$500,000 in Gold Found at Storage Auction

[Updated on 11/15/2011 at 19:40 EST]

Dan and Laura Dotson, the famed auctioneer team from the hit show “Storage Wars”, tweeted that a Bay Area auction attendee paid $1,100 for an abandoned unit and then found treasure inside consisting of approximately $500,000 in gold doubloons.

Click the image to view Laura Dotson's twitter page.

Several articles have been posted on this and details on the score vary:

http://www.tmz.com/2011/11/13/storage-wars-half-million-dollars-worth-pirates-gold-found/

http://www.tmz.com/2011/11/13/storage-wars-half-million-dollars-worth-pirates-gold-found/

http://www.tmz.com/2011/11/13/storage-wars-half-million-dollars-worth-pirates-gold-found/

Some outlets reported that the gold coins were found in an authentic 200-year-old chest; ABC News interviewed the Dotson’s and reported that the coins were found in a plastic rubbermaid container. It was also reported that a few gold and silver bars were found.

Commenters all across the web have been calling BS on this find, some saying that it’s a possible ploy by the producers of Storage Wars to generate publicity, but I wouldn’t be too quick to judge. Large finds like this do happen at storage auctions. They are extremely rare, but people find contents valued in the hundreds of thousands every year. It’s quite likely the owner died and had no family who were aware of the unit, or is perhaps in prison and had no means to maintain management of the lease.

With this much money on the line, I expect more twists to the story as time progresses. Storage Auction Central is watching this one closely and will post follow-ups as information becomes available. It’s unfortunate that this find took place at an auction that was not being filmed for their television show.

For now, join the discussion on our storage auction forum.