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Calif. couple strike $10 million gold-coin bonanza



 
 
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  #11  
Old March 2nd 14, 07:48 PM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

1,350 twenty dollar gold pieces, 50 ten dollar gold pieces and 5 five dollar gold pieces. Original face value of $27,525 in the American money of 1895. About 1,321 ounces of pure gold.

I keep wavering back and forth between 1,350 twenties and 1,400 twenties because I've hear and read both numbers. But you're still talking $1.8 million dollars MOL at present melt value.

Oly
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  #12  
Old March 5th 14, 04:08 AM posted to rec.collecting.coins
ruben safir
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Default Calif. couple strike $10 million gold-coin bonanza

On Sun, 02 Mar 2014 10:24:39 -0800, oly2059 wrote:


The late great treasure hunting writer H. Glenn Carson always said that if
you find more than a modern clad quarter, you need to STFU!!!


good thing your an expert in this to advise them




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The Coin Hangout: http://www.coinhangout.com/home
  #13  
Old March 5th 14, 04:48 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

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.

Of course, maybe I have found some nice coins. Not like I'm going to tell you about it, Rubie!

Oly
  #14  
Old March 5th 14, 04:49 AM posted to rec.collecting.coins
Michael Benveniste[_2_]
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Default Calif. couple strike $10 million gold-coin bonanza

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.

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You don't have to sort of enhance reality. There is nothing
stranger than truth. -- Annie Leibovitz
  #15  
Old March 5th 14, 04:54 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

Pcgs forum is coming up with much additional detail and many photos on the hoard. The latest number is 1,373 twenty Libs and maybe one counterfeit twenty! There are many common date VF, XF and AU pieces in addition to the knock-your-socks-off high condition rarities.

Oly
  #16  
Old March 8th 14, 04:31 AM posted to rec.collecting.coins
Bremick
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Default Calif. couple strike $10 million gold-coin bonanza


wrote in message
...
And it should be said that the hoard must be from the 1895 era based upon
the latest dates that were found. The U.S.A. went through it's worst
economic crisis 1894 - 1898, prior to the 1929 - 1939 debacle. Oly


I found it a little doubtful that those tin cans could have remained buried
that close to the surface for over 100 years and still been largely intact.
Makes me wonder if they were buried much more recently.


  #17  
Old March 8th 14, 04:57 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

Well, nobody has exactly stated how close to the surface the cans were (to my knowledge).

But most of the coins did have some dirt on them, and this Lange fellow with Kagin's did have to "work" on the coins, from August 2013 until last Christmas Eve. The cans did not perfectly withstand the test of time. Of course, 90% Gold coins are rather impervious to environmental damage. But the Saddle Ridge coins have mostly been worked on (euphemistically, "conserved"). There are many photos on the internet showing how much dirt had filtered into the steel cans.

There is an ANA video on You Tube where Mr. Kagin and Mr. Lange talk about the hoard for about five minutes. It is enjoyable although part of the audio is poor. I recommend the video to you, Mr. Dennis, but this table computer device does not allow to post the link (or maybe it does, but I don't understand how it works). For that matter, many sources in addition to the ANA have posted Saddle. ridge hoard vides on You Tube.

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.

Oly
  #18  
Old March 8th 14, 05:01 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

Pardon, I should have said Mr. Remick! Pardon and best regards! Oly
  #19  
Old March 8th 14, 11:18 PM posted to rec.collecting.coins
Bremick
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Default Calif. couple strike $10 million gold-coin bonanza


wrote in message
...
Pardon, I should have said Mr. Remick! Pardon and best regards! Oly


No need to be so formal.

When I first read about the find, a spokesman for the couple claimed that
the man saw a portion of a can sticking above the ground and stopped to
inspect it. if that were accurate, the can(s) weren't buried very deep and
were unlikely to last 100 seasons without disintegrating.

In my earlier years several of us beer can collectors used to go "dumping"
in the spring before the poison ivy and snakes came out. We looked for old
pre-war farm dumps on wooded hillsides and raked into them looking for
discarded cans. Any cans within a couple feet of the surface were totally
or partially rotted out. Surprisingly though, the deeper into the rubble we
looked, many of the beer cans we found were remarkably intact, paint and
all.

Anyway, I agree that this was likely somebody's stash of gold coins, and
that beyond just money, the coins' condition and maybe even date was
important. It's anyone's guess as to why they were buried, but yours is as
good as any.

I wouldn't be surprised if the coins were slabbed gratis just for the
publicity, with a special label added. I guess the announcement of the find
a year or so after the fact came as the coins were being readied for
auction. Smart move, profit-wise.


  #20  
Old March 9th 14, 03:43 AM posted to rec.collecting.coins
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Default Calif. couple strike $10 million gold-coin bonanza

Yes, it has been stated that one of the cans was partially exposed on the surface. This prompted the discover. There were eight or nine cans, it seems. Apparently there were "marks" in an old tree and then a stone or concrete marker at a distance from the tree, and the cans were an equal distance beyond the stone marker. It is reportedly said that the coins were removed from the cans several months before Kagin and Co. first saw them.

Photos show that the coins had dirt and rust on them. It now seems that the news releases from the firm leading this sale are stressing "minimal" conservation.

The posters on PCGS forum are suggesting that PCGS probably received $80,000 or $100,000 for their stabbing with a special gold foil label, their authentication and their guarantee. The posters speculate that the authentication and guarantee services entail some risk and PCGS can't do it for free. PCGS has said nothing about this angle, to the best of my knowledge.

Again the PCGS Forum/ U.S. Coins has several very informative posts, especially in the thread started by "ricko".

Oly

 




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