You found the Mother Load, whats your next step?

[mope540]

hide the treasure like you would your firearms and ammo if they were ever outlawed....and if you are foolish enough to tell ANYONE about finding a treasure you deserve to lose it

 

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[savant365]

I don't know this for a fact but I would think that keeping a treasure would be a lot harder then finding one.

 

[Twisted Fork]

Wasn't it Jesus who said that If one finds a treasure in a field, to sell part of the treasure and buy the field from the owner?

If there is a real lode there, then the Spanish/Mexican surveys would have located it, earmarked it and landscaped it long ago.

If there is a real lode there, and the above can be visualized from some angle their markers present, then there is surely the temptation of acquiring a real metal detector and getting on with it since you are the key holder and there are caches to be had.

 

[goldfinder]

Assuming you can recover it - melt it down and drop the liquid gold into water. it will end up looking like placer. And placer is legal to sell. You can even put the nugs into a stone polisher for a little while and smooth it off to look even more like placer.
Goldfinder

 

[goverton]

Wasn't it Jesus who said that If one finds a treasure in a field, to sell part of the treasure and buy the field from the owner?

If there is a real lode there, then the Spanish/Mexican surveys would have located it, earmarked it and landscaped it long ago.

If there is a real lode there, and the above can be visualized from some angle their markers present, then there is surely the temptation of acquiring a real metal detector and getting on with it since you are the key holder and there are caches to be had.

Matthew 13:44 "The kingdom of heaven is like treasure hidden in a field. When a man found it, he hid it again, and then in his joy went and sold all he had and bought that field.

 

[stefen]

I take the 5th.

I know a guy who took a 5th one time and blabbed everything in a drunken stupor

 

[GrayCloud]

Sounds like he might have took a 5th of Whisky.

 

[Twisted Fork]

I know form experience that there are just a few things out there that are best kept to yourself. Otherwise, carry all you can and run like ..................

 

[Post-Apocalypse_Punk]

This is going to sound like the most naive, idiotic thing any of you have ever heard....but why does it have to be such a huge secret?! Why can't you tell anyone?

The only explanations I can think of is the possibility of someone else (including the government) trying to claim your find, and the risk of being robbed. Or of being arrested for theft or trespassing (though I've seen multiple mentions of knowing what's allowed and what's not, understanding state digging laws, etc, so that would seem an unlikely problem if one had any brains at all).

Please don't flame me for this!

 

[maipenrai]

Yes, you are naive and an idiot! Just joking of course. But the reasons you have given for not reporting the find, and trying to keep it a secrete, are exactly the reasons that it isnt very wise to report it. If you have followed different treasure stories, you will see that someone else is always trying to claim the treasure, even if it is just a small cache or a ship load of gold. It might be someone that lived on the land or their relatives, or it can be the government, and not only just our government, but foreign governments. Probably its the lawyers that are the biggest winners, on both sides, but we seem to be the losers.

The problem with keeping it a secrete, is that its just about impossible to do it. I have posted about this before, but not many agree. Besides the fact, that getting rid of the treasure is a problem, its just natural that we want others to know of our achievements. How do you keep it a secrete, and try to sell it? As someone suggested, you could melt it down and sell it as placer gold, but then of course when it is assayed, it could already be discovered that this isnt natural gold or even gold from the local area. Pretty soon, you will have so many stories that you have told the buyers, and then they will be on the safe side, and inform the police, that something weird is going on.

What about your family, you wont tell them either? Come on now, of course your going to tell your wife, and she will tell her sister, and she will tell her best friend. Your going to keep a low profile, and not buy a new car, or pay off the 100k morgage? Then why even go after a treasure if your not going to use it. You will definitely use it, and pay cash for that nice car, and of course the dealer will report it to IRS.

Its up to you to do with it what you feel good about, but just dont think you are the only sharp knife in the drawer, and everyone else are dummies.

 

[Post-Apocalypse_Punk]

"Then why even go after a treasure if your not going to use it. You will definitely use it, and pay cash for that nice car, and of course the dealer will report it to IRS."

So...if you can't tell anyone about your find, and selling it for the metal (or whatever) and spending your returns can get you found out...then what can you do with it?

