Fun on Friday: The FBI’s Treasure Hunt

The FBI has gold fever!

Back in March 2018, FBI agents descended on a remote wooded area in Pennsylvania and started digging. The G-Men were mum about their purpose at the time, saying only that agents were there executing a court-authorized excavation of “what evidence suggested may have been a cultural heritage site.” But recently released documents reveal that the feds were on a treasure hunt.

According to the documents, the FBI was digging for a cache of Civil War-era gold that was either lost or stolen in 1863 on its way to the US Mint in Philadelphia. And we’re talking a lot of gold here — perhaps tons.

So, why is the FBI engaged in this treasure hunt? Umm, I mean, digging for our “cultural heritage?” Apparently, there isn’t enough crime in America to keep the feds busy. And to be fair, who doesn’t want to find a big trove of gold?

Now that they’ve come clean – or been forced to come clean by an open records request – a gold hunt makes a lot more sense than the “cultural heritage” charade.

But here’s the real truth – Uncle Sam wants his gold.

Dennis and Kem Parada located the possible location of the gold. The father-son team co-own a treasure-hunting company called Finders Keepers – which I don’t think will be the case.

The duo went to the FBI (Nooooo! Why? Why would you do this?) after their sophisticated equipment located a chunk of metal they suspected was the Civil War gold. The FBI hired a firm that confirmed the possibility of a large metallic mass. And they said it could be 7 to 9 tons!

According to the AP, the Elk County site is on state-owned land. That required the FBI had to secure a federal court order to gain access. The legal maneuvering generated emails between Audrey Miner, chief lawyer for the Pennsylvania Department of Conservation and Natural Resources, and K.T. Newton, an assistant U.S attorney in Philadelphia.

In one email, Miner bluntly asked Newton, “Can you please provide the basis upon which the Office of the United States Attorney asserts that the gold, if found, belongs to the federal government?”

Newton basically said, nope. The federal affidavit was sealed.

What’s with these government people and their secrets anyway?

The feds claim they didn’t find anything on the dig and insist there was no gold. An FBI spokesperson said, “The FBI unequivocally rejects any claims or speculation to the contrary.”

Unequivocally. There ya go! They really mean it!

But the father-son treasure hunting team doesn’t believe them – unequivocal assertions notwithstanding. And to be honest, the FBI’s behavior is a little sketchy. It’s almost like they are hiding something.

The Paradas claim that the FBI originally agreed to let them watch the excavation. But they were ultimately confined to their car. On the second day, they were led to the dig-site and showed a big empty hole. And are residents reported hearing a backhoe and jackhammer overnight — when the G-Men claim excavation was on pause. Witnesses also claim they saw a convoy of FBI vehicles, including large armored trucks.

So – what do you think? Did the feds grab the gold and run? Or nah?

Fun on Friday is a weekly SchiffGold feature. We dig up some of the off-the-wall and off-beat stories relating to precious metals and share them with you – with tongue firmly planted in cheek. Click here to read other posts in this series.

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!