so. you think finding gold in oklahoma is hard?

[sweeperone]

Recently I researched some lost gold in Oklahoma. Some of it came from old Mexico, some from California. It was mostly stolen. Buried and left, all persons being killed it has lain there for many, many years. There are a lot of stories such as these and they spur our imaginations. But, I wondered, what if you DID find a large catch. The reality would set in, "now what?" let's say you found 100 gold bars buried a century ago and dug it up. Stick it in your basement? then advertise for a buyer? yea, right. It would be about 24 hrs and peeps would come into your house with a moving van and brandishing oozies. What about the legals? even if you had a contract with the land owner (should it be notarized) for a 70/30 split you with 70 he with 30. would the state have any argument which could be litigated? how about old Mexico (the legend speaks of some of it coming from old Mexico, but I guess they would have to prove it eh)?
opinions are nice, but, I would really like a person with experience or legal knowledge to give me some insight on this. Couple million dollars might be more problems than its worth lol.
A noteworthy treasure found would probably make the gold bars sell just like they are for a large part. In other words, to have a gold bar they could say "this is a gold bar from the old blah blah blah legend". might work for some, but at $105k a bar, lets face it, that's a pretty targeted market. Heck, I'm sure any one that reads this has relatives somewhere that would slit their throat for that kind of money hah. so there's the dilemma. dig it up, or not. Sounds like a no brainer, but if you just slow down and think about it, you better have a good plan before you begin.

 

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[sharpshooter]

Gold specie would be no problem at all.

Gold bars are a whole different matter as you have stated.

Most gold bars that I have read about have markings. They would have to be resmelted into smaller ingots and sold to scrap dealers over time as not to bring too much attention to yourself. Even if the gold bars could be tied to a famous robbery or some famous historical event, the risk of loosing them is too great to persue any extra added value they might have by linking them to such a story. As I see it - tell no one.

 

[sweeperone]

Thanks sharpshooter. That's kind of a confirmation of what I was thinking. Chunk it up a bit and spread it around to junk dealers. Perhaps stick the proceeds in a bank out of state and send a pittance to your local bank to get by on. keep your cards close to your vest, probably move, get a cpa from out of state as well to keep it square with the govt. Throw some to relatives later, but don't even let them know where it comes from.

 

[docmann]

Sweeperone,
I would acquire about four or five very basic ring molds and pour 15 or 20 of each every year or two , thus having about 80 to 100 gold rings to market with just a handful of marketers throughout the country. I would ask a decidedly lower price for the pieces so as to insure a ready market. I would make sure I didn't market a conspicuous amount with any one buyer. Then, when I'd accumulated about a million or two, I'd pay it on my bills as far as it would go! I could only wish this would be a problem I might have at some point.
docmann

 

[RGINN]

I think finding gold up here in Colorado is hard. But the thing I wonder about, and some of y'all will understand this, if I found a hundred gold bars, I might just keep them to look at now and then and show them off. And still die poor.

 

[Shott1970]

Well, you have brought up a good point, The US Goverment, other goverments, evan individuals who may have some kind of long lost claim from there grand fathers death bed, and than the criminals who would love to strike it rich off of someone elses hard work. What does one do if they were faced with that delima? Well if you smelt it, you have ruined the historical value and archeological value of such a find? If you leave it in your basement until you die, one of your kids who used to make fun of you for spending so mush time chasing a fairy tale will be more than happy to sell it all, and live happily ever after. Or do you leave it where it is burried and just smile every time you walk over that spot with a young buck that thinks he/she knows where the treassure is? Or do you take your chances and give uncle Sam his cut of 50% or so? If you find yourself in this most unfortinate situation, ask yourself what is morally right, and can you live without guilt in your desission and you may actually be surprised at who you really are?

That said, i would dig it up and right a detailed acount and bury it somewhere else, Let them hunt for it...

 

[savant365]

Sweeperone, I notice you only have 3 posts so welcome to Tnet. You may have already seen this post but if not it is a very good read and applies to your question.

http://forum.treasurenet.com/index.php/topic,86636.0.html

Good luck and happy hunting, Charlie

 

[Dodad]

I think Sharpshooter is right. Hide it, Melt it down and make smaller pieces, and send it in a little at a time to one of those cash for gold places. Who would ever think to look in small manilla envelopes for gold? Might take a while though. And you would have to keep it to yourself.

 

[lastleg]

Such paranoia over imaginary gold bar cache. Refiners could hardly
quibble with their customers about where it came from. Why sell at a
discount? Take a couple bars to the city and walk in to refining co.
and ask how much to run some gold your grandpa gave you. No big
deal. Gold is bought and sold daily, especially now with it over 1k troy.
If this find is not dore' but the real thing see what they will give you for
an ______ oz bar. Know you weights so you don't get scamed. Do not
carry any into the office. Kibitz with the people to get an idea of where
you stand. If you feel suddenly ill, walk. If you feel confident bring in
a bar for anylysis. This is what these guys do all the time. Relax already.

lastleg

 

[Raccoon]

Did you ever see the film, Rolling Thunder?
http://www.imdb.com/title/tt0076637/

A vet returns home from being a prisoner of war and they give him a bunch of silver dollars.
Very soon after that a bunch of border drifters and illegals invade his home, murder his wife and daughter and grind his hand off using the garbage disposal, trying to get him to say where the dollars are. He was brutalized in Nam and he freezes up and is unable to respond to their questions. You might want to watch this a few times before divulging any success stories.

There's reason why banks have thick stone walls and guards and sometimes even those don't work.

 

[OklaBuck]

Invest in some equiment furnace molds flux and ect. melt it down to 1/8 oz bars of what ever size ya want and visit the gold shows the GPAA put on all over the country such as the one coming to Okla city on the 22nd of may. Sell to private citizens for cash....Buck

 

[Libralabsoldier]

Another angle on the ring molds is eBay. You could sell the stuff left and right. Also, selling it to jewelry dealers will buy scrap gold no problem. Avoid the "Cash 4 Gold" scammers.

 

[Yellowhouse]

Have been told that Indian (Eastern variety) jewelers will buy gold in any form at spot price...no fuss no muss.

 

[goverton]

Another angle on the ring molds is eBay. You could sell the stuff left and right. Also, selling it to jewelry dealers will buy scrap gold no problem. Avoid the "Cash 4 Gold" scammers.

Ebay could be problem....they report to IRS over a certain amount of sales.

 

[TheRandyMan]

There are dozens of ways to dispose of it in small amounts over time and many here have suggested many fine examples. Also, the fact that you must melt it down/change its form and thus remove the identification stamps is an obvious must. Once that is done...gold is gold...You will have no trouble selling it. There are private buyers out there that will buy as much as you want to sell.