California couple finds $10 million in gold coins buried in backyard

[Shelby-villian]

$28k of gold content worth $10M numismatically.

http://touch.latimes.com/#section/-1/article/p2p-79440593/

 

[pmbug]

That's $28K face value. If I read that right, it's just over 1,400 toz or ~$1.9 million bullion value at today's spot (~$1,335).

 

[mike]

If I found gold in my back yard, I wouldn't tell a soul, but I would take it on the first speed boat out of town.

 

[11C1P]

That's $28K face value. If I read that right, it's just over 1,400 toz or ~$1.9 million bullion value at today's spot (~$1,335).

I'm guessing the collector value and condition of the coins is why they are saying $10million then? When I initially saw the story this morning I thought they were saying about 2 mill in gold, then later on I heard the 10 mill figure, so I was kind wondering what the deal was, but I suspected there might be a healthy difference between the scrap value vs. collector value and maybe that's where the mix up came.

 

[ancona]

The value apparently keeps going up as the coin grader looks at each coin. There is a very, very rare SF minted coin worth a million bucks all by itself. This is being called the biggest discovery of its kind ever in the US.

They should sell all those numi's to whatever suckers will pay that kind of jack for them, then turn around and buy GSE's and ASE's.

 

[mmerlinn]

If I found gold in my back yard, I wouldn't tell a soul, but I would take it on the first speed boat out of town.

And then we would have to watch you crying in your beer because your boat sank.

 

[Shelby-villian]

That's $28K face value. If I read that right, it's just over 1,400 toz or ~$1.9 million bullion value at today's spot (~$1,335).

Yes you are correct. I read they took one can home so I didn't think it was that many coins but later in the article they say 8 cans total and 1400 coins. So I'm guessing they saw the contents of the one can and went back and dug up the rest?

Must be an awesome feeling, digging up hoping to find 1 more can but finding 7 more!

 

[11C1P]

The plot thickens.

http://gma.yahoo.com/10m-gold-coin-...41317823--abc-news-personal-finance.html?vp=1

 

[Shelby-villian]

First rule of Gold club. Don't talk about Gold club. Hence my decision to post less to this site unfortunately.