Man discovers 700 Civil War coins worth millions buried at Kentucky farm

[Richard Cranium]

KA-CHING!!!!

Man discovers 700 Civil War coins worth millions buried at Kentucky farm

The findings have been nicknamed the “Great Kentucky Hoard” and include a group of 1863 Double Eagles and hundreds of U.S. gold dollars dated from 1850 to 1862.

nypost.com

 

[kiwigtx]

I wonder how much of the booty the finder is allowed to keep for himself?

 

[Budnicks]

 

[Geetex]

I wonder how much of the booty the finder is allowed to keep for himself?

In this country?

He'll probably be arrested for being in possession of stolen goods, and any other charges that they can dream up. They'll confiscate his house, properties, cars, bank accounts, and any other assets that he has, plus a fine and prison time. He'll end up owing them for the rest of his life.

 

[kiwigtx]

In this country?

He'll probably be arrested for being in possession of stolen goods, and any other charges that they can dream up. They'll confiscate his house, properties, cars, bank accounts, and any other assets that he has, plus a fine and prison time. He'll end up owing them for the rest of his life.

That good huh?
More donations to the reparations fund for the plastic slaves.

 

[Detective D]

I hope he got a lawyer.

 

[eldubb440]

should have kept his mouth shut while figuring out how to handle it

 

[33 IMP]

should have kept his mouth shut while figuring out how to handle it

Some people just cant help bragging about what they have.... even if it makes much more sense to just shut up!

 

[Scott Engelhardt]

Im not a greedy person, but would love to find something cool. I don't even care about the value. We bought an old building to remodel for my wifes store. As I was doing demo I found a really cool news paper advertisement for a 30 something Cadillac, Thinking I finally found something cool, it was so dry that as soon as I touched it, it crumbled.
Yeah he should have kept his mouth shut.

 

[XS22J8R]

The hoard is available online from a coin brokerage called "GovMint" to buy coins from if anyone is interested.
I suspect the story dropping now is to draw attention to that sale.
I would hope the finder worked with lawyers and financial advisors on how to handle it. I highly doubt anyone else can make a claim on it as buried there on the sellers property for over 170 years.
And the profit will likely be taxed as capital gains.
Even after paying the taxes, the financial advisors and the commissions to the place selling the coins for them, it is still going to make for a nice chunk of change for the property owner!
How would one dispose of something like that "under the table"? How do you as a presumably non expert on rare coins get each coin graded, determine market values of each and every coin after grading, find the deep pocket collectors who will pay you fair market value for each and every coin, presumably in cash so it doesn't get reported to the IRS, and then how do you launder the millions of dollars in cash some way so that you can actually spend it or invest it without showing up on IRS radar screens?
I doubt its possible, you can't even sell more than $599 on ebay without it getting reported to the IRS now, so the way this is being handled is probably the most prudent way.

 

[WileE]

Now I know why I've seen people all over the place lately with shovels digging in their back yards !!! ( no, not really, so put your shovel down, FBBO member !! )

 

[Richard Cranium]

Now I know why I've seen people all over the place lately with shovels digging in their back yards !!!