The Man Who Stashed $200 Million In Silver Dollars

by Tuscola Joe

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The Guy Who Stashed Million In Silver Bucks

Upon the death of 77-12 months-old Lavere Redfield in 1974, the IRS seized his  estate.  In the course of their search a false wall was found out  and knocked down, revealing a cache of over four hundred one,000 coin bags, or 400,000 silver bucks - which weighed a staggering 11 tons! (A standard bank vault couldn’t hold them all.) The estate was valued all around million, and to this day continues to be a single of  the biggest personal silver dollar collections actually observed, identified as the “Redfield Hoard”.   

Simply because of the vast number of coins, the exact inventory of the Redfield Hoard of silver dollars was mysterious.  Astonishingly, more than 350,000 of the silver dollars had been uncirculated, even now in mint issue.  At auction, there were so a lot of coins the whole lot could not be correctly examined by possible bidders. The entire assortment went  to the top bidder for a mere .3 million…

LaVere Redfield was born into poverty in Utah, in 1897. In his early twenties he produced a meager living, digging potatoes in Idaho. From there he went on to manage a  department keep.  

Following mindful saving, he started creating investments.  In the course of the depression, in 1929 he moved to Los Angeles, discovered about the stock market  and became a stock broker, later attaining a status for gleaning the genuine value of stocks. He would get blocks  of  stocks that no one particular else wanted - earning him the nickname "the junk man”.  His  investments paid out off handsomely some of his stocks  became really beneficial. 

Upon acquiring an outstanding quantity of funds in 1935, (nevertheless the Depression era) from investing oil and mining stocks and actual estate, he moved to Reno. There  he acquired  land and a large stone home, and commenced his pastime of amassing silver bucks.  Periodically he would go to the financial institution and get bags of 1,000 silver bucks. At the time, US silver bucks could be bought  for and marketed by most financial institutions.  And as all the casinos in Reno utilised silver dollars, the financial institutions stored a ready offer on hand.

Redfield didn’t have confidence in financial institutions for conserving his funds, preferring to keep the silver dollars at property. He would acquire them in his pickup truck and stash them in the basement, most likely dropping  the bags down the previous coal chute.  Many of the coins have been mint condition, uncirculated.  Others were badly marked,  from rubbing versus each other throughout transit. Before long  word obtained out about his love of  silver bucks, and he was robbed a few occasions. Possibly because of to the robberies he started buying coins from financial institutions additional afield.  Occasionally he would market a number of bags of silver dollars, when he felt the timing was appropriate.  

He acquired a status as an eccentric during this time period, partly due to his mistrust of banks, but also because of to his option of apparel – worn old jeans and low-cost shirts - continuing  to drive an previous dilapidated pickup truck,  known to be a notoriously very poor tipper in the casinos, and often paying afternoons at the library watching no cost movies!  

Tale has it that he the moment paid out for land at a tax auction with ,000 in cash – carried in a searching bag! He also opted to shell out some time in jail, to avoid paying fines.

In 1960 Redfield was indicted, for non payment of  5,000 in income taxes. Rather than spend cash on an lawyer, he defended himself, was found guilty and served eighteen months of a five-yr sentence.

Estimates reveal that at a single time he had a  cache of  about 600,000
silver dollars.  When his residence was burglarized in 1963, reportedly
roughly 100,000 silver dollars ended up taken, which most likely encouraged him to create the untrue wall, to conceal his stash.  

  In which are the Redfield silver bucks now? 

Nearly four decades later, they might be everywhere. Each now and then a silver dollar turns up in a special holder with Redfield’s title on it – the only way they can be distinguished from other previous US silver dollars.  The fascinating factor is, that it is nonetheless feasible, when buying old silver dollars, that you may possibly be keeping one of the unique silver dollars lovingly collected by LaVere Redfield!

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