mr300s 1,272 Posted February 26, 2014 Not me but I sure wish it was ... Share this post Link to post Share on other sites
FrznFire07 217 Posted February 26, 2014 I saw this too, so jealous Share this post Link to post Share on other sites
MadHatterGraphix 1,258 Posted February 26, 2014 The things I would could do with $10M I could pay of medical bills for my family, pay of other bills and get the business a store front and help some of my friends. Share this post Link to post Share on other sites
xpaperman 719 Posted February 26, 2014 Let's watch how this unfolds and see how the government gets their hands on it. They will try and find a way to take this from them.... outside of the "income tax" of course as that is a given. There has to be some law about finding money on your property. Maybe they will look up the land owners at approximate date on the money and claim it belongs to them and or their estate and they will take the money and make sure they get it. Share this post Link to post Share on other sites
Dakotagrafx 7,297 Posted February 26, 2014 very cool find - really want to get back into detecting some daylast several years was just looking for shanks in the garden and yard at the prison :/ Share this post Link to post Share on other sites
MadHatterGraphix 1,258 Posted February 26, 2014 very cool find - really want to get back into detecting some daylast several years was just looking for shanks in the garden and yard at the prison :/ No gold teeth in the yard? 1 Share this post Link to post Share on other sites
darcshadow 1,626 Posted February 26, 2014 I dated a girl once whose grandfather had lost quite a bit of money like that. Buried it around the property then things shifted after some major flooding. Not sure he ever did find it all. As for taxes, until they sell them there wouldn't be any income from them. And the face value wouldn't be considered income becasue they bought it with the land. If they don't own the mineral rights to the land though, who ever does might be able to make an arguement that the gold belongs to them since it was found under ground. Share this post Link to post Share on other sites
jaybyrd 3,770 Posted February 26, 2014 I dated a girl once whose grandfather had lost quite a bit of money like that. Buried it around the property then things shifted after some major flooding. Not sure he ever did find it all. As for taxes, until they sell them there wouldn't be any income from them. And the face value wouldn't be considered income becasue they bought it with the land. If they don't own the mineral rights to the land though, who ever does might be able to make an arguement that the gold belongs to them since it was found under ground. If you win a car in a prize they tax you. Doesn't matter if you sell it or not but not sure if this applies here. I can say for certain I wouldn't have been bragging on the news about it and before it's over they'll probably regret that decision as well. Should of kept it on the down low... 1 Share this post Link to post Share on other sites
OWJones 1,981 Posted February 26, 2014 I saw another article that said the coins were in pristine, near mint condition, and that because of the way in which they were discovered, their collectible value could far exceed the gold value of the coin themselves - by a large margin! Share this post Link to post Share on other sites
darcshadow 1,626 Posted February 26, 2014 If you win a car in a prize they tax you. Doesn't matter if you sell it or not but not sure if this applies here. I can say for certain I wouldn't have been bragging on the news about it and before it's over they'll probably regret that decision as well. Should of kept it on the down low... But winning a car as a prize is an income, you are being given something. If you just find something in your atic you forgot about and is highly valuable you're not taxed for it. I'm sure though lawyers could make good arguements either way. Not saying anything would of been the better way to go though in any case though. Although the buzz this news will create in the coin collection world may drive up the value of the coins when they go to auction. Share this post Link to post Share on other sites
FrznFire07 217 Posted February 26, 2014 I dated a girl once whose grandfather had lost quite a bit of money like that. Buried it around the property then things shifted after some major flooding. Not sure he ever did find it all. As for taxes, until they sell them there wouldn't be any income from them. And the face value wouldn't be considered income becasue they bought it with the land. If they don't own the mineral rights to the land though, who ever does might be able to make an arguement that the gold belongs to them since it was found under ground. So where exactly is his property? (where was the metal detector) Share this post Link to post Share on other sites
mr300s 1,272 Posted February 26, 2014 So where exactly is his property?(where was the metal detector) Last paragraph says and the help with a metal detector I am sure there is already a ton of people trying to find the location in case there is more Share this post Link to post Share on other sites