 

[Frankn]

I have "thought" about this and here is my plan. Say you find a couple of hundred thousand in gold coins. You take $50k of the gold coins to the auction and claim the money on your tax return and pop the money from the auction in a bank account. Your increased spending is covered in the eyes of the IRS. Now you buy a new car and put 50% down and finance the rest. The sale is not reported as is a cash sale. You quietly pay it off early. You do a lot of traveling after you have mapped out a lot of coin dealer locations and sell small amounts for cash at each location. There is no required recording for money. Your travel is all paid in cash from the sales so there is no paper or electronic trail. It works.

 

[maipenrai]

I like your plan about the auction, and that would cover a lot of your extra affluence, and probably the car payments might work as well, but the last part, going around the country side and selling coins. Maybe I watch too much CSI, but the thing is, people in the same business, know or mingle with the same type of people, and they like to talk shop. I can imagine a scenario where coin dealers are together, and someone brings up the fact that a customer brought in some gold coins, with such and such dates. Then the others realize the same person also brought them the same coins. Maybe they just have a big laugh, and think they are stolen coins. But maybe there is someone that needs to tell the police, either he is friends with them, or maybe he is in a tight situation, where he is in some trouble, so he of course tries to get out of this situation, by telling them about other shady things going on, such as a weird guy selling gold coins, and even without records, you would still probably be on tape.

I know this is a bit far out, but thats how things can happen. My whole point is that it is better to work out a legal way of doing things, because once you start on the shady side of things, more things can happen that you planned for, and the results maybe be disastrous. Of course being paranoid isnt the answer either, and nobody is concerned with a small cache, except the land owner maybe.

BTW Frankn, good luck with your big hunt!!

 

[Frankn]

Maipenrai, You bring up a good point. When I said travel around selling some coins, I meant selling at dealers spread out all over the USA, not close together. But, perhaps a modification is required here. That would be to sell 25% at auction, declare 25% more, and sell the other 50% around the USA. That would be a safty factor to cover any uncovered sales. That should take care of the loose ends.

 

[Captain Obvious]

Donate all to Obuma's campaign!

Then get a cush job in the WH

Don't pay taxes like them other bums in there WH( ta Big House) and be
a House slave!

Then go on welfare and food stamps


OR you could just change them coins for real "change and hope!"



and get some of them new fangled Fiat poop paper wipes called Euros

"What the What!" What were you thinkin dude?!

Cash gold to silver coins and go to Disney Land! with NY Giants Manning!

I used to post here often with my other account. I stopped because of things like this.

On topic, you are getting a lot of replies on how to cheat everyone out of everything. If you were to wander through my backyard, and find a pot of gold the previous neighbor buried, you would have discovered it upon land for which I have paid. That makes you a trespasser and EVERYTHING you do is based on you defrauding ME. It's not a you-vs-the-government issue. It's you-vs-me. If it is treasure stolen from a group of people, it is property to which I have no legitimate claim and it's MY LAND and now its you-vs-legitimately-recognized owners. When you discover a cache, you can either be completely illegal and take advice from all of us, none of whom is willing to admit they've ever found any, and most of whom are only concerned about getting rich, or you can actually speak with a lawyer, and discover what your options as far as keeping the money or a portion of the money actually are.

FWIW I agree with the (shockingly few) voices of reason and recommending that you talk to an attorney, make sure they understand this is a consult so you evoke privilege, and understand that governments exist primarily to resolve ownership disputes. A government (probably more than one) will get involved. I can't speak for how to sell it. I generally don't sell what I find.

 

[Tuberale]

After carefully reading all the posts on this thread, I stand by my original post.

The legal concept of "treasure trove" is not recognized in many states. In others, it is "de facto". Make CERTAIN you "find" your treasure on your own property in a "treasure trove" state. (That includes buying property there first.) Consult a lawyer before liquidating any of said treasure.

If what you have found is 1700's gold and silver coinage as originally stated, you will need to anticipate the questions such a find will cause. Melting such coinage without covering your assets is ... stupid. Sometimes all you need say is a small notice in a local newspaper that you found a sum of money. DO NOT give said money to the police: cases exist where they do not return the original coins. DO keep the coinage in a safe deposit box, and answer all inquiries for said found money through your lawyer. (GET ONE!) DO NOT turn any rare coinage over to a governmental employee. Make sure you discuss all aspects of your find with your lawyer before proceeding!

