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What if ???:detecting:

E

Elton

New member
While you were detecting you found a large buried cache of Silver ( Yes it has happened in the past) and, or Gold Coins.

This could happen at any time we go detecting. I have read there is as much money buried in the ground over the years as there is in circulation. Though I do question that theory.

#1. Would you take it and say nothing?.

#2. Would you try and find the owners, or relatives?.

#3. Would you make it public knowledge, or keep it quiet?

#4. Would you sell the valuable coins, or keep it for a collection

#5. Not sure if this is required, but would you claim your sudden wealth at income tax time?

It would be up to you, your choice would not be wrong no matter which choice you made..Lets hear your thoughts. How would you handle such an exciting find.
 
Those are really tough ?s. I think the last one is, if you let it be known, and the value is over $1,000, the tax man will be in your pocket, FAST.
 
I think I would pick # 1 , Then have my jaws wired shut so I couldnt tell,
and fingers broken so I couldnt type :rofl:

Terri
 
Although it has yet to be a problem for me, it would probably be # 1, as I think it is prudent to be fairly closed mouth concerning valuable finds of any kind. If it was coins of some type, I would probably sell them in a reasonable peace meal fashion so as not to send up any "red flags." Historically, on an annual bases, I sell off most gold and silver I find, anyway. Save, for the few jewelry items I have given away and some silver coins that have gone to my grandchildren. Interesting, Elton, and I can only hope that such a dilemma might yet occur. HH jim tn
 
Seldom do treasure finds ever go to a "rightful" owner anyway. Some birkenstock type makes claims based on historical value, and then they disappear. I vote keep it and keep your mouth shut.
 
n/t
 
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What I find I keep to myself or unless I'm asked to find some lost articles for someone
then its for that person.
Broad cast it and every leeches and reprobates will find you and declare its theirs.
 
n/t
 
haha, clever post, el! ok. so, accordingly, sir, i will give you some clever answers if i can. here goes!

1. since i would be detecting on land that did not belong to me, i would seek to split with the landowner. other than that, i would take my share and SAY NOTHING. ....until i logged onto finds!
2. we already know that if such a hoard were found, then EVERYBODY BECOMES an "owner" or a "relative". you know how it goes.
3. would i make the discovery known? you betcha. then i'd call the nearest ironworks to install bars on my windows. i already have an alarm system. but, you can't be too careful nowadays....
4. would i sell what i had found? no way! old american coinage in any condition is by far a better investment than the average annual yields in the last several years of the nyse. just ask my 401k.
5. there would be no need to claim your new found wealth at taxtime. what's been lost many years ago has been replaced many times over, and at the expense of our ancestors. what we do is find "quiet money" all the time. besides, i don't think it would qualify for capital gains unless it was gi - normous. i mean, who's gonna claim all the clad they found during the year? NOBODY.

well, el, congrats on finding the mother lode! that's the best advice i can give you. oh.... by the way, aren't we related somehow? dontcha remember me? haha, hh,
 
Hey Ghost, Did you ever wonder why the IRS doesn't go after us for the clad??? Think about it, $400.00 worth of clad all year, then subtract gas, wear and tear, repairs, batteries, equipment, new clothing, accessories, etc..... They would owe us money!!!!:rofl:
 
I would not say one word! Unless i was on private land then the landowner would only know that I did OK. I guess that is not a real good answer but unless I could trace it to landowner or otherwise, I would keep my yap shut, Beale.
 
There is no guarantee that the current land owners have any claim to the find. It may have been buried by anyone, at anytime.....Thanks for you response.
I think your thoughts are in the majority.
 
A nice answer....and I appreciate your thoughtful post. Thanks.Who did you say you were again ??????/
 
n/t
 
My pie-hole would remain closed ...and I mean closed....unless there was some type of pre-arrangement with the landowner :thumbup:
 
Elton,If I found a large cache.(Number 1.Tell no one) If you saw the movie 'No Country For Old Men' Is a good reason for being quite.The guy that stashed the stuff is gone and why have the family fight over the spoils.I would give a small percentage of it to a charity.With the forecast of the economy I would keep it in a safe place,in case needed.(Not a bank)
 
n/t
 
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