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Calif. couple strike $10 million gold-coin bonanza



 
 
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  #21  
Old March 9th 14, 11:37 PM posted to rec.collecting.coins
Peter Irwin
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Default Calif. couple strike $10 million gold-coin bonanza

wrote:
I personally do not understand why so many people cannot wrap theirs minds around this hoard being a savings hoard of some successful farmer, rancher or miner who did not trusts banks in an era well before the advent of both the FRB and the FDIC.


In an era when a $500 a year job was enough to support a family,
$27,000 was a huge amount of money to just bury in the ground.
Investing the money in government bonds at say 3.5% would yield
around $945 a year. Reinvesting the money in whatever made him that
money in the first place would likely do much better. If he were
a rancher, why wouldn't he buy a bigger ranch and hire more people?

Peter.
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  #22  
Old March 10th 14, 01:57 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

You are thinking as if the conditions of today (2014) have always existed.

There were Treasury bonds back in 1895 (but hardly in the unlimited quantities of the present day), I suppose, but part of the economic panic(s) between 1893 and 1898 resulted from weakness and distrust of the finances of the rather small and limited Federal Government. I am thinking that the London bankers loved to hold Grover Cleveland's feet to the fire, and That J.P. Morgan had to do extraordinary things to maintain the credit of the Federal Government in the 1890s.

Additionally, there was a preference for hard money in the Western part of the U.S.A. until much much later, lingering even into say the 1950s. Old LaVerne Redfield would not have been considered an eccentric by many people in America during the time he was actively hoarding silver dollars.

As for why somebody would not use his money to make more money, that is a matter of personal preference, one's age, one's health and whether or not one had any children or grandchildren or close relatives that he gave a damn about.

I went to look at a coin collection recently, possibly to purchase it or to help sell it. It consisted of mostly 90% silver coins that had been withdrawn from circulation before 1970. I estimated the collection at $15,000. The gentleman representing the family said "Hell, if we keep these coins, Mom will never be destitute, will she?". I had to agree and I can readily concur with that way of thinking.

Not everybody is trying to make a killing. Ofttimes, people who keep trying for "more and more and more" suffer huge financial reverses.

This Apple tablet keeps correcting my grammar and spelling from right to wrong, sorry!

Oly

  #23  
Old March 10th 14, 02:05 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

Do you watch the show "Bering Sea Gold"? Do you know who Verne Adkinsson is??? For three television seasons now, hIs is a most cautionary tale about overextending one's self.

Oly
  #24  
Old March 18th 14, 03:48 PM posted to rec.collecting.coins
Paul Ciszek
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Default Calif. couple strike $10 million gold-coin bonanza


In article ,
Michael Benveniste wrote:
On 2/28/2014 8:55 AM, ruben safir wrote:

eh - something is wrong with this story. Another shoe is going to drop.
You don't find tin cans filled with gold coins in the 21 century under
the apple tree.


The current "hot" theory is that the coins were stolen from the
San Francisco Mint in (or around) 1901.


And, in the USA, stolen property remains stolen. Particularly when the
lawful owner--the US Mint--is still around.

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  #25  
Old March 18th 14, 03:54 PM posted to rec.collecting.coins
Paul Ciszek
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Default Calif. couple strike $10 million gold-coin bonanza


In article ,
wrote:
See the thread started by "Ricko" over at PCGS Forum/ U.S. coins. My
thoughts on the upcoming legal fight over this hoard are conservative
compared to what's now being posted there.

Again, these finders could have sold-off ten coins a year, every year,
forever and they would have been much better off.


Some articles have been saying that some of these coins could fetch a
million dollars apiece. Could you sell off even one a year without
people starting to notice?

Melting them down would create a great disturbance in the force, as
if millions of voices suddenly cried out in terror and were suddenly
silenced.

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  #26  
Old March 19th 14, 04:40 AM posted to rec.collecting.coins
Michael Benveniste[_2_]
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Default Calif. couple strike $10 million gold-coin bonanza

On 3/18/2014 10:48 AM, Paul Ciszek wrote:

And, in the USA, stolen property remains stolen. Particularly when the
lawful owner--the US Mint--is still around.


