UPDATED: Mining Gold From A Trash Can

Mining Gold From A Trash Can by Rory – The Daily Coin

Apparently there’s gold in them there trash cans!! At least in South Korea.

It seems a janitor was doing his daily routing when he lifted an unusually heavy bin of refuse. Upon further investigation, the janitor who wishes to remain anonymous ( can’t blame him!! ), found 7 kilo bars of gold worth $325,000.

A janitor in South Korea who discovered seven gold bars in a garbage bin could keep them if no-one else claims ownership.

The unidentified male cleaner found the discarded gold bars, that each weighed 1 kilogram and were wrapped in newspaper, at Seoul’s Incheon International Airport on Thursday, according to local media reports. Altogether, the bars are worth 350 million won ($325 million).

The owner of the bullion is a Korean man, according to Seoul-based Yonhap News Agency, and two other men ditched the bars at the request of the owner out of fear of being searched at customs. CNBC

It doesn’t matter if the owner ever claims the 7 kilos or not as the janitor will receive a “finders fee” between 5 and 20% of the total value. How awesome would it be to come home from a hard-days work doing a thankless job and have somewhere between 1 and 7 kilos of gold? WOW!

Whether the owner makes a claim for the discarded gold or not, the janitor will still be able to keep 5 to 20 percent of its market price, amounting to between 17.5 million won ($16,250) and 70 million won ($65,000), in accordance with South Korean law, The Korea Timesreported. But he could also lose it all if the items are found to be tainted or linked to criminal activity. CNBC

My guess is the janitor enthusiastically showed up to work the next day and wether anyone thanks him or not he has the gold and now has tears of the Sun reigning down in his life!

UPDATE: the “finder” may not be eligible to keep any portion or reward – why? Because it’s Thursday and the government says so.

According to its Lost Articles Act legislation, if an owner doesn’t come forward to claim found property within six months, the finder will be able to take ownership. However, this doesn’t apply to employees on company property.

Ironically, if the finder had not been an airport employee, they would have been eligible to claim between 5-20% of the gold’s total price, a maximum of 70 million won (£48,000; $65,000) under the law.

It’s not clear who will take ownership of the gold at the end of the six month waiting period. BBC

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The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.