Man buys Iraqi tank, came with accessories

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Man buys Iraqi tank, came with accessories

Post  slimpickens on Wed Apr 12, 2017 3:13 pm



https://youtu.be/km5k60PR1dU

The folks at U.K.-based tank restoration company Tanks-A-Lot have one of the coolest vehicle-related jobs we've come across yet. These guys restore tanks and drive them (in addition to supplying tanks for films, events, and even hosting driving events). But while the employees may not find any novelty in driving tanks anymore, they were likely surprised by what they discovered in a recent acquistion: more than $2 million in gold.

Nick Mead, owner of Tanks-A-Lot and avid heavy vehicle collector, decided to purchase the $37,000 Chinese Type 69 tank after coming across it on eBay. This particular piece was modeled after the Russian T-54, which were sold in the nine year span from 1959-1968. During the Gulf War, Chinese manufacturers produced the tank in bulk and sold many to the Iraqi military during that time. He eventually bartered a retired British Army truck and Abbot self-propelled howitzer to the seller and brought his new piece home.

While disassembling the vehicle for restoration, mechanic Todd Chamberlain alerted Mead that he believed that one of the fuel tanks were filled with guns—a surprisingly-common occurrence when going through old military machinery. Per shop protocol, Mead grabbed a camera to ensure that they were safely covered should they recover any illegal firearms that they would be required to turn over to the police. Instead what the pair found were five gold bars weighing in at a whopping 68.5 pounds, are valued at around $2.4 million, according to The Sun.


I found 95 cents under the back seat of my 67 Cortina  Rolling Eyes

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Re: Man buys Iraqi tank, came with accessories

Post  someday on Wed Apr 12, 2017 5:11 pm

I wonder if they contacted the Ebay seller? lol!
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Re: Man buys Iraqi tank, came with accessories

Post  davsgold on Wed Apr 12, 2017 5:52 pm

Nice find, not really where you would expect to find gold.

Not sure how they come with the $ value of over 2 mill but hey it might be the historical value that they have taken into account. Laughing

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Re: Man buys Iraqi tank, came with accessories

Post  Wombat on Wed Apr 12, 2017 8:13 pm

Dave that could be English Pounds

Right at the moment it would be worth $1,864,493.28 Aussie Dollars. Right now gold is at $1,701.18 an oz Australian.
68.5 lb x 16 = 1096 oz x $1,701-18 AD =$1,864,493.28 AD
wombat Wink


Last edited by Wombat on Wed Apr 12, 2017 8:56 pm; edited 2 times in total
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Re: Man buys Iraqi tank, came with accessories

Post  davsgold on Wed Apr 12, 2017 8:31 pm

Wombat wrote:Dave that could be English Pounds
wombat Wink

I don't think so, this is a link to the British article https://www.thesun.co.uk/news/3291710/tank-collector-two-million-gold-bullion-military-vehicle/

"Tank collector shocked to find £2million gold bullion hidden in the fuel compartment of his £30,000 vehicle"

2 Mill in English pounds would convert to over 3.3mill in Aussie dollars. That's about double the spot price for refined gold bars, so I reckon they must be giving the find a good boost up for the historical value reasons. Laughing

It's an awesome good find wharever the value. Very Happy

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Re: Man buys Iraqi tank, came with accessories

Post  Minermike on Wed Apr 12, 2017 9:00 pm

If you believe a newspaper report , you will believe anything.......
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Re: Man buys Iraqi tank, came with accessories

Post  Wombat on Wed Apr 12, 2017 9:11 pm

Minermike wrote:If you believe   a newspaper report ,  you will believe anything.......

Mike there is a youtube link just under the photo it runs for about 8 min.
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Re: Man buys Iraqi tank, came with accessories

Post  rockhunter62 on Thu Apr 13, 2017 12:58 am

Hey Wombat,

You used normal ounces instead of troy ounces. 68.5 lb is 998.957 troy ounces which will put the value at your current gold price to $1,699,406 AU. Wink

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Re: Man buys Iraqi tank, came with accessories

Post  Wombat on Thu Apr 13, 2017 7:16 am

rockhunter62 wrote:Hey Wombat,

  You used normal ounces instead of troy ounces. 68.5 lb is 998.957 troy ounces which will put the value at your current gold price to $1,699,406 AU. Wink

Cheers

Doug
Hi Doug Yer mate I know but that was the only conversion chart I could find on the net. But it should give you some idea. Oh well it's till a lot of money on a return for a $30,000 tank.
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Re: Man buys Iraqi tank, came with accessories

Post  rockhunter62 on Thu Apr 13, 2017 8:40 am

Yeh Wombat, with that much gold you can buy a lot more tanks. Very Happy But I think I'd have the gold.

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Re: Man buys Iraqi tank, came with accessories

Post  Nightjar on Thu Apr 13, 2017 9:18 am

Wombat wrote:Dave that could be English Pounds

68.5 lb x 16 = 1096 oz x $1,701-18 AD =$1,864,493.28 AD
wombat Wink

To complicate matters more, gold is usually measured in Troy ounces. 12 Troy Ounces = 1 lb.
Does anyone think the way he is holding one bar it appears to be lighter than the approx 6kg each bar would weigh?


Last edited by Nightjar on Thu Apr 13, 2017 9:24 am; edited 1 time in total (Reason for editing : added)
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Re: Man buys Iraqi tank, came with accessories

Post  davsgold on Thu Apr 13, 2017 9:29 am

Hey Nightjar they don't look all nice and shiny and stamped 9999 like the Perth mint would do on there refined bars. Laughing

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Re: Man buys Iraqi tank, came with accessories

Post  Nightjar on Thu Apr 13, 2017 10:08 am

Haaaahaa! Dave,
Or like the shiny bars you pour? T06
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Re: Man buys Iraqi tank, came with accessories

Post  Minermike on Thu Apr 13, 2017 1:32 pm

Maybe the gold came from that place not far away from Iraq . They were chopping the gold nuggets up with an axe .
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