Questions raised over California treasure trove

New Straits Times

LOS ANGELES: A US couple who unearthed gold coins worth more than $10 million might have to return them as they may have been stolen, a report said.

The California couple uncovered eight cans filled with more than 1,400  coins on their property, in what is believed to be the most valuable treasure  trove ever discovered in the United States.  

They took them to a firm specializing in ancient coins, Kagin’s Inc, which  valued them and announced last week that they will sell them, via online retail  giant Amazon.

But on Monday the San Francisco Chronicle linked the find — called the  Saddle Ridge Treasure trove — to a robbery at the San Francisco Mint.

It published a newspaper report from January 1, 1900, referring to the  recent theft which it said mostly involved mint, uncirculated coins, with an  overall face value of up to $27,000 — similar to the Saddle Ridge trove.

Company boss Donald Kagin however told AFP he was “very confident” that the  Saddle Ridge trove was not linked to the San Francisco Mint theft.

“There’s a number of reasons why they can’t possibly be” connected, he said.

He cited records from the time of the San Francisco theft suggesting it  involved five canvas sacks filled with $20 gold coins — whereas the Saddle  Ridge horde also had $10 and other coins.

In addition the stolen coins “would have all been mint state, recently  struck coins,” he said.

“But only some of the coins in the Saddle Ridge horde are. Many others are  circulated coins, struck over a long period of time and clearly buried over a  long period of time.

“The only parallel here is the similar (face) value. But again, not even  that’s that close because of the different denominations,” he said.

He also pointed to a statement from the US Mint in Washington, sent to him  in an email, which said: “We do not have any information linking the Saddle  Ridge Hoard coins to any thefts at any US Mint facility.”

Kagin said plans to sell the Saddle Ridge hoard in about two months remain  in place.

Asked if he could guarantee to the couple, named only as John and Mary,  that there would be no hitches in the sale, he said: “Nobody can guarantee  anything.

“But we are absolutely on our timeline with and, to  be selling these coins sometime in May,” he added. AFP
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5 thoughts on “Questions raised over California treasure trove

  1. First mistake opening their mouths and telling the story.
    Second mistake selling them for fiat currency.
    If it were me and I had gold coins i would save them and use them for barter down the road a bit. Why would anyone who was fortunate to get such a bounty think of trading something of value for worthless trash? Gold for paper ridiculous.

    1. hay Sue i agree. i would NEVER let anyone know what i found accept my wife, as she knows how to be discreet.

  2. The Lawyers are Coming , the Lawyers are Coming…. just wait, the lawyers will get all of it…

    To the next person that finds a cache…. “Loose Lips SINK Ships.”..

  3. While I agree with all of you, I would never tell anyone other than my wife. However, this is pure BS! The statute of limitations ran out long ago and the stinking government has NO CLAIM!!!

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