Approximately 600 Gold Ounces Playing a Happy, Yet Sorrowful Tune

Approximately 600 Gold Ounces Playing a Happy, Yet Sorrowful Tune by John Rubino – Dollar Collapse

Some lives were changed recently:

Gold Treasure Found Inside A British Piano

(Mercury News) — British officials say they’ve been unable to trace the rightful heirs to a trove of gold coins found stashed inside a piano and worth a “life-changing” amount of money.

The Shropshire school that owns the piano and the tuner who found the gold are now in line for a windfall after a coroner investigating the find declared it treasure. The couple who owned the piano for three decades before donating it to the school will likely miss out.

Coroner John Ellery said Thursday that, despite a thorough investigation and a public appeal for information, “we simply do not know” who concealed the coins.

The 913 gold coins which were found in a piano, are displayed at Ludlow Museum in Ludlow, England Thursday April 20, 2017, where they are being kept under lock and key.

The hoard was discovered last year when the piano was sent for tuning. Under the keyboard — neatly stacked in hand-stitched packages and pouches — were 913 gold sovereigns and half-sovereigns minted in the 19th and early 20th centuries.

Piano tuner Martin Backhouse said when he found the pouches and slit open the stitching, he thought: “Ooh, it looks like there’s rather a lot of gold in this.”

The hoard, which weighs 13 pounds, has not been formally valued. But Peter Reavill of the British Museum has said it is worth a “potentially life-changing” amount.

Revenue from items declared “treasure” is generally split between the owner — in this case, Bishops Castle Community College — and the finder.

The piano was owned for 33 years by Graham and Meg Hemmings, who donated it last year to the school close to their home, near the Welsh border about 45 miles west of Birmingham. Meg Hemmings said she’s not bitter at missing out on treasure that was right under her nose.

“The sadness is, it’s not a complete story,” she said. “They’ve looked and searched for the people and they unfortunately haven’t come forward.

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John Rubino

DollarCollapse.com is managed by John Rubino, co-author, with GoldMoney’s James Turk, of The Money Bubble (DollarCollapse Press, 2014) and The Collapse of the Dollar and How to Profit From It (Doubleday, 2007), and author of Clean Money: Picking Winners in the Green-Tech Boom (Wiley, 2008), How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street (Morrow, 1998). After earning a Finance MBA from New York University, he spent the 1980s on Wall Street, as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.