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Two French kids reportedly discover gold bars worth over $100,000 during lockdown

tommy44tommy44 Posts: 2,291 ✭✭✭✭✭
edited May 27, 2020 5:02AM in Precious Metals

Popped up on CNBC today on Europe News.

Edited to provide a different link.

https://www.insider.com/french-kids-found-gold-bars-in-lockdown-quarantine-france-2020-5

it's crackers to slip a rozzer the dropsy in snide

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Wow... What a great find....Imagine the thrill of such a discovery. Cheers, RickO

  • MsMorrisineMsMorrisine Posts: 33,239 ✭✭✭✭✭

    tax rate? 100%

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    I can't retrieve it !!! :'(

    Timbuk3
  • taxmadtaxmad Posts: 980 ✭✭✭✭

    @Timbuk3 said:
    I can't retrieve it !!! :'(

    https://www.insider.com/french-kids-found-gold-bars-in-lockdown-quarantine-france-2020-5

  • johnny9434johnny9434 Posts: 28,416 ✭✭✭✭✭

    Something there likely not to forget in a hurry

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Thanks taxmad !!! :)

    Timbuk3
  • SaorAlbaSaorAlba Posts: 7,554 ✭✭✭✭✭

    What I cannot figure out is why the descendants of the old lady that bought them in the 1960's and stuffed them away thought auctioning off something and taking the hit on commission is better than selling them to a refiner. And then there is the tax - so with commission and tax lop off $40K in your return.

    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • tommy44tommy44 Posts: 2,291 ✭✭✭✭✭

    @SaorAlba said:
    What I cannot figure out is why the descendants of the old lady that bought them in the 1960's and stuffed them away thought auctioning off something and taking the hit on commission is better than selling them to a refiner. And then there is the tax - so with commission and tax lop off $40K in your return.

    I agree, and why do people sell grandmas gold jewelry to the "we buy gold" guy at the local hotel when he passes through town a couple of times a year. Everyone isn't as smart as us forum folks.

    it's crackers to slip a rozzer the dropsy in snide

  • SaorAlbaSaorAlba Posts: 7,554 ✭✭✭✭✭

    @tommy44 said:

    @SaorAlba said:
    What I cannot figure out is why the descendants of the old lady that bought them in the 1960's and stuffed them away thought auctioning off something and taking the hit on commission is better than selling them to a refiner. And then there is the tax - so with commission and tax lop off $40K in your return.

    I agree, and why do people sell grandmas gold jewelry to the "we buy gold" guy at the local hotel when he passes through town a couple of times a year. Everyone isn't as smart as us forum folks.

    Tell you what, my grandma raised me and was a sharp tool in the shed and taught me better than to eff up by selling cheap.

    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • CaptHenwayCaptHenway Posts: 32,231 ✭✭✭✭✭

    Right. Commercial kilos worth roughly $55,000 each at melt. Sell them to a refiner and you should get 96-97%. Sell them through an auction house and get what? 70%?

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • SaorAlbaSaorAlba Posts: 7,554 ✭✭✭✭✭

    @CaptHenway said:
    Right. Commercial kilos worth roughly $55,000 each at melt. Sell them to a refiner and you should get 96-97%. Sell them through an auction house and get what? 70%?

    Uh, the French state will take 41% based on the likely outcome of the auction. Sell them to a refiner, you might find one that won't report the purchase/sale to the state - negates pernicious tax letting.

    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
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