UPDATE: cache of gold coins with an Explorer & GPX4000

[bakergeol]

UPDATE: cache of gold coins with an Explorer & GPX4000

I did not know where to put this.

I saw this on another forum and was impressed. Nice gold coin finds with an Explorer.


http://www.findmall.com/read.php?27,489521,489521#msg-489521

http://www.findmall.com/read.php?27,489521,491788#msg-491788

Doing a little math - probably $60000 in coins in the picture.
George

 

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[EDDE]

Re: cache of gold coins with an Explorer

i just messed myself 8)

 

[Gypsy Heart]

Re: cache of gold coins with an Explorer

He is in the UK. Does he get to keep it or once its declared does he get it back?

 

[kenb]

Re: cache of gold coins with an Explorer

i just messed myself 8)

LOL

 

[bakergeol]

Re: cache of gold coins with an Explorer

He is in the UK. Does he get to keep it or once its declared does he get it back?

Here is his quote:

They are Celtic coins dating to 50BC... We have handed them in for a treasure inquest and they will probably be acquired by a British museum.

The find site was discovered by myself in an old book containing a map with an 'X marks the spot' reference to a previous discover of gold coins... I then simply related this old map to the modern landscape... we walked onto the field and found the first coin within 5 minutes.... and 42 by the end of the weekend.


He will be conpensated for them.

The Treasure Act, 1996 is a piece of legislation designed to deal with finds of treasure primarily those made by metal detectorists in England and Wales. It legally obliges finders of objects which constitute a legally defined term of treasure to report their find to their local coroner within fourteen days. An inquiry led by the coroner then determines whether the find constitutes treasure or not. If is declared to be treasure then the owner must offer the item for sale to a museum at a price set by an independent board of antiquities experts. Only if no museum expresses an interest in the item or is unable to purchase it can the owner retain it.

I believe he splits the money with the landowner.


George

 

[goldgrubber]

Re: cache of gold coins with an Explorer

Good Lord, I just drooled on the keyboard!

 

[treasurejack]

Re: cache of gold coins with an Explorer

Good law, fair law. We need one like it here in the US!
I'd still be frozen stiff from a find like that. lol

 

[TreasureTales]

Re: cache of gold coins with an Explorer

It's hard to imagine finding that many coins in one area, much less that many GOLD coins. How exciting would that be? Here's hoping the guy finds a few dozen more. Cheers to him from this side of the pond!

 

[Dimeman]

Re: cache of gold coins with an Explorer

Nice bunch of gold coins..........I think he needs lots of help finding those gold coins

I'll volunteer!!!! :P :P :P

 

[bakergeol]

Re: cache of gold coins with an Explorer

Nice bunch of gold coins..........I think he needs lots of help finding those gold coins

I'll volunteer!!!! :P :P :P

He posted his finds on a gold prospecting forum. He was seeking coil advise for a GPX 4000 which is the deepest detector for small gold. It certainly sounds like he is going back to detect for some more. Who wouldn't?

I wish him good luck but already he has made a find of a lifetime

George

 

[buscadero]

Re: cache of gold coins with an Explorer

The most incredible part of his Fantastic Find is the fact he found it with a Treasure Map!!!!! I guess research
pays off after all!

HH Joe

 

[Kas]

Re: cache of gold coins with an Explorer

Why is this guy looking for a different coil? He just found a crap load of gold coins with the machine and coil he has.

 

[bakergeol]

Re: cache of gold coins with an Explorer

Why is this guy looking for a different coil? He just found a crap load of gold coins with the machine and coil he has.

He found the gold coins with an Explorer SE to about 12". He just bought a Minelabs GPX4000 for a new machine and was asking about a new coil purchase. Now PIs such as the GPX4000 are REALLY hot on gold. VLFs like the Explorer or anything else simply can not compare depthwise to PIs for gold. It you can go deeper and detect these coins to 20" which the GPX4000 is probably capable of doing why not? He would simply go back to the site with the GPX4000 and detect 50 more gold coins that the Explorer was incapable of detecting. Remember these coins have been in the ground for 2050 years - most of them could be very deep. He also is most likely is in a plowed field in which the coins had been scattered throughout the soil depthwise for hundreds of years. Remember this was a cache that had been scattered- It took him the entire weekend to find. Perhaps the main cache hasn't been discovered yet and it just takes a deep PI to find it.

