Cost basis when splitting up sets?

drfish

So what is the legally acceptable method for determining individual coin cost basis on sets like the 2011 25th ASE set? Mint cost,postage ,plus grading cost divided by 5? This would undervalue keys and 70's. I would guess on a set like the 08W Buffalos you could base the cost as a percentage of