Gold And Silver Found By Treasure Hunters

2008-08-06 12:09:56

( Financial )



The quest to discover gold, silver coins, jewels and valuable objects has always been alive in the hearts of treasure hunters. Stories of gold and silver coins found in shipwrecks or buried underground continue to fascinate and amaze generations upon generations of even non-treasure hunters. In fact, legends of buried pirate loot and lost artifacts still inspire treasure hunting attempts to this day.

More recently, treasure hunters have started their underwater exploration in the pursuit of treasure reportedly hidden in shipwrecks. Modern technology has made it possible for marine archeologists and treasure hunters alike to explore wrecks that were previously though to be inaccessible. Spanish trade routes are famous exploration sites for sunken ships. It is said that gold and silver found in these treasure ships is certainly more than a handful.

Treasure hunters, in their eagerness to find treasure and other artifacts, often ruin the wrecks that could be a valuable archeological site. Because of this, treasure hunting is deemed illegal in several countries.

Those who have been lucky enough to have found gold and silver through hunting treasure find it can fetch a very hefty sum. A single gold coin piece can be worth at least several hundred dollars. It can definitely bring in more money if the gold and silver found is in mint condition and is considered rare.

Gold is found to resist salt water corrosion effectively, making coins made of gold more valuable. On the other hand, coins that are made of silver found in saltwater are more susceptible to damage. Once corrosion sets in, its value greatly diminishes. At this point, good old metal detecting for buried treasure might just be the way to go.

The rights to a treasure trove can vary in different countries. There is no guarantee that who found gold keeps it. One rule of thumb is when it’s in your property, it’s yours to keep unless there is an explicit owner. But be careful, income tax includes everything, even gold and silver found in your backyard.


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