How would you sell a cache?

[acedigger]

I was just curious if you found a cache that was all gold/silver bars how would you go about selling them. You could'nt just walk into a bank and demand gold standard for it. If you took them anywhere you would raise so much interest that the gov't would be knocking on your door in no time.
Now not that I am a critic of buried treasure, I have always dreamed of finding a huge cache, but what would actually happen if I did find one. It is basically worthless until you sell it.

Just Curious.

[tonytygr]

the same way you would eat an elephant, a little at a time. I have sold a silver bar to a coin dealer and there was no problem.

[acedigger]

the same way you would eat an elephant, a little at a time. I have sold a silver bar to a coin dealer and there was no problem.

I guess thats true. I was just thinking, if you found a 20 lb bar of gold it would be real hard to get rid of. A cache of coins could be sold pretty undectable.

[SONICMASD]

this is actually a very common question and a very big concern for treasure/cache hunters. there are several cases where a cache has been found and as soon as it leaks to the media or a person reports their finds to the FEDS, BAMN they come in and confiscate it all and thats that. SO not only is it hard to get rid of the items you find but most of the time it will be illegal since anything over 100years old is an artifact and belongs to the government.

i have heard things of people melting the ore down and then molding it into rings or small peices to sell in jewelery and pawn shops- that would take ages though if you found a cache with a few hundred or thousand bars though.

i have also found some sites online that buy gold and silver bullion directly but have no actual experience in ever dealing with one of them. www.onlygold.com

[Zephyr]

I don't know if it would work, but you always could try to melt the metal off with a blowtorch and make your own "nuggets" to sell off in small amounts.
I'll try that if I ever find a cache of gold bars....

[ivan salis]

smurf it -- small chunks sold over time scattered around -- nothing too big and not all at once. *** rehide the stash very, very well because lots of folks will be trying to figger out how to "rip you off" if they catch on --first of all the GRUBBERMINT both fed and local will be screaming ---mine,mine,mine like a spoiled brat two year old -- then theres the thieves looking to rip you off -- treasure's "best friends" are named are trouble and greed -- when treasure is found their sure to be hanging around. Ivan

[SONICMASD]

thats a good tip! thanks

[Zephyr]

(...) -- then theres the thieves looking to rip you off -- treasure's "best friends" are named are trouble and greed -- when treasure is found their sure to be hanging around. Ivan

And chances are they'll be relatives too LOL

[MD Dog]

our grubbermint is much better at watchin what's cummin into this country than what's goin out. Tax free is the way to b.

[Real de Tayopa Tropical Tramp]

HIO ole dog: You posted this suggestion ----->


"Grind the gold bars up and actually mix in some black sand from your claim (just a little)"
~~~~~~~~~~~~~~~~~
Grinding gold is a losing propositon, try using an acetlyene torch and let the melted gold drops run off of an inclined plate into a tank of water .

Don Jose de La Mancha

[Siegfried Schlagrule]

HIO ole dog: You posted this suggestion ----->


"Grind the gold bars up and actually mix in some black sand from your claim (just a little)"
~~~~~~~~~~~~~~~~~
Grinding gold is a losing propositon, try using an acetlyene torch and let the melted gold drops run off of an inclined plate into a tank of water .

Don Jose de La Mancha

Run the slag through a wire screen to make small nuggets in the water.
siegfried schlagrule

[MD Dog]

cheese grater

[coda]

A byproduct of inheritance that came upon you, after a family death, in which the original source of discovery, transference, claim, recovery, or actual theft cannot be determined if said gold bar cannot be traced to it's true origin. ie. "It was in all my Grandpa's stuff from the will !!" But only after investigation, and a credible document does exist to support this statement; which happens all the time when one receives a "chest" from Grandad which the true contents of, were never common knowledge, nor mentioned by type item in the will.

Coda

[boogeyman]

Don Jose had the best answer in my opinion!

If you use your new found wealth to pay some bills, buy the kids some tennie boppers, and buy in small amounts you should be able to be set for a good long while. Look at most of the News headlines. Seems the guys that are busted or have their new found wealth confiscated are the guys that go out of bounds, like buying a Lincoln Contental & a new 45' cabin cruiser with all the bells and whistles and yet works as a manager at Burger King. People start wondering What's wrong with this picture?

