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  • Posted by Robbie53024 11 years, 6 months ago in reply to this comment.
    I hope for their sake you're right. I'm guessing that the various taxing authorities are going to demand their cut as soon as possible, and regardless of whether they are sold or not.
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  • Posted by richkinley 11 years, 6 months ago in reply to this comment.
    About the best scenario I can think of is long-term capital gains. What's their cost basis...zero? I don't see how one could apportion these coins to the purchase of the property.

    The taxing authorities will get their cut, but not until the coins are sold.
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  • Posted by Robbie53024 11 years, 6 months ago in reply to this comment.
    Those explanations all stem from a gift or purchase. This doesn't fit those categories. It also doesn't fit a raw materials mined category either as these are coins.
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  • Posted by Robbie53024 11 years, 6 months ago in reply to this comment.
    My guess is that the various governmental revenue agencies will be looking for some way to get their "cut" regardless of whether these are sold or not. Kind of like when you win the lottery or a raffle. Still got to pay the taxes on the value of what was received.
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  • Posted by Robbie53024 11 years, 6 months ago in reply to this comment.
    I wish that it was possible for my yard. Frost is likely down to 5 or 6 feet this year!
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  • Posted by RobertFl 11 years, 6 months ago in reply to this comment.
    I think I would have kept my pie-hole shut that I dug them up.
    1. Possible tax reasons,
    2. some loon trying to sue claiming it was his lost stash
    3. Prevent another load of loons with metal detectors hoping to find more on your property.
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  • Posted by richrobinson 11 years, 6 months ago in reply to this comment.
    I feel like digging up my yard right now. It's a shame they are in California. Combination of state and federal tax will most likely take at least half.
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