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Univ. of Kentucky College of Law

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Friday, March 7, 2014

Couple Finds $10 Million Worth of Gold Coins in Old Tin Can

 Finders Keepers?

A senior expert at the firm representing a Northern California couple who discovered buried gold coins worth $10 million says he has not received any credible claims to the huge find and does not expect to.

Numerous theories have cropped up since the discovery of the Saddle Ridge Hoard was announced last week. One of them, that the coins were tied to a 1901 U.S. Mint theft in San Francisco, appeared to be debunked Tuesday by the U.S. Mint itself.

“We do not have any information linking the Saddle Ridge Hoard coins to any thefts at any United States Mint facility,” U.S. Mint spokesman Adam Stump said in a statement, adding that lawyers have looked into the matter.

The Northern California couple, only identified as John and Mary by Kagin's, had walked the path on their gold country property for years before they spotted the edge of a rusty can peeking out of the moss in February 2013. When the lid cracked off, they found dirt-encrusted coins, some in better condition than those on display in museums.

The Saddle Ridge Hoard, named for the space on their property, may be the most valuable cache ever found in North America, with an estimated value of more than $10 million. If you melted the coins, the gold alone would be worth $2 million, said David Hall, co-founder of Professional Coin Grading Services in Newport Beach, who recently authenticated them.

http://lawprofessors.typepad.com/property/2014/03/couple-finds-10-million-worth-of-gold-coins-in-old-tin-can.html

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