$500K worth of 'Pirate treasure' found in a storage locker.

[cpthnsolo]

I guess the episode hasn't aired yet so that's why there aren't very many details. I just don't understand why the picture is of silver coins if the discovered booty contained a half million in gold . I'm sure the show is wholly or partially scripted as the initial story certainly doesn't pass the smell test. Having said all that though I'll certainly watch the episode whenever it airs .



The people behind "Storage Wars" just stumbled upon their most incredible discovery yet -- a real-life pirates' chest that's at least 200 years old ... containing half a mil in gold doubloons

Dan and Laura Dotson came across the stash inside a foreclosed storage locker at an auction in Contra Costa County, CA -- which they sold off to one lucky bastard for just over a grand.

The Dotsons discovered the pirates booty after auctioning off the locker -- a small treasure an expert described as "Pieces of Eight Spanish Gold," dating anywhere between the 16th and 19th century.

According to one source, the coin box was so heavy ... it took 3 people to move it out of storage.

We're told an appraisal expert valued the collection at around $500,000. Yo ho ho!

LINK:
http://www.tmz.com/2011/11/13/storag.../#.TsFEQPQr27t

[Juristic Person]

Somebody is going to be collecting...

That guy should disappear.

[Gcubed]

$500K in gold aint that heavy.

[Rollie Free]

Somebody is going to be collecting...

That guy should disappear.

Absolutely. Whenever anyone sniffs that much wealth they will try to absorb it. Whether it be someone having 'rights' to it or the govt.

[Irons]

$500K in gold aint that heavy.

Lost track of one of your stashes, didn't cha. ~

[SongSungAU]

I think this is just hype to get viewers and then they will discover that it isn't real bounty but just a bunch of fakes. ???

I'm skeptical that someone would put a heavy trunk ( or a "pirates chest") in storage without knowing what was inside it.
Once they knew what was inside, I doubt they would put it in storage.
If they did put it in storage, I doubt they wouldn't pay the monthly storage bill and loose their treasure.


I think you're right, cpthnsolo... something doesn't smell right.
I'd watch the show though just to see what happens.
Guess the story did its job.
:-)

[Gcubed]

Lost track of one of your stashes, didn't cha. ~

Come on Irons! Ya know that those "high tech" lockers only gots copper in 'em.

[Fixture]

...I'm skeptical that someone would put a heavy trunk ( or a "pirates chest") in storage without knowing what was inside it....

I agree that the person doing the storing knew exactly what was in the storage unit. However, as a practical exercise, who would have an unclaimed storage locker?

Perhaps somebody who is now deceased or in prison. Perhaps a well-heeled estranged spouse who is concealing assets from a forensic accountant? Somebody who has left the location and failed to leave a forwarding address. All those scenarios are within the realm of possibility.

A few years ago, I saw a news story on a local station where someone had in fact bought the contents of a storage locker. As they were moving stuff out, the sofa was way heavy. The back of the couch fell open revealing lots of ammo and many rifles and handguns. Some (if not all) of the rifles were automatic rifles. Get caught with them and prison is your destination. That's why the buyer notified the police. Yes, they seized the rifles but I'm not sure whether they seized all the weapons or ammo.

If I lived near a major metro area and saw the legal notices for storage unit auctions, as part of my research, I would check online records for obituaries, divorces, IRS liens et cetera, to see whether the owner of said property was well-heeled, or a dope seller/criminal who has since gone to prison. That might be some interesting data to review.

I'm not sure whether the purchasers have to produce ID when they pay for the unit, but if not, my name would be Mr. Smith from Seattle. Also, if I were to find something sweet, I'd never cop to it or announce my discovery.

Some dope dealers in the past have been arrested and when a search warrant is executed, not only is dope found, but cash, collectibles, artwork and so forth is confiscated as well. I wouldn't put it past someone to have their anonymous stash hidden in a storage unit under an alias with a fake address.

[Goldhedge]

$500K in gold aint that heavy.

and probably less because they'd be collector items...Figure 20 lbs or so @ 300 oz?

[Treasure Searcher]

People conceal their assets from others all the time. Whether its the estranged spouse, IRS, debt collectors, etc. they are hiding it from.

Advertising what you "found" in your storage locker purchase can come back to haunt you. Someone at your door with a court order seizing your newly acquired treasure, can wreck your day.

[SilverCity]

$500K in gold aint that heavy.

No it isn't.

SC

[Fixture]

Advertising what you "found" in your storage locker purchase can come back to haunt you. Someone at your door with a court order seizing your newly acquired treasure, can wreck your day.

Yup...the old story about keeping yer mouth shut comes to mind.

[bemac]

In the third (iirc) episode of Storage Wars, Darrel bought a locker he didn't actually want to win. But, he ended up finding $4000 worth of silver coins in a big box, including a coffee can filled to the rim with silver quarters. He said during the show, they were worth about $3.25 each, and good for him, he also said he was going to keep it all instead of selling because "gold and silver always go up." And he was correct, because that's over $8000 worth of silver today. I think he paid $450 for the storage unit.

I just watched another episode where the guy and his GF or wife (forgot what their names are) found over $10k worth of old collectible toys.

