What would you do if you saw this on a hike?

What would I do?

 

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Was this actually found?I would get em and keep my mouth shut.

 

They are gold

 

Yup. Except it was 6 full cans not just this one.

 

really depends on if it is on their own private property, or if it's on public property, or if it's on federal property like a national park.

I think in the case of this, it was found on their own property, so it's theirs the moment they bought the land.

 

I loved that Show. He was great.

 

Nice! What’s crazy is no one knows where the gold originally came from.

 

I don't know about that....Title and Mortgagor and all that stuff, not to mention reporting a U.S. Treasury minted Gold find to the U.S. Govt., and the friendly tax guy. Somebody is going to have to pay somebody something sometime.

 

The only coin that can be identified from that image is the top one, a Type II Liberty Double Eagle. The Type II's were struck 1866 to 1876, which means the hoard couldn't have been buried earlier than 1866. There are a few key dates and varieties, and I suppose if the grades were high enough they could sell for big money, especially with a hoard provenance. It's really impossible to say anything else without seeing the coins.

 

Everything Frank said except I wouldn't report it.

 

Saddle Ridge is rather old news, the hoard was found in 2013. Over $27,000 face value, an 1866-S double eagle w/no motto, and a dozen or so graded PCGS finest known.

https://en.wikipedia.org/wiki/Saddle_Ridge_Hoard

 

Put them in the freezer before the chocolate starts to melt.
Look like good trading material.

 

China ?

 

Thanks for finding my coins. I lost them years ago after a long night drinking.

 

If you do find gold coins and don't sell them, do you have to pay income tax on the coins? I would think that you would when you sell them. With the new IRS laws about paying taxes on coins when they are sold, they would be taxed. I think the new law starts when you sell more than $600. I'm a retired accountant, but I work with government accounting, so I didn't have to work with taxes, except for the meager amount the state pays their accountant.
Anyway, If the find was significant, I probably would definitely keep my mouth shut, not even to my accountant or lawyer because they are required by law to report an violation.
I found 2 $20 bills on the ground when I left a friend's wedding. My dilemma is, my wife saw me pick them up and I want to look good in her eyes. So, I went back to the reception and asked the father of the bride to let me know if anyone reports loosing 2 $20 bills. My wife was still watch me, so I put the 2 $20's in with the rest of the gifts.
So.. Do you tell your wife if you found a hoard? How many of you with wifes that have a best friend? Does the best friend have another best friend? And on and on it goes.

 

You are perfectly correct in what you say.
Some people get to keep the treasure and others get the market value, tax free I might add.

 

In the US, I presume if you find coins on your own property that unless someone else has a substantiated prior claim, they're yours. Interesting question is your tax situation. Do you owe income tax on the coins? If so, do you owe it in the year the coins are found or the year in which they are sold? And if you owe tax, are the coins considered ordinary income or a capital gain?

Could the coins be considered a mineral like native gold nuggets are? If so and someone else owns the mineral rights to the property, do the coins belong to them? BTW many home and farm owners would be surprised to learn they don't
own the mineral rights to their property. We own 1/2 the mineral rights to our ranch, which is unusual, and have no idea who owns the other half. The mineral rights are an entirely separate deed.

Cal

 

If there is a high value on the coins, yes, there are laws that are in place for found valuables. They appear to be silver dollars, if so, they would have to be of high quality, certain mint marks and dates to determine actual value. Seek advice from a respected dealer and or numismatist in your area. Be smart not sorry!

 

Those are gold double eagles in the original picture

 

I am an honest fellow. Far too honest in the eyes of many. Every quarter I feel like I am personally financing the Fed with the quarterly tax checks I write so frankly, if I happened upon that I would put it in a bank bag and carry it to my safe deposit box to be forgotten about……. Was that a photo of the Saddle Ridge find?