I don't know if the U.S. government will demand the money back. I'm not sure the couple would have to return it.

If you possess something it is yours unless someone can prove it is theirs or you obtained it illegally. A newspaper article does not prove anything. The mint would have to prove those specific coins were the ones stolen. After 114 years the likelihood of any records existing with those details is about zero.

But advertising how they came across the treasure sure doesn't help their case. They should have kept their mouth shut and said great grandpa left the money.

Were dated before the heist actually happened.

I read the coins were dated AFTER the heist happened.

Some were before the heist, some up to the time of it. Supposedly, one of the coins was specially made by someone at the mint, and it was never intended for it to leave the mint, so there's that.

That would be my guess. Still better off than they were the day before, so it's still a big win for them!

gold coins > bit coins (imo)

that money is only what others think is money, the fact is, gold has been money longer than any other form of exchange that is not barter. Bitcoins have been "money" for an extraordinarily short period of time, and they are on the verge of becoming non-money.

Bottom line is, that gold will continue to be perceived as valuable until someone makes a machine that can cheaply turn other less costly materials into gold. I wouldn't hold my breath on that happening.

Say it was hundred dollar bills, which have serial numbers. If the bank had detailed records, including the serial numbers, it might have a claim. But gold coins? Who is going to testify these are the same coins that we're stolen? Speculation doesn't count.

How can the US Mint prove that those are the same coins? All they have is speculation.

Not due to a serial number of course, but rather because it was minted without the "In God We Trust" motto. All coins in that denomination and year that were released have the motto. The speculation is that the Director of the mint had it minted as a one-off, perhaps in reaction to Lincoln's assassination the year before (year before it was minted, not the heist itself).

If records exist to show that coin was one of those stolen, they might be able to make a case.

keep mouth shut.

Sell off most of coins, one at a time at coin shows. Get agent to sell rare ones at auction. Report all income to IRS.

Not rocket science, but keeping mouth shut is very, very hard to do.

I hope that they have to give some/most of it back. Maybe it'll teach them to zip their lips next time.

Not even a question for me. $5 million would be MORE than enough for me...

This is the applicable explanation of why they will probably have to return them:

Treasure trove is any gold or silver in coin, plate, or bullion that is hidden by an unknown owner in the earth or other private place for an extended period. The property is not considered treasure trove unless the identity of the owner cannot be determined. Under early common law, the finder of a treasure trove took title to it against everyone but the true owner. The U.S. law governing treasure trove has been merged, for the most part, into the law governing lost property. In the absence of a contrary statutory provision, the title to treasure trove belongs to the finder against all others with the exception of the true owner.

an ultra-rare 1866 Liberty $20 gold piece missing the phrase “In God We Trust” — a coin which was never released to the public and which must have been produced and kept within the mint itself.

The mint would have to prove its ownership of those specific coins. After 114 years not going to happen.

It's like when Double Eagles turn up.



The view of the government is that they're the Mint's property and if you don't want to turn them over, they're more than content to arrest you for refusing to surrender stolen property of the US Mint and take them. Not once has the US Mint ever been asked to prove by any US court that a Double Eagles coin is theirs or that the Double Eagles in question is one of the ones stolen from them.

No.

on their own assertion that it's theirs, without any burden of proof; one that has been upheld legally more than once.

It's insane but I believe based on that, the law favors the Mint here.

If you find something, shut up.

Exactly what were they doing in 1900? Hmm?

SF had at least three major news papers, a story like that one would have been reported, it may have even been reported in the NY papers. Seems kind of flimsy citing a couple sentences in a Hatian newspaper from 1.1.1900.

The SF mint kept fairly meticulous records, where are their contemporary inventory reports an reports of this theft?

I think it's too early to jump to to many conclusions. Although I do believe people in the Treasury Dept and some private individuals are trying to figure out way of extracting these coins from their finders.

...so they cannot be identified as stolen. They get to keep it, less taxes.

In fact, the U.S. Mint keeps no long turn records of who bought what and when.



This old SF'er here loves me old goldmine stories ...

A local kid (well, 35 or so) found 200 $1000 bills under an old house in St. Jo Texas in a leather satchel. He took it to the bank where they immediately confiscated it and checked to see if it was on the recorded stolen money list. A couple of weeks later, it was returned to him, as it was not on the list. It's probably worth $300K-$500K if he sells them individually. Now why couldn't that be me?

and the ones pictured are high quality uncirculated coins -- not proofs.

I suspect these coins were a collection that belonged to someone who opted to "hide" it when gold was recalled by FDR.

They'd rather bury it in the ground that give it up!

and ... years later it is found by someone walking their dog ...

then they don't have much of an ownership claim...

Just like those lost diamonds from the Swissair 111 disaster....