Some on this thread have suggested melting the coins into bullion for sale. I have been looking at a cache for several years that has 400 $50 gold slugs from early-day California. Melting such coins into bullion would be economically foolhardy. Said cache likely also has other early-day private-mint gold coins. Some of these are worth hundred of thousands of $ EACH. Melting any of them would be the absolute last course of action I would consider.

Several years ago, while writing for treasure magazines, I received a letter with polaroid photos of a gentleman who had found his first gold coins. They were part of an early-day coin collector's collection, and were not found after his death. Smart TH'er found that cache within three hours of getting on the abandoned property. Collection included: complete set of $5 and $10 Liberty Head and Turban Head gold coins; complete (including proofs) set of Trade Dollars; 10 Continental Dollars; 10 1793 Half Cents and 10 1793 Cents. All were found in a miner's lunchbox with the coins wrapped in oilskin. Finder wanted to know how to proceed.

I asked him if he wanted/needed money. He said he had enough. Did he want to leave the coins to his sons/daughters? No.

How about his grandsons/granddaughters? Yes.

I suggested he take out a long-term bank box, and leave the location and key to the box to his grandchildren in his will. AFAIK he did that. When that cache is sold at auction, it will make immediate headlines around the world. I haven't heard of it to date, so hope he is still alive and kicking (although he was in his 60's 30 years ago).

The state he lived in (east of me) does not accept the legal concept of treasure trove. All "found money" reverts to the state. But possession of coins in an estate is treated differently than "found money."

Here's a question: assume you found the cache described above. How would you liquidate it? When? Would you melt it down? Why?

 

[goverton]

You found that buried cache of coins and paper money. You are now traveling home........In comes the police......They stop you cause your are out of state license plates and they say you were weaving back and forth over the center line(Probable Cause). They ck out your car and find your newly discovered cache. They confiscate it!!! Good luck getting it back.

All states have Civil Forfeiture Laws! Watch the below videos and you will see what I mean!

Tennessee



Texas

 

[ivan salis]

yep once i had a old caddy * my local seafarers international union hall in jacksonville , florida was in a nasty dope infested area -- once I got a several thousand dollar "union' bonus check * I decided I would cash out my "bonus" check and go buy me a "newer" but still used model caddy to replace the one I was driving (nothing bargins better for a used car than "cash in hand" ) --so I went to the nearby bank the union used and cashed out said union bonus check into cash --as I was driving out of the "hood" area -- a cop pulls me over -- he asked for "papers' please --as i took out my wallet to get my drivers ID --he sess that it is full of cash --his eyes lit up --uh sir , were going to have to take that money based on the ideal that it is drug money * as he statred to reach in and grab my wallet -- bullcrap i said as I jerked it away from him -- I said I just got a union 'bonus" check at my union hall , and cashed it out --the check stub is in my brief case and I can sure as hell prove its both legal and mine -- so you aren't taking my money .

I told him -- if you want some "shakedown" money , you can go "rob" some real dope dealers , cuz their not going to show up at the police station going --oh dats my dope money .so go get yer "dope tax" money from them -- and leave me be. *

you see word on the street was ---that the local area cops were "robbing" the dope dealers , saying that they were "impounding' the money based on the fact it might be dope money * of course the dope dealers were not arrested "on the spot" but they were told that if they could "prove" legal ownership of the money --they could "reclaim" it - of course no dope dealer was ever fool enough to show up at the police station house going --uh dats my dope moneys ya'll took.

baasically --the dealers got a "pass' on getting arrested and the crooked cops kept the money they found -- shakedown via the badge.

that cop cut me loose that day ---however --- later on some jax cops were arrested for "pulling over" and then killing a bussinessman that was carrying a large sum of cash on his person to use as "change cash" for a string of 7 -11 type stores he owned. --the mans name was * sammy safar *

 

[maipenrai]

As long as the police are a profit making business, they are going to be more worried about their profit, than just lawbreakers. There's a danger that if they get two calls at the same time, and one involves maybe a big amount of cash, they will go after that, and leave the other, until they have time.

 

[oldsalty19]

Always observe the three Ss......Shovel, Sift, and Shut up!!!!!!!!