Get updates delivered to you daily. Free and customizable.
New York Post
NYC treasure hunters who hauled in $100K while ‘magnet fishing’ need to wait 9 months to enjoy their riches — here’s why
By Katherine Donlevy,
11 days ago
The couple who caught a safe crammed with $100,000 while magnet fishing in a Queens lake may have hit the mother lode — but they won’t be able to tap into their newfound fortune until next year.
James Kane and Barbie Agostini last Friday lugged their muddy and waterlogged riches to the Treasury Department in DC, where an 11-person team will spend up to nine months rifling through the soggy cash and replacing it with new bills.
When they finish, Kane and Agostini will be handed the fresh pile of cash, tax-free.
James Kane and Barbie Agostini will have to wait up to 9 months for employees at the Treasury Department to sift through their damaged and destroyed treasure. NY 1
The Treasury Department has a team at its Bureau of Engraving and Printing dedicated to the odd — but not unusual — predicament Kane and Agostini found themselves in.
Typically, the crew deals with remnants of money — sometimes reduced to literal dust — that family members find buried in their backyards.
That makes Kane’s decaying cash seem like a much easier task, especially since the lucky fisherman estimates that only about 40% of the roughly $100,000 he found has survived its two weeks on dry land.
It also made him regret leaving wads of what he thought were irreparably destroyed bills lying in the park, he told the newspaper.
Kane and Agostini were magnet fishing in a Corona Park lake when they pulled in the safe on May 31. NY 1 Kane estimates that only about 40% of the roughly $100,000 he found has survived its two weeks on dry land. NY 1
The couple sought out the government’s help after their story went viral and long-lost friends and near-strangers came out of the woodwork to get their hands on their find.
“All the immediate attention we’re receiving from this money is driving us a little crazy and we’re a little afraid,” Kane wrote in an email to the Treasury Department.
“We don’t have a lot of money so we’re going to be using whatever we have for a bus to get down there,” he continued, adding that his plight was time-sensitive because the money was turning brittle and starting to disintegrate.
The pair, who film their adventures for YouTube, have found plenty of safes before, but most were empty. NY 1
Get updates delivered to you daily. Free and customizable.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.
Comments / 0