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10 Million Dollars in Gold Coins Found in Primitive Storage Container

Offline MovieMan

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More than a hundred years ago storage units were tin cans buried in the ground. That was the case for this storage unit recently found in Tiburon, CA.

The cache of 1,400 gold coins has a projected value of  10 million dollars based on the uncirculated condition of many of the gold coins which were placed in the ground in the mid 1800s.

http://sanfrancisco.cbslocal.com/2014/02/25/couple-finds-10m-in-gold-coins-buried-on-norcal-property/


Re: 10 Million Dollars in Gold Coins Found in Primitive Storage Container
« Reply #1 on: February 26, 2014, 09:13:22 AM »
Ahhhh yes, that is going to bring an entire new meaning to enjoying the "golden years".......

Re: 10 Million Dollars in Gold Coins Found in Primitive Storage Container
« Reply #2 on: February 27, 2014, 09:46:05 AM »
Not so fast... http://www.sfgate.com/business/networth/article/Couple-s-gold-discovery-will-be-taxed-at-top-5271261.php
Of course the government has to get their part!

Does this mean that half of what I make off of a unit should go to the government? I paid for it but it is found treasures. Blurry lines anyone?

Offline alloro

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Re: 10 Million Dollars in Gold Coins Found in Primitive Storage Container
« Reply #3 on: February 27, 2014, 01:08:18 PM »
First off, I think they are a couple of idiots for telling anyone about the coins. They should've quietly sold them off and if ever questioned about them, just say my dear old granddaddy gave them to me as gift before he died. That aside, they are not taxable as income, they are taxable as a windfall.

Offline MovieMan

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A TWIST on the coin cache; see link below on the possible identity of the found coins:

http://gma.yahoo.com/10m-gold-coin-hoard-found-yard-may-stolen-141317823--abc-news-personal-finance.html?vp=1


Right back to keep your mouth shut. Leave it to the government to figure out how to take it all.

Offline EdwardThirlwall

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Honestly, if I were to find a bunch of really old VALUABLE coins in my backyard, I'd probably take some advice from you guys and maybe just one step further - what about putting the whole pot into a self storage unit or vault? That way they can pass off as not too far away from their current standard of living, but create some really good legacy money for t heir kids and grandkids.


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