California couple finds $10 million in buried treasure while walking dog

Comments (41)
yorkies1 wrote:

very interesting story

Feb 25, 2014 9:46pm EST  --  Report as abuse
Jay_Hanig wrote:

Lucky bastards.

Feb 25, 2014 10:03pm EST  --  Report as abuse
Jay_Hanig wrote:

Lucky bastards.

Feb 25, 2014 10:03pm EST  --  Report as abuse
Robertla wrote:

“An area of the coin was exposed and the metal looked as if it had just been struck yesterday.”

– how do you authenticate these coins, if they are in ‘new’ condition?

compare the mint markings to museum coins?

can carbon dating reveal when the gold was last in a foundry or a coin forge?

maybe, they were struck yesterday

Feb 26, 2014 5:21am EST  --  Report as abuse
Robertla wrote:

“An area of the coin was exposed and the metal looked as if it had just been struck yesterday.”

– how do you authenticate these coins, if they are in ‘new’ condition?

compare the mint markings to museum coins?

can carbon dating reveal when the gold was last in a foundry or a coin forge?

maybe, they were struck yesterday

Feb 26, 2014 5:21am EST  --  Report as abuse
Jim_Dandy wrote:

Nice retirement plan!

Feb 26, 2014 6:31am EST  --  Report as abuse
wilhelm wrote:

if they’d been excavated properly, we might know more of the history of how and why the coins were placed as they were.

but visions of $$$ got in the way of that.

Feb 26, 2014 8:04am EST  --  Report as abuse
sabrefencer wrote:

congrats to you! wonderful…heck, ive never looked in my back yard under all my trees…maybe ill put on my reading glasses, which magnify period dots to coin dots and conduct my own search…ya never know…

Feb 26, 2014 9:05am EST  --  Report as abuse
njglea wrote:

VERY cool! Do hope they can learn where and who the coins came from so we can hear the rest of the story.

Feb 26, 2014 9:40am EST  --  Report as abuse
Hallo-CA wrote:

The couple is badly adviced. They would be better of KEEPING most of the treasury. Revaluation of (physical) Gold coming soon … Search FOFOA …

Feb 26, 2014 10:47am EST  --  Report as abuse
Dr_Steve wrote:

A Black Swan (apologies to Nassim Taleb).

Feb 26, 2014 11:05am EST  --  Report as abuse

Wonder is this counts as a capital gain for tax purposes?

Feb 26, 2014 11:38am EST  --  Report as abuse
hkrieger wrote:

So that’s where my great grandfather buried his money!

Feb 26, 2014 11:38am EST  --  Report as abuse
mickey58 wrote:

Wonder how much the government will try to grab?? Anyone out there know.

Feb 26, 2014 11:48am EST  --  Report as abuse
robertsgt40 wrote:

Good for these folks. Get the welcome mat out for the IRS. They will be there shortly for their cut they did nothing for. When buried, the gold was worth about $20.50oz. At least now we have a better understanding why the banksters had FDR confiscate our gold.

Feb 26, 2014 12:06pm EST  --  Report as abuse
robertsgt40 wrote:

mickey58–all that the govt can get away with. Think Social Security

Feb 26, 2014 12:09pm EST  --  Report as abuse

@mickey58, if it is indeed a capital gain, it will be taxed (not the government ‘trying to grab’) at about a 28% rate. That is the capital gains rate for ‘collectibles’.

It is so laughable how people like you think that all the services government provides for you should come for free. Why is that?

Feb 26, 2014 12:16pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

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Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

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Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

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Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

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Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

△ ▽

Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

△ ▽

Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

△ ▽

Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

△ ▽

Feb 26, 2014 12:17pm EST  --  Report as abuse
YONATAN wrote:

When will our government extend the unemployment benefits to the two million plus workers which had loss their benefits late December of 2013? While the Republicans are playing politics, these people are facing eviction, hunger, and hopelessness. It’s truly a shame that these same Republicans who claim to stand for “family Values”, have shown themselves to be severely lacking in common decency and values whatsoever. I hope that the public will remember the Republican callousness at next election, and vote them out of office.

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Feb 26, 2014 12:17pm EST  --  Report as abuse
gregbrew56 wrote:

YONATAN,

Please stop spamming the comment sections with your unrelated anti-GOP rants. It makes you look foolish.

Feb 26, 2014 1:59pm EST  --  Report as abuse
Overcast451 wrote:

*Please stop spamming the comment sections with your unrelated anti-GOP rants. It makes you look foolish.*

Indeed a partisan is just someone who’s foolish enough to buy the spin and lies of the holy ‘party’.

Remember Abe Lincoln said that “Some of the people can be fooled all of the time..” ? – That’s a partisan.

Feb 26, 2014 2:08pm EST  --  Report as abuse
Harry079 wrote:

It is my opinion that the IRS could only tax the gold coins at the value of what they were minted at.

