You Found the Gold! What next?

[KGC4Dixie]

You've been hunting treasure for decades almost every weekend but now follow the markings to an outcrop of rocks where below is a depression in the terrain. There's a signal telling of iron somewhere about three to six feet down. You're sure it's going to be another plow fragment or horseshoe, but wait, finally pay dirt! It looks like gold and silver coins under what use to be the top of a rusted out safe box .

You go back to the car to get one of the kid's plastic beach buckets and return for the haul. Hour after hour you make multiple trips to the car and again. By nightfall you've decided to cover it over and return later. With shock absorbers showing the heavy load you get onto the road with a scrape of pavement.

Once home there is a bigger decision to make--tell someone or keep it to yourself? Spend it piece by piece or cause a general alarm among family, friends and the IRS .

Haven't we all thought this? What would you do?

Gary

[SLO HUNTER]

Better off keeping this one a secret...................SSSSSSSHHHHHHHHH!

[stefen]

Get a car with good shocks and a decent shovel

[KGC4Dixie]

Gary, If you need some help getting rid of that loot....I would be happy to take some of it off your hands. Actually, I would keep the recovery to myself. You can get rid of the coins, one at a time on Ebay, or sell them one at a time to a reputable coin dealer. This should increase your standard of living without raising any red flags. TW

I want to state for the record that my speculation of the initial post had nothing to do with my car and bad shocks . This is a topic with regard to what one should not do to raise attention if ever discovering a great find. Have to admit that I'd want to play "finders keepers" with my recoveries.

Government believes they put as much sweat into finding a treasure when it comes to taking a share. Don't people understand that if one finds $5 on the ground it's reportable ?

Gary

[truckinbutch]

My Grandpa told me that sex and some other things ought to be done after dark and DAMN LITTLE
said about them !
I've heeded most of his advice ...... sex is great any time of day , just don't brag about it ...

[KGC4Dixie]

Gary, If you need some help getting rid of that loot....I would be happy to take some of it off your hands. Actually, I would keep the recovery to myself. You can get rid of the coins, one at a time on Ebay, or sell them one at a time to a reputable coin dealer. This should increase your standard of living without raising any red flags. TW

I wonder if eBay or coin dealer are obligated to pass on gold sales to any of the numerous federal agencies? When I find the treasure chest I wouldn't want anyone else thinking it was theirs too whatever politicians may think.

A thought crossed my mind last night. After considering that finding $5 on the ground is tax reportable , it makes me wonder that finding a $30 bayonet scabbard tip with metal detector is also. The Congress is CURRENTLY working on legislation to track every car and truck with GPS for sake of taxation based on mileage. Unless one has a mule this will also ruin anyone's known location when they strike it rich! Think about it(!!!).

Gary
(Disclaimer: It's every KGC member's responsibility is to undermine federal opportunistic ploys to prey upon the citizenry.)

[swiftsearcher]

TWolf and TButch are both right! TWolf regarding how to "dispose" of something and TButch in regards to sex being great any time during the day!

[swiftsearcher]

I guess the trick is NOT to do any selling in excess on eBay. I have bought/sold on eBay for over 12 years now and have sold many gold coins over the years. Just a handful at a time might not draw attention (a dozen or so a month). I am certain if someone went crazy and listed several hundred at a time, that would be a bad thing - especially if they never sold any coins on eBay before!

As many T-Hunters know, there are certain coin/bullion dealers in a certain state specifically that pay good money, pay cash, and don't talk!

T-Wolf is correct - BIG BROTHER is always watching (sometimes from helicopters), so don't store too much in your home or on your own property and don't get greedy! If you sell ten $20 Gold pieces a month, it should not draw attention and would provide you with well over $20k (depending on dates and mint marks, maybe several times this amount). If, for some reasons, you need a large sum at once, refer to paragraph two!

[KGC4Dixie]

Also, on a different topic, but related to this one.....beware of ANYONE that wants you to provide proof or documentation of your finds! Timberwolf

TW,

I'd heard about this trick years ago but forgot where. Any government agency has to get you committed to a written document for a good case. Let's say a bad apple of a relic hunter wanted to fool someone by telling them the nails he dug up came from Noah's Ark. A federal agent may start an investigation with whose land the artifacts were found on and go from there. Documentation is what they're after.

I prefer to keep whatever found for myself .

Gary