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Thread: Treasure hunting laws

  1. #11
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    Hi everyone!

    This has got me wondering, if someone was to find one of those legendary treasure (John Dillinger's lost cache or the Skeleton Canyon GOLD) or if I on my next Ghost Towning hunt; I trip over that 50lb "early retirement nugget" does it get taxed for just keeping it or only if one cashes it out? Or is it taxed at all? I'm curious about this, although the only treasures I find seems to be dusty tin cans and cactus!
    You who are on the road Must have a code that you can live by And so become yourself!

  2. #12
    Tsarevna's Avatar
    Tsarevna is offline Rawk Crawlin GPS Totin Ghost Towning Expert
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    Quote Originally Posted by Froggy View Post
    Hi everyone!

    This has got me wondering, if someone was to find one of those legendary treasure (John Dillinger's lost cache or the Skeleton Canyon GOLD) or if I on my next Ghost Towning hunt; I trip over that 50lb "early retirement nugget" does it get taxed for just keeping it or only if one cashes it out? Or is it taxed at all? I'm curious about this, although the only treasures I find seems to be dusty tin cans and cactus!
    I bet if you start asking around...those types of legal questions you'd get people following you, convinced that you already found a treasure!

  3. #13

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    OK,what could you find?
    They didn't have Paper Money. But Coins. where will you sell it? OK, Ebay were a solution if you didn't find too many.
    you also could find lost Gold or silver,but you have to report the Location,and you can't take more then for $500.- with you,as long as you claimed it not successfully. otherwise you get in trouble by selling it.
    If its on Publique Land you could take for each Member of your Family for up to $500.- with you and buy the Land. Well, Ok, but on Private Land?
    now, we have recession and the Landowner is happy to sell you the Land,....
    yep, That is it!

  4. #14
    GaryB's Avatar
    GaryB is offline Rock Crawlin GPS Moving Map Totin Trailblazing Expert Ghost Towner
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    If it was coin, you could likely liquidate it easily claiming it was a family heirloom.
    "I have a .44 and a shovel, I'm sure no one's gonna miss you" - Virginia City, NV

    http://community.webshots.com/user/GBodell

  5. #15
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    I know this is an old post but I have to admit this topic stirs me up a mite. I've actually been talking to my local senate critters here in Colorado to see why this law was ever enacted and how hard it would be to repeal. I have no issue with preserving antiquity but at the same time I am the one hard at work out in the field. If anything interesting happens I'll start a new thread with the results.

  6. #16
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    Just think if you were that metal detector in England who found the "Staffordshire Hoard" who had to give it all up in the name of the Queen.
    Atleast he was able to sell it to a museum and split the profit with the landowner. He HAD to have kept a few pieces to himself tho

  7. #17
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    Quote Originally Posted by old judge View Post
    the 1906 act clearly applies to government land or government controlled land. If flatiron and i stumble across $250,000.00 in 100 year old stolen bank loot while we're out nosin' around on government controlled land, there's liable to be a little ethics checkin' goin' on. I know flatiron would turn all that loot in without a second thought, but he might do it over my dead body. If we're on private property, of course we would notify the owner of the find, i think.........oj
    at my age i would keep it. If you have seen no country for old men, thats what i'am talking about. I would die rich. Hehehehe

  8. #18
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    While I don't know all the technicalities of the English laws I believe their system works like this... If you make a significant find or even a small one you notify the proper government authority. The British Museum gets involved and determines if it's of historical importance or not. If they choose to keep it they have to pay the full market value to the finder. If not they return it to the finder. In any case there is a 50/50 split with the land owner. The US could learn alot from this system. It would go a long way towards insuring that finds do get reported and taxes get paid on those finds. Our system of the government trying to find ways to take the valuable finds for themselves causes alot of otherwise honest people, to think hard about "doing the right thing" Just my humble opinion.

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