Now if they sell them for a huge profit above the mint value that is a whole different animal.

I thought that they capital gains tax was only 15% for that is what guys such as Mr. Berkshire Hathaway pay.

Feb 26, 2014 4:33pm EST  --  Report as abuse

@harry079, the capital gains rate is different for different kinds of investments. For collectibles it is 28%.

http://taxes.about.com/od/Federal-Income-Taxes/fl/Federal-Income-Tax-Rates-for-the-Year-2014.htm

Unless they sell the items they do not pay capital gains. I am assuming a treasure find is a capital gain.

Feb 26, 2014 5:32pm EST  --  Report as abuse
Harry079 wrote:

@USA, I’m not arguing your position, I’m just saying is what they found is still by law legal tender money. Take could take one of those $20 gold pieces to the gas station and only be able to buy $20 worth of gas.

Now if someone in the parking lot of that gas station wants to give them $5,000 for that coin, that’s a different story.

:0)

Feb 26, 2014 5:58pm EST  --  Report as abuse
Reuters1945 wrote:

This story reminds me of a quote I read half a century ago in my youth when obsessed with Greek literature.

I seem to recall it was written by one of the great Greek Poets, perhaps the immortal Aeschylus but I am not at all certain.

If anyone can attach an author to these words I will be eternally grateful. Despite all my efforts at research I have come up empty handed.

The words as I recall went approximately/roughly as follows:

“All alike, each man searching for his fortune,
Yet one man’s aim misses the lucky/happy mark,
While another finds fortune in his lap”.

Possibly written by Aeschylus.

Would some kind scholar come to the rescue ?

Feb 26, 2014 6:45pm EST  --  Report as abuse
Harry079 wrote:

All alike each man searching for his fortune Yet one man’s aim misses the lucky happy mark While another finds fortune in his lap

Feb 26, 2014 9:05pm EST  --  Report as abuse
Cycliste wrote:

Good dog!

Feb 26, 2014 11:57pm EST  --  Report as abuse
mb56 wrote:

“VERY cool! Do hope they can learn where and who the coins came from so we can hear the rest of the story.”
========
I suspect that that’s the LAST thing that the finders want to happen… it would most certainly open up claims by decedents – which due to unsettled law in this area could well be honored. While it’s a fascinating story, I fear the finder’s may have made a serious mistake by even letting the find be publicized. They should have kept their find to themselves, put the coins in a safe deposit box, and sold them off slowly and carefully in a manner to avoid attracting attention to themselves.

Feb 27, 2014 1:07am EST  --  Report as abuse
pungentwords wrote:

the media needs to dig a little further on this one…Kagin’s was involved several years ago in a reported find of the largest gold nugget found in a Sacramento area river that turned up to be less than true…dig for answers on how the coins got there.

Feb 27, 2014 2:34am EST  --  Report as abuse
jbgfour wrote:

Hmmmm, and the couple sure did everything right.
“I picked up one of bags. It was an 1890 $20 gold piece. It was covered in dirt,” McCarthy said, recalling when he first saw one of the gold pieces. “An area of the coin was exposed and the metal looked as if it had just been struck yesterday.”

Feb 27, 2014 3:29am EST  --  Report as abuse
jbgfour wrote:

Yes, remarkable. And a real way with words: ” “I’ve never seen this face value in North America and you never see coins in the condition we have here.”
I assume there is a reason for that too.
And the couple really has a knack for doing everything right. Why are they covered in dirt too? The dirt just works its way into the corroding container and covers everything, of course. I know when I bury my gold coins I like to get a nice dirt packing on them so they won’t rattle around in there, for when earthquakes or nearby fracking is in progress. 

Feb 27, 2014 4:06am EST  --  Report as abuse
TheoPNeustic wrote:

I wonder what the IRS is going to get from that.

Mar 01, 2014 6:38pm EST  --  Report as abuse
ClausRitter wrote:

Numismatists from around the world: “Rarity!, Rarity!” Golden Gate Bridge as a landmark of San Francisco spanning the Golden Gate to the Sierra. You should remember the gold rush. Museums California do not only have valuable coins, but also paintings and graphics of the time.

Coins from the time of the California gold rush of 1848-54
are sought-after collectibles, including evidence of one of the greatest migrations in the States. Literature: “The Gold of the Sierre Nevada”, ISBN: 978-3-86254-970-2, aavaa Berlin. German and many other nations gold dug in the fields of Auburn, Grass Valley or Sacramento, Coloma. Literature 12/2013: “The dead at Fort Point”. ISBN: 978-3-8459-1026-0.

Mar 02, 2014 10:55am EST  --  Report as abuse
shayafriedman wrote:

Hope they do something good with the money

Shaya Friedman

Mar 02, 2014 11:50am EST  --  Report as abuse
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