As those coins were valued at $1100 to $2000 apiece, it would not take many to recover the cost of the GPX4000.

George

 

[shadow0966]

Re: cache of gold coins with an Explorer

HOLY SH**,that is wad of gold coin and hope the compensation works out.
My god til now I thought "the x marks the spot " was a load of crap .
Now I only wish we had caches like that up here in canada.

 

[bakergeol]

Re: cache of gold coins with an Explorer

Why is this guy looking for a different coil? He just found a crap load of gold coins with the machine and coil he has.

He found the gold coins with an Explorer SE to about 12". He just bought a Minelabs GPX4000 for a new machine and was asking about a new coil purchase. Now PIs such as the GPX4000 are REALLY hot on gold. VLFs like the Explorer or anything else simply can not compare depthwise to PIs for gold. It you can go deeper and detect these coins to 20" which the GPX4000 is probably capable of doing why not? He would simply go back to the site with the GPX4000 and detect 50 more gold coins that the Explorer was incapable of detecting. Remember these coins have been in the ground for 2050 years - most of them could be very deep. He also is most likely is in a plowed field in which the coins had been scattered throughout the soil depthwise for hundreds of years. Remember this was a cache that had been scattered- It took him the entire weekend to find. Perhaps the main cache hasn't been discovered yet and it just takes a deep PI to find it.

As those coins were valued at $1100 to $2000 apiece, it would not take many to recover the cost of the GPX4000.

George

Well he did go back and find 20 more gold coins with his new GPX4000- so his GPX4000 is paid for.


http://www.findmall.com/read.php?27,489521,493511#msg-493511


Such beautiful gold coins
George

 

[jorge del norte]

Re: UPDATE: cache of gold coins with an Explorer & GPX4000

this is why we like md'ing.......

 

[Charlie P. (NY)]

Re: UPDATE: cache of gold coins with an Explorer & GPX4000

Boy. I remember the time I found a cache like that. I tried to keep it a secret but my frantic digging upset the dog and his barking woke me and my wife up. Big hole in the mattress.

 

[Dave45]

Re: UPDATE: cache of gold coins with an Explorer & GPX4000

this is why we like md'ing.......

If you had found this in the US they would have taken it from you.
I wonder how many finds of this nature have been found and sold on the black market because of our screwy laws.
By the government FOR the government

 

[tabfinder]

Re: UPDATE: cache of gold coins with an Explorer & GPX4000

OR...say nothing to anyone.....it wasn't theirs to begin with....the original owner is surely dead....lol.....statute of limitations!!! HAHAHAHAHA FINDERS KEEPERS....

 

[gollum]

Re: UPDATE: cache of gold coins with an Explorer & GPX4000

If you had found this in the US they would have taken it from you.
I wonder how many finds of this nature have been found and sold on the black market because of our screwy laws.
By the government FOR the government

Sorry, but you are sadly mistaken. If the coins were found by legal means (contract, permission, not trespassing, etc) the Government would have no interest. If you do the right thing, and pay the proper taxes (sales, income, etc) the IRS has no interest.

Hey SWR,

You know you're wrong about that. Without a law like England has, pretty much every state in the Union considers ANY item of 100 years or older to be of significant historical value. Even if found on private property, with the owner's permission. If you found something like that, Uncle Sam would swoop in and snatch it up, claiming it for the public good. I guarantee it!

Now, if you did the right thing, and filed all the proper paperwork, and got a treasure trove permit, before digging them up, the BEST you could hope for, would be to have Uncle Sam take the first 50% right off the top. You would have to pay for any expenses, legal fees, and whatever out of your half. Then, you would be required to pay taxes on your half (typically about 38% Fed and 10% State...I live in California). So now let's do the math........

49 coins value $1500 each= $73,500
After Uncle same Takes 50%= $36,750
After Taxes (about 48%)= $19,110
Figure $5000-$7500 for a GOOD attorney to negotiate your deal with the government= $11,160
After expenses (let's just asy $1000......conservatively), leaves you with a grand total of just over $10,000 for all your trouble.

Same situation in England:

49 coins value $1500 each= $73,500
Taken in trust by the Government until everything is finalized.
Independent board agrees with value of coins.
(easy scenario) Museum buys your coins for $1500 each. You get $73,500
Taxes in England are worse than in the US (maybe 60%) leaves you= $29,400


Best,

Mike