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gut
Posts: 15,058
Sep 6, 2012 10:20pm
http://news.yahoo.com/judge-says-10-rare-gold-coins-worth-80-152750965--abc-news-topstories.html
This is a fascinating story (and since it's yahoo, my apologies if it's 6 months old). Family finds 10 rare gold coins in a safety deposit box, to which they are the lawful owner. Valued at $80M, original face value $200 ($20 x 10)
Technically, yeah, the courts are correct that the coins were unlawfully taken from the mint. I guess there's no statute of limitation?
But they should get something, and it seems there's a precedent as the govt split proceeds of the last one found. Now, note that had these not been stolen [my word, not clear of the circumstance] they would have been melted down decades ago.
This is a fascinating story (and since it's yahoo, my apologies if it's 6 months old). Family finds 10 rare gold coins in a safety deposit box, to which they are the lawful owner. Valued at $80M, original face value $200 ($20 x 10)
Technically, yeah, the courts are correct that the coins were unlawfully taken from the mint. I guess there's no statute of limitation?
But they should get something, and it seems there's a precedent as the govt split proceeds of the last one found. Now, note that had these not been stolen [my word, not clear of the circumstance] they would have been melted down decades ago.
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O-Trap
Posts: 14,994
Sep 7, 2012 6:57pm
Black market, beyatch!
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gut
Posts: 15,058
Sep 7, 2012 7:02pm
That's an interesting question. Probably never occurred to them the govt would seize it without any recourse...Knowing that, would you quietly do a private sale (forget black market)? For that matter probably should have just melted it down. Imagine how you'd be kicking yourself, but how could you know?O-Trap;1264154 wrote:Black market, beyatch!
Pawn Stars here I come..."I'm hoping for $80M, but I won't take less than $500k"
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said_aouita
Posts: 8,532
Sep 7, 2012 7:37pm
I'm betting some 3rd party collector with smart lawyers and lots of money makes everyone happy.
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gut
Posts: 15,058
Sep 7, 2012 8:08pm
Moral of the story....you find 8 gold coins, you don't tell no one about 7 of 'em.