$500k (~ 281 oz) in raw gold isn't heavy, but if they were numismatic coins, and/or sets, it could get there. I know I have a special mint gold set from Singapore which only contains .40 oz of gold, but the wooden box that holds them weighs more than the metal.

[GoldenEye]

Doesn't seem to be a story to drum up viewers specifically, as they were not shooting at the time of the purchase. And it looks like the previous owner is deceased.

The man, who asked to only be identified as John, bought the items inside the unit at an auction by American Auctioneers, the California-based auction company featured in the A&E show, "Storage Wars." The show wasn't filming at the time of this purchase.

In California, contents of storage units can be auctioned off as a single purchase when the renter fails to pay for the unit for three months. Those who bid at the auction usually have little or no knowledge of what it inside. In this case, the storage unit's had been rented by an elderly woman who died.

http://www.sfgate.com/cgi-bin/articl...BACP1LV1BV.DTL

[C4talyst]

I run a blog about storage auctions and covered this find the other day. A gentleman contacted me claiming to know who the original owner of the unit was. I vetted him and believe he is telling the truth. He met the owner in jail over 5 years ago and befriended him. He was asked to maintain the guy's storage units and apartment while he was in federal prison for money laundering. Apparently the gold was related to the fraud and money laundering the guy was involved in. I'm working on getting more info...not sure if it's ok to link to my blog, if so, I'll post it later.

[cpthnsolo]

I run a blog about storage auctions and covered this find the other day. A gentleman contacted me claiming to know who the original owner of the unit was. I vetted him and believe he is telling the truth. He met the owner in jail over 5 years ago and befriended him. He was asked to maintain the guy's storage units and apartment while he was in federal prison for money laundering. Apparently the gold was related to the fraud and money laundering the guy was involved in. I'm working on getting more info...not sure if it's ok to link to my blog, if so, I'll post it later.

LINK LINK LINK!

[C4talyst]

Alrighty...well, hope I don't get in trouble here for posting a link to my own site:

http://storageauctioncentral.com/201...orage-auction/

The article is simply my original coverage of the find; I have not posted info about the guy claiming to know the original owner, but I plan to in the next day or so.

[Book]

1) Before the "auction" inspect the contents of abandoned units.

2) Cherry-pick the contents and remove the good stuff.

3) Put a used rusty padlock on the door.

4) Act all innocent during the "auction".

5) To promote your teevee show salt one unit with "Pirate gold coins" and have your own family bid on it.

6) Make sure teevee crews are present during the find.

only way to get fools to bid on millions of unknown storage lockers during this great depression

[Someone_else]

I think it would be really funny if one of the participants played an expensive prank on one of the others.

Picture this. The unit is opened. In the middle are several pallets with large wooden boxes on them. Over to the side is a motorcycle cover that looks like it has a motorcycle under it. On the other side are some tall, thin boxes with "Winchester", "Ruger", and "Remington" on them. In the back, partially hidden by the wooden boxes, appears to be a grandfather clock and part of a tall jewelry safe. Wow!

As a setup for the prank, maybe the trickster went down the yacht docks and identified some rich dude who was going on a long trip. Makes a nice back story. Or if nothing better, he looks through the obituaries and hopes the storage place doesn't check.

Now, back to the auction. When the joyful winner pulls the motorcycle cover off, he sees that it was held up by a sawhorse with a couple bits of lumber to fill out the cover in the right places. The large wooden boxes on pallets are full of gravel. The partially visible grandfather clock is just a poster. The "jewelry safe" is a large cardboard box painted black. Those tall, thin boxes? Also filled with gravel.

Dude! You just bought a load of gravel! Hope you brought a shovel!

[Mr. Shiny]

... He met the owner in jail over 5 years ago and befriended him. He was asked to maintain the guy's storage units and apartment while he was in federal prison for money laundering. Apparently the gold was related to the fraud and money laundering the guy was involved in.....

..........

According to the San Francisco Chronicle, the unit was owned by a recently deceased elderly woman.

[cpthnsolo]

I think it would be really funny if one of the participants played an expensive prank on one of the others.

Picture this. The unit is opened. In the middle are several pallets with large wooden boxes on them. Over to the side is a motorcycle cover that looks like it has a motorcycle under it. On the other side are some tall, thin boxes with "Winchester", "Ruger", and "Remington" on them. In the back, partially hidden by the wooden boxes, appears to be a grandfather clock and part of a tall jewelry safe. Wow!

As a setup for the prank, maybe the trickster went down the yacht docks and identified some rich dude who was going on a long trip. Makes a nice back story. Or if nothing better, he looks through the obituaries and hopes the storage place doesn't check.

Now, back to the auction. When the joyful winner pulls the motorcycle cover off, he sees that it was held up by a sawhorse with a couple bits of lumber to fill out the cover in the right places. The large wooden boxes on pallets are full of gravel. The partially visible grandfather clock is just a poster. The "jewelry safe" is a large cardboard box painted black. Those tall, thin boxes? Also filled with gravel.

Dude! You just bought a load of gravel! Hope you brought a shovel!

LOL remind me to never piss you off !