Saddle Ridge Gold Coin Hoard

So, my wife just told me she heard on the radio that the government will not pursue the coins, so they belong to the couple. Just Googled it but found nothing. Anyone hear anything?

 

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MSNBC reported that initially the hoard was going to be confiscated because it appeared as if distant relatives of George Bush had hidden them there. When this was later debunked they dropped their interest in the coins.

 

Yep, mint says coins found were not stolen from the mint! Here's a link.

http://www.upi.com/Top_News/US/2014...-Calif-not-stolen-from-it/UPI-18391394055227/

 

We are one week into the media circus, and yes mint spokesperson said they have no connections between the hoard and the 1901 mint theft. This whole story will take a while to get unraveled.

 

PCGS has the images up, here is one of the dates: http://www.pcgscoinfacts.com/CoinImages.aspx?s=109021

There are other images and links on this thread: http://forums.collectors.com/messageview.cfm?catid=26&threadid=911538&STARTPAGE=24

 

WOW! Not done looking yet, but a whole lot of 1892-s! Wonder what that means.

 

This update has input from an expert (Jack Trout) on the matter: http://news.yahoo.com/no-legitimate-claim-10-million-california-gold-firm-211951171.html

 

David McCarthy shared some of his methods at the PCGS forum:

"I won't reveal specifics about the full conservation process, but will say that the vast majority of the work was done with scalding hot water (which irritated my psoriasis and led to the infamous bleeding fingers) and that every coin was bathed for a substantial period of time in distilled water before being dried off. The conservation was more about procedure than chemicals. I did everything that I could to maintain the color of the coins as they were."

-------------------------David J. McCarthyhttp://forums.collectors.com/messageview.cfm?catid=26&threadid=912357&STARTPAGE=2

 

<<note sarcastic response>>

It means that whoever buried those coins had a very good year in 1892!

Sorry, couldn't resist.

 

But would you be able to get coins like this from the banks of the day?

One comment from a sharp collector:

"...however I agree it could very well have come from a robbery. The coins were predominantly in mint state condition and then quickly buried. Why do I say this, well you saw how they were packed in the cans, basically just dumped in and then sealed and buried, a collector wouldn't have done that under any circumstances. These coins were treated as common bullion and were put underground quickly, since they were buried shallow and unprotected while inside the cans. If they were hoarded and then buried or safe keeping they would most likely hid inside a home this looks like a robbery and quick burial to my eyes. "http://forums.collectors.com/messageview.cfm?catid=26&threadid=912283&STARTPAGE=2

 

I'm thinking it was a prospector's stash. He must have found a good vein and brought the dust in every time he left the claim for supplies. Primarily paid out in double eagles, with the remainder in smaller coin, and some of the smaller coin is change from buying the supplies. He buried the rest in the same place every time before heading back out to the claim. One day he's attacked by claim jumpers/bandits/natives, and dies leaving the mint state stash until now.

this accounts for the different date/mm combos (different trips to/from the claim), as well as the high concentration of high mint state coins with the same date /mm combo (found a good vein on that trip to the claim).

 

All the theories are being examined at this stage with both Kagin's and the mint seeing it as a lucky find.

 

Taxation ?
I know I am late to sayings whatever I think .
I know this after 50+years of reading and collecting US coins . Thing do change population grades and ownership .
But one thing has Powerful collectors can get whatever they want. I am sure that a few Key dates Will get cracked out of damage or genuine holder once the buzzing stops. It my take 5-10 years on such a large find. A MS-6? will pop up it's just a matter of timing .
But only one thing will not taxes will be gladly paid.
What I don't understand is why 1933 known and Secret Service checked 2 times got thrown out as the same taxation would have applied and made a hex of a lot more money tax wise.
1 Owner must have a ton of friends in the justice department to steal gold a Jewel Business buys yearly .
Throw out federal witness statement kinda sounds Rigged in some way.
Taxes will be paid on this hoard for a while you count on that for sure.
http://www.coinworld.com/news/california-couple-finds-large-gold-coin-hoard.1.html

 

Who knows at this point. Back then there were probably few coin collectors that would put those coins in the ground, so probably someone’s bullion/cash that was converted mined gold or stolen. Who knows if even the couple’s story is true as to exactly what and where they found them. I see a few things that have changed in their story – their change, the coin dealers or the media? One thing I would like to see is the history of the property ownership. Anyway, looks like the find is theirs now and I hope it’s all settled soon, so I can move on to looking for my quarters in change.

 

Gold found always brings greed and Taxes and more .
Quarter change ,hex down southeast banks are rarely getting up to date coins. Why that a good question .
But I still get my yearly mint and silver proof sets but most are not opened. May as well get the best price for the family when worm food or ashes .

 

Bright side: Assuming these are not from the mint heist leaves another $30,000 face gold out there that might be worth another $10 million. Have at em

 

I don't know, didn't Dimmick live another 30 years after being released. If he stole the coins from the mint, wouldn't he have returned to his stash? Even if they were initially watching him, over 30 years, he'd find a way. Question is how did Dimmick do after being released, did he worked and/or die in poverty or did he do very well with few sources of income?

 

I haven't seen anyone speculating that it was a collector that buried them. Remember, at the time they were bullion!

 

I thought I speculated it might have been someone unwilling to turn them in to the Federal Gov't in the '30's. Banks were failing and now the government wants my gold, hell no, I'll bury them...lol.

 

Make sure a trusted family member know about area .
Unless you want a New hoard found in 2113? or sooner.