gold

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He Thinks He Found $55M in Gold. There's a Problem

Joe Pennisi can't attempt to retrieve the possible treasure

(Newser) - Around 2am one September night in 2014, Joe Pennisi started screaming in bed. His wife woke up, and he explained what had spurred the outburst: Video taken by GoPro cameras he had attached to the fishing net he used to trawl the seafloor off the California coast had captured a... More »

This Precious Metal Now Pricier Than Gold

Palladium is soaring amid tight supplies

(Newser) - Gold may be the best known precious metal, and it's currently selling for about $1,490 an ounce. But it's now in the rearview mirror of a different, lesser-known precious metal: palladium. About a year ago, palladium was selling at about $900 an ounce, notes Bloomberg . Today? More... More »

Appropriately Named Dog Helps Find a Gold Nugget

Discovery by 'Lucky' and his Australian family out for a Mother's Day stroll is worth about $25K

(Newser) - Not a bad Mother's Day morning: A family out for a stroll in Australia found a 20-ounce gold nugget estimated to be worth more than $24,000. "I actually walked right past it but my daughter pretty much kicked it as she was walking," the dad, who... More »

Hunt for Long-Lost Gold Runs Into Major Snag

Dominican authorities are investigating whether it's a scam

(Newser) - Thousands of Dominicans are seeking an immense treasure they believe is rightfully theirs—but it's an ocean away under lock and key, Bloomberg reports. Enter Johnny Portorreal Reyes, a charismatic 65-year-old lawyer who represents many Guzmáns and Rosarios, two families with similar legends of ancestors sending gold to... More »

Why Russia Is Stockpiling Gold, Dropping US Dollars

Does he see where the world is headed?

(Newser) - Russia is dumping US dollars and snapping up gold in an effort to move away from American assets, Bloomberg reports. Vladimir Putin has been amassing gold for a decade now, quadrupling the nation's bullion reserves, but 2018 marked a record as the country bought 274 tons of bullion worth... More »

FBI: No Civil War Gold Here. Treasure Hunters: Oh Yeah?

Father-son team think the agency secretly grabbed up to $250M worth of the precious metal in Pa.

(Newser) - The father-son duo of Dennis and Kem Parada spent years combing a bit of Pennsylvania wilderness with high-end metal detectors to prospect for a fabled cache of Civil War gold. They felt certain they'd found the hiding place, but at the end of the court-sanctioned excavation, the FBI in... More »

'Once in a Lifetime': $11M Worth of Gold Unearthed in Just One Blast

Miners in Australia discover 'mother lode'

(Newser) - With just one blast, miners in Western Australia unearthed two large quartz rocks containing gold estimated to be worth about $11 million, bringing the cache to the surface over four days. Australian miners often extract just 2g of gold per ton of rock—an expert says the gold particles are... More »

Man Who Smuggled Gold in Rectum Wins Economic Argument

Leston Lawrence thought he shouldn't have to pay back $190K

(Newser) - A Canadian man who smuggled six figures' worth of gold out of the country's mint in his rectum and ended up in prison as a result scored a final court win—one centered around market forces and gold prices. As previously reported, Leston Lawrence was found guilty in... More »

Legendary Lost Gold May Have Been Found

FBI overseeing dig in Pennsylvania, where a Civil War fortune might be buried

(Newser) - It's the stuff of legend: A wagon from the Union Army supposedly lost a huge cache of gold bars while en route from Wheeling, West Virginia, to the US Mint in Philadelphia in 1863. More than 150 years later, the FBI is overseeing a dig in a Pennsylvania state... More »

Millions in Gold Sank in 1857; Now, It's for Sale

The 2nd haul from the SS Central America, discovered by jailed treasure hunter, goes on block

(Newser) - More than $50 million worth of gold that's described as the greatest lost treasure in US history is about to make its debut in California after sitting at the bottom of the sea for more than 160 years. The 3,100 gold coins, 45 gold bars, and 80 pounds... More »

His Buried Gold Could Still Be Hidden Around the Bay Area

Thank the 'scatter-brained' Granville P. Swift

(Newser) - On the heels of a renewed hunt for treasure in a tiny French village comes the tale of buried treasure in California. The San Francisco Chronicle takes a look back at one of the state's colorful historical figures: Granville P. Swift, the great-nephew of Daniel Boone who came to... More »

They Found $2M in Gold ... in Sewage

And that's just the annual amount discarded in Switzerland

(Newser) - There's more than cash going down the drain in Switzerland. About $2 million in gold and $1.8 million in silver ends up in Switzerland's sewers each year, according to an environmental study commissioned by the Swiss government. Strange as it sounds, researchers at the Swiss Federal Institute... More »

Flier Hid $30K in Gold in His Butt

Sri Lankan man claimed he was involved in smuggling ring

(Newser) - A Sri Lankan man's "suspicious movements" at the airport in the capital Colombo led to the discovery of some $30,000 worth of gold stashed in his rectum, customs officials say. Officials noticed the 45-year-old "walking with difficulty and appearing to be in pain" as he waited... More »

Germany, in Secret, Has Shepherded Half Its Gold Home

The repatriation effort wasn't supposed to finish until 2020

(Newser) - It could be the plot of a Hollywood movie, albeit one where apparently nothing goes wrong: On Aug. 23, Germany announced it had successfully and in secret shepherded half its gold reserves back home, per Reuters . Germany's 3,378 metric tons of gold had for decades been stored in... More »

Men See Gold, Brazil Sees Jobs, Critics See Disaster

Brazil dissolves protected status of vast region, opening part of it to mining

(Newser) - The government says it's looking out for the economy and job growth; critics say it's "the biggest attack on the Amazon of the last 50 years." The BBC reports on a big move out of Brazil, where a protected area will be protected no more—at... More »

There's Gold in Them Thar Fed Vaults. We Think

Some suspect there isn't as much gold as the Fed claims

(Newser) - The New York headquarters of the Federal Reserve is either home to 6,200 tons of gold, a bunch of fake gold bars, or next to no gold, depending on whom you ask. The Fed has long claimed its vaults hold the world's largest gold stockpile worth as much... More »

The Price Tag Is Strong With This One

Gold Darth Vader mask could be yours for $1.4M

(Newser) - Star Wars fans might consider it a golden opportunity. Tokyo jeweler Ginza Tanaka is offering a life-size Darth Vader mask made of 24-karat gold at a hefty price of $1.4 million to mark the 40th anniversary of the release of the first Star Wars movie. The creation measures 10.... More »

Gold Coin That Weighs 220 Pounds Somehow Stolen

$4M theft happened Monday in Berlin

(Newser) - Thieves kept their eyes on the target in the early hours of Monday morning when they somehow circumvented a German museum's security system and made off with just one coin. But it's not just any old coin; the so-called "big maple leaf" Canadian coin is pure 24-carat... More »

California Flooding Has Prospectors Seeing Gold

The floods have exposed gold veins not accessible in generations

(Newser) - This winter's flooding in Northern California has done more than bring relief after years of drought; it's created the prospect of the best gold prospecting in 20 years. Gold hunters in the area tell the Chico Enterprise-Record the floods have "rearranged the rivers" and "move things... More »

Germany Gets Back Its 300 Tons of Gold From US

US had held gold since Cold War

(Newser) - Germany has completed an effort to bring home 300 metric tons of gold stashed in the United States, part of a plan to repatriate gold bars kept abroad during the Cold War, the AP reports. The German central bank said it brought 111 tons of gold back from the Federal... More »

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