn't appear to be that"well hidden".

CaptHenway

I was reminded of the movie "The Twelve CHairs."

metalmeister

Loose lips.......