Collector handed the bars to the police and was left without reward; metal was reportedly looted from Kuwait by Iraqi soldiers in 1990
British collector Nick Mead, owner of the company specializing in military vehicles Tanks-a-Lot, starred in one of the most lucrative — and frustrating — discoveries in the antiques market. While restoring a Type 69 tank, China’s version of the Soviet T-54, bought on eBay for about 35,000 euros (R$203,000), Mead found five gold bars hidden in the fuel tank. The treasure, valued at $2.5 million, was eventually confiscated by British authorities.
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The armored vehicle in question belonged to the Iraqi army and was captured by British troops during the Gulf War (1990-1991). The main hypothesis is that the gold was looted from the Central Bank of Kuwait during the Iraqi invasion and hidden in the fuel tank for clandestine transport. The previous salesman, Joe Hewes, even performed mechanical repairs on the vehicle, but never inspected the internal reservoir.
When they came across the solid metal during disassembly, Mead and his mechanic decided to film the discovery and, soon after, contacted Northamptonshire police. The caution was legally motivated: the fear that trying to trade gold without origin could result in criminal charges of receiving or laundering money.
Despite the collaboration, the outcome was unfavorable to the collector. The bars were seized for investigation and held in custody by authorities for eventual return to the Kuwaiti government. Without receiving any kind of compensation or percentage of the amount found, Nick Mead expressed public regret for the way he handled the case, saying he felt “naïve”.
Although he lost the millions, Mead keeps the Type 69 in his fleet of more than 150 vehicles in Helmdon, England. The tank, now famous for the episode, remains the most valuable — and financially bitter — piece of history in his collection.
