Historic Gold Coins Found In Albany Australia By Building Worker Worth $500K

By on May 18, 2011 in Australia, Business, Current Events, World Comments

A treasure-trove of historic gold coins was discovered by a worker in a construction site in the port city of Albany, according to reports by several international news sites on Wednesday, May 18, 2011.

Albany Gold Coins Site
Gold Coins Found In this site
Image Credit: Laurie Benson

The building worker unearthed a collection of about 400 gold sovereigns that dates back to the 1800‘s.

According to the police, an appraiser valued one of the coins at 16,000 Australian dollars ($17,000). Police estimates that all the gold coins will be worth around $500,000.

Wauters Enterprises, the construction site’s excavation company, turned over the gold coins to the property owner who claimed ownership of the treasure collection.

However, police are reportedly digging up law books to determine the real owner of the uncovered gold coins.

Below is the statement provided by police spokesman, Gerry Cassidy.

We’re not sure if it’s quite that simple.

Once you buy that property do you own everything on it? We’re looking at precedents.

It might even be that a museum issue crops up. Is there some state law that says historical finds need to end up in a museum?

Police have got to work out exactly how they handle it.

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