The good news is that the Mint issued a statement saying "We do not
have any information linking the Saddle Ridge Hoard coins to any thefts
at any United States Mint facility." and "We’ve done quite a bit of
research, and we’ve got a crack team of lawyers, and trust me, if this
was U.S. government property we’d be going after it."

https://www.coinworld.com/insights/m...dge-rumor.html

--
Mike Benveniste -- (Clarification Required)
You don't have to sort of enhance reality. There is nothing
stranger than truth. -- Annie Leibovitz
  #27  
Old April 4th 14, 06:54 PM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

I am surprised a bunch of folks claiming to be "heirs" to this fortune have
not appeared, with their lawyers of course, and began fighting over
ownership yet.
"Michael Benveniste" wrote in message
...
On 3/18/2014 10:48 AM, Paul Ciszek wrote:

And, in the USA, stolen property remains stolen. Particularly when the
lawful owner--the US Mint--is still around.


The good news is that the Mint issued a statement saying "We do not
have any information linking the Saddle Ridge Hoard coins to any thefts
at any United States Mint facility." and "We’ve done quite a bit of
research, and we’ve got a crack team of lawyers, and trust me, if this
was U.S. government property we’d be going after it."

https://www.coinworld.com/insights/m...dge-rumor.html

--
Mike Benveniste -- (Clarification Required)
You don't have to sort of enhance reality. There is nothing
stranger than truth. -- Annie Leibovitz




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  #28  
Old April 4th 14, 09:31 PM posted to rec.collecting.coins
Michael Benveniste[_2_]
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Default Calif. couple strike $10 million gold-coin bonanza

On 4/4/2014 1:54 PM, wrote:
I am surprised a bunch of folks claiming to be "heirs" to this fortune have
not appeared, with their lawyers of course, and began fighting over
ownership yet.


According to this article, "scores" of claimants have made contact:
http://www.sfgate.com/news/article/B...on-5279157.php

But remember, a lawyer will only take this sort of case on contingency
if they think they think the risk is worth the effort. So the "heirs"
would either need something tangible or be willing to pay their lawyer
by the hour. While I wouldn't be surprised by a nuisance lawsuit or
two, that's enough of a barrier to keep most dreamers at bay.

--
Mike Benveniste -- (Clarification Required)
You don't have to sort of enhance reality. There is nothing
stranger than truth. -- Annie Leibovitz
  #29  
Old April 4th 14, 11:28 PM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

People should be careful throwing that $10 million about - this hoard melts at $2 million MOL (some 1,400 Troy ounces of gold) and the rest is numismatic fairy dust - some of which will be achieved, possibly most of which will be achieved - but $10 million is a toppy number.

The serious potential hoard claimants won't really surface until the actual find location of the hoard is inevitably disclosed through legal discovery.. Then, Katy-bar-the-door!

If I had to guess, either the Federal or State Governments will force the finders to publicly disclose exactly where the hoard was found, to clear the possibility of the coins being found on publics lands today, or to clear the possibility that the hoard was buried on lands that were public lands in the mid-Eighteen Nineties. Then, whatever the finder's response, the persons who figured in the subsequent chain-of-title (and their heirs) will come out of the woodwork.

Oly
  #30  
Old April 9th 14, 05:04 AM posted to rec.collecting.coins
Ruben Safir
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Posts: 10
Default Calif. couple strike $10 million gold-coin bonanza


Prior to actually selling them, the value of gold is what they are
worth. If they were melted down (forbid the thought) the owner would
just have a gold ingot worth around $27,000 with no "collector" value.
The 10 million is only an educated guess by a group that has a vested
interest in promoting the game. Other hand, will the discovery of what
was thought a prior limited amount of specific slabbed coins decrease
the rarity and value of the existing coins?
Fully agree with "STFU", at least the finders/owners are still un-known
but for a few entities.
h



in retrospect, actually, maybe it is not that big of a cache

See this

http://www.coinhangout.com/cgi-bin/Y...1397012019/0#0

 




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