Gold coin hoard found

Freedom was never free, never will be, many paid dearly for it......

 

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Fascinating, if this is indeed connected to that Dimmick person who stole coins from the SF Mint. What do you think will happen? Will the coins be confiscated?

 

I for one are happy for these people that found these coins, i dream finding something like this. i haven't heard to much about the cans that the coins were found in. One news clip showed what looked like a old paint can, has anyone dated these cans, which could give us a idea when they were buried.
Things i have found, gold nuggets, Platinum nuggets, 3 legged buffalo graded AU 58 in a old roll, which i traded for $10 gold coin and $ 1000 dollars. i'm always lookin'...

 

Hey, I lost some gold & platinum nuggets and a 3 Legged Buffalo, those must be mine. LOL Same reasoning though, unless I can prove they're the ones I lost.

 

I think the problem is the fact that the government did absolutely NOTHING to earn that cool $5 mil they are about to receive. To top it all off, that $5,000,000 just gets sucked into a black hole of government waste and over spending. Meanwhile the folks already said they wanted to donate to various charities over an extended period of time. I just have more faith in our fellow humans than a government that is having a hard time practicing what they preach and keeping themselves in check.

Not to mention all the taxes these folks will pay on everything they buy with the money they found. Even at 7% that's like a million bucks for the government.

It would seem that even good karma/fortune aren't free. You gotta pay a tax to be blessed. That's how greedy we've become.

 

If they hadn't slabbed (or appraised) them their tax liability would have been based on melt. (probably day of discovery)

Then they could have slabbed them one at a time to sell off, and pay the gains tax over their melt basis.

If done over enough years they would have had way less tax liability.

They were poorly advised, if at all.

 

Ultimately it's about accountability, never perfect but rough. What did the government do to deserve it? What does anyone do to deserve any $$$? There is money earned through blood, sweat and tears, and the early pioneers you can be sure were paid poorly for mortal toil they engaged in. A couple millennia ago someone commended a poor old lady for throwing in all her money to the temple treasury of the day, out of which funds were used to put him to death. Such stories are all too common, like fire that serves mankind and at the same time presents a mortal threat when out of control. It is impossible to know the consequences of doing the right thing, sometimes people act against their greedy and selfish interests but at least they can sleep better and have a better conscience. Accountability in the here in now vs. in the hereafter. I would rather get things straightened out now.

 

I'm not trying to get into an argument about the validity or lack validity of our taxes. What you said here...that logic could be applied to all income taxes with the same argument. All I was trying to say is it seems like people sometimes forget to think of discoveries like this as a form of traditional income...and it is taxable in the same way. I find it interesting when some people are surprised by that.

 

This article was run earlier in the day, on how the couple broke the law by not reporting their find to the local police: http://www.dailymail.co.uk/news/art...m-hoard-gold-coins-walking-dog-broke-law.html

 

Oh I'm not surprised at all. The government always wants theirs.

These folks should've known better. So I guess in all reality they deserve to pay it if they didn't think things through well enough to avoid it.

My problem is the governments stance. 'Ha you found it, well were just gonna take half'. That sense of entitlement is the worst and taxes as a whole have become quite burdensome.

Income tax
Sales tax
Luxury tax
Capital gains tax
Property tax (land)
Property tax (vehicle)
Inheritance tax
Gasoline taxes (state and federal)
Communication taxes

That's a lot of money that gets taken out of my hard earned dosh, not only does it get wasted, but it's not even enough for our government and we are miraculously in a $17 Trillion dollar debt hole.

No the government doesn't deserve that $5 million. They just don't. Fate smiled on that couple and the United States Government just smacked them right back down. Sure showed them who's boss. I'm not ok with that.

 

You're serious right now?

I am not required to open my mouth about anything I don't want to. Fifth amendment?

 

Hmm, I thought politics was not allowed on this forum. Enough already about taxes and let's get back to coins.

 

if it is taxable income does that mean during taxtime they can claim this on there taxes and get a tone back

 

I have yet to see an accounting of the coins stolen from the mint and how those dates and quantities match up with the hoard found by this couple. All I've seen are $$ approximations and based on that stupid number alone, some people are already tying the two together.

Does anyone have any FACTS supporting the link? I don't want to hear what other collectors are saying on other chat boards either. Those aren't facts, that's heresay.

As for the tax situation, no way to avoid it. Shame about us being taxed to death and then even after death (inheritance tax) and local, state and federal governments still can't get enough.

 

47% tax

 

So more adept folks would have gone through the motions of getting a TPG membership and buying a couple decoy double eagles (as bullion) before sending in a couple at a time for conservation and grading. Then repeating that cycle.

of course this presupposes a more than rudimentary knowledge of numismatics but if done right.......

 

then they wouldnt have gotten the saddle ridge hoard name and did so hopeing for a premium

 

This couple is lucky they found these coins at a time in history when the wealthy are taxed at one of the lowest rates ever - so low we have to borrow money to make the budget work. They're also lucky they will be left with less than $5 million, which means they'll pay no inheritance tax, just as 99% of us will never have to pay. Don't be a fool for the wealthy by supporting even lower income taxes for them and no inhertance taxes on their estates over $5 million.

 

As of yet I have not seen an inventory of the coins, I don't know why Kagin's hasn't put one out. Also why the $10 million figure? There is one coin that could easily sell for a cool million, maybe more, many others that could sell high.

There is a good reason for the laws on declaring finds and hoards, you want to test the law and see how easy they are on you? It makes me wonder how many people there are out there who have literally walked away with unreported hoards and finds, maybe the Feds. should be a lot more active in their investigations. You can be sure that the FBI and Treasury officials are looking into this now seriously.

As for the local law it says:

"‘If the reported value of the property is ($250) or more and no owner appears and proves his or her ownership of the property within 90 days, the police department or sheriff's department shall cause notice of the property to be published at least once in a newspaper of general circulation.’

"The code goes onto say that if no one comes forward within seven days, then the property will be retained by the person who found it.

"Usually, breaking the Civil Code isn’t an arrestable offense but punished with a fine.

"But, according to one Gold Country Sheriff’s Department, the matter is taken so seriously that the couple could be called in for questioning and ‘could face arrest’.

"The law is open to interpretation however. It only applies to 'lost' not 'abandoned' property."

There can't be that many couples named John and Mary in Auburn, CA in their 40's.

 

Back to the coins as we all know taxes suck I wish someone would post a listing if all the dates and grades found and more pics of all that pretty gold I just wanna see the coins