!. Keep your mouth shut!
2. stay within the boundaries
3. Use your head
4. Refer to #1 -3

[coda]

Whoever PMd me on this topic; the text did not come through and I do not have your response. Again, refer to my first post on this topic and it should provide a "frame" for liquidating certain items.

Coda

[acedigger]

I was just curious if you found a cache that was all gold/silver bars how would you go about selling them. You could'nt just walk into a bank and demand gold standard for it. If you took them anywhere you would raise so much interest that the gov't would be knocking on your door in no time.
Now not that I am a critic of buried treasure, I have always dreamed of finding a huge cache, but what would actually happen if I did find one. It is basically worthless until you sell it.

Just Curious.

You failed to make mention if the cache was acquired by legitimate legal methods, or by fraud and deceit.

If by legal methods, you can write your own ticket.
If by fraud and deceit, you might not like the ticket written.

The cache would be found legally say on your own property. I hear stories on here that the Gov't would come in and take it all so I am curious how you would get rid of it and keep the money for your self. Because in the end the gold bars are not worth anything if you can't sell them.

[MD Dog]

You cannot (legally) enjoy the fruits of such a find within the boundaries of this country. That said, finding the where, how etc.... must be done very discretely and not on a public forum. Your only truly legal option would be to claim such a find on income taxes and stand back to watch the feeding frenzy begin. There are those who advocate always doing the right thing, the real question lies with "what is really the right thing to do." Thus very few people could honestly legitimately claim the experience to answer your question. Is it fair and just that every singal person who feels they have some sort of legitimate claim to this money be heard in a court of law ? In my opinion, NO, but again that would be just my opinion. So at great risk to my own personal safety I shall try to give you a true account of what might be in store for any such (lucky) person.

First off questions of ones own personal morals must be addressed and answered before any actions take place. You must decide ahead of time for yourself without any consultations, even with your pastor or priest what is the right thing for you to do here. Even if you decide to declare it and then donate it all to charity, the emotional fallout afterwards can be quite devastating. I.E. did I do the "right thing" Which, again, is quite subjective.

Next is the amount of value found in it's historical context worth it to keep it whole or is the main value found in another way. For instance Does your treasure reveal anything about history and can it be traced to that or any historical occurrence, Like say a treasure map penned by Thomas Jefferson and signed with his particular flair would most definitely be worth more as a historical Item than the paper or I dare say even the treasure to which it leads. Gold in ingots as previously mentioned usually comes with several marks which could make it traceable. Even straight forward cash can be traceable due to the serial numbers.
So in some cases destruction of the treasure like melting gold into small nuggets could be done but might not always be your best answer.

The way I would do this (IF I HAD A TREASURE TO DISPOSE OF). Would be to address the first two issues and then find a way to smuggle the treasure out of the country. As you may or may not know our borders are even more secure now than ever before and yet they are very porous going out rather than coming in.
Secondly I would head straight for Switzerland or the Cayman Islands. Obviously to bank my treasure.
Thirdly I would look to make a deal privately through said banks to sell my treasure.
Lastly I would set up a import export business to launder the money coming in. Although I would still face tariffs and taxes they are minuscule in comparison to the declare it and watch the feeding frenzy method.
One other option would be to enjoy the proceeds only while away over seas. 8)

[acedigger]

I guess your right, you would need a plan on how to proceed with cashing in your gold or silver. I would think that if you did find such a cache it would be best to:

1:Change your pants
2:Not mention it to anyone
3:Possibly rebury it until a decision can be made on what to do with it
4:If its a big enough cache, hire an attorney
5:Research avenues of selling the cache legally
6:Get ready for lots of attention and taxes

Now I just have to get out there and find a cache of bullion.

[treasure-prospector]

1. NEVER find a cache or hoard
2. ALWAYS Keep your mouth shut
3. In the case you violate #1 obey #2.

[treasure-prospector]

We would have all lost-out if Mel Fisher did not record his historic recoveries, and if he would have sold his finds on the blackmarket.

How much did he lost to the govt? 30%