Dakotagrafx 7,297 Posted February 27, 2014 very cool find - really want to get back into detecting some daylast several years was just looking for shanks in the garden and yard at the prison :/ nope - they would have been knocked out long before they made it to our prison. Share this post Link to post Share on other sites
xpaperman 719 Posted February 27, 2014 But winning a car as a prize is an income, you are being given something. If you just find something in your atic you forgot about and is highly valuable you're not taxed for it. I'm sure though lawyers could make good arguements either way. Not saying anything would of been the better way to go though in any case though. Although the buzz this news will create in the coin collection world may drive up the value of the coins when they go to auction. I would also like to think that finding 10 million dollars is also considered "income". The government will find a way to tax it....trust me. I mean, they consider anything income.... check this out (I know from past experience) did you know if you default on a loan, say a credit card. Lets say you had a balance of 5grand and just never paid it. It went to collections and you just continued to blow it off. No big deal right. The credit company rights it off as bad debt, sells the dept to a scum of the earth collection agency for pennies on the dollar. Any way, lets say you decide you want to "clean that up" and get it off your credit record. You call the collector guy and say hey lets make a deal. (and he will) Lets say he will take 2 grand and just ignore the other 3 and call it even. Everyone is happy right? NOPE, not the IRS. that 3 grand that they blew off..... now becomes INCOME as far as the IRS is concerned and now you have to pay income taxes on that 3 grand!!! Share this post Link to post Share on other sites
OWJones 1,981 Posted March 4, 2014 Latest news is the gold came from a robbery of the US Mint around 1900 and the family may only get a small finders fee... Share this post Link to post Share on other sites
Go-C Graphics 856 Posted March 4, 2014 Wow!!! Their luck ran out. Share this post Link to post Share on other sites
jaybyrd 3,770 Posted March 5, 2014 And that is why I would of kept my mouth shut. The only robbing now is the gov't 110 years after the fact stealing it from the people who found it. 2 Share this post Link to post Share on other sites
mr300s 1,272 Posted March 5, 2014 LOL Right on Loose lips sink ships 3 Share this post Link to post Share on other sites
jaybyrd 3,770 Posted March 5, 2014 So much for that island in the Bahamas... Share this post Link to post Share on other sites
Dakotagrafx 7,297 Posted March 5, 2014 I still want to get into detecting some day and want to pick Bills brain more (I kinda zoned out momentarily on the last chance - info overload I think) maybe next trip down Share this post Link to post Share on other sites
jfought 120 Posted March 5, 2014 me and my daughter will be hitting the fields this summer. we got her a garret ace 350 1 Share this post Link to post Share on other sites
Dakotagrafx 7,297 Posted March 5, 2014 we had some garret units at the prison I used a few times - nice units - but someday I want the waterproof ones like Bill has - just wish I had more time with him on that . . . and time to stop and shoot with vette . . . I have so many people and places I want to see.so far camping this summer is pokagon, potato creek - maybe brown county again . . . all indiana as we are saving staceys leave for another cruise or something similar. the forums are great place for great people - when we went to hawaii - hanauma was a great help with local fare even though i had been there 4 other times the locals have so much better intel. Camaro Joe helped with puerto rico info, heck about anywhere we go we have vinyl friends! Share this post Link to post Share on other sites
xpaperman 719 Posted March 5, 2014 Let's watch how this unfolds and see how the government gets their hands on it. They will try and find a way to take this from them.... outside of the "income tax" of course as that is a given. There has to be some law about finding money on your property. Maybe they will look up the land owners at approximate date on the money and claim it belongs to them and or their estate and they will take the money and make sure they get it. .....and, today, I hear rumors of how the government can possibly take this money away..... I said it first 1 Share this post Link to post Share on other sites
jaybyrd 3,770 Posted March 5, 2014 .....and, today, I hear rumors of how the government can possibly take this money away..... I said it first I didn't want to jinx them but I think most knew it was coming just a matter of how and when. Share this post Link to post Share on other sites
edge 67 Posted March 5, 2014 Latest news is the gold came from a robbery of the US Mint around 1900 and the family may only get a small finders fee... I'm inclined to believe that version was designed to sell newspapers. CNN's update on this story has spokesperson for the Mint refuting rumor these coins came from the Walter Dimmik theft in the early 1900s. As the Mint theft coins are believed to carry 1901 date and these coins by and large are 1860s thru 1890s. In all probability these coins were stashed by one of the many miners to strike wealth during that era. 1 Share this post Link to post Share on other sites
