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Coinbase will issue BCH. You would receive an amount of bitcoin cash equal to the bitcoin you held in your Coinbase account at the time of the fork.
BitcoinCash can be withdrawn on Jan 1st. At the time of writing BCH is $572.00

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I have some Bitcoin Cash stuck at Coinbase too. It's not free money. I look at it in the same way as a stock split or stock dividend. It belongs to customers holding bitcoins at Coinbase on August 1st in the same way stock you may have in a brokerage account.

There's also an issue of what Bitcoin Cash may be worth when Coinbase finally distributes it. It could be $600 or $6. I can't predict the future.

If you were smart and  had kept bitcoins safe in your own wallet instead of trusting hackable exchanges, you would be able to sell it off today, instead of waiting several months for Coinbase, hoping BCH doesn't become worthless, or they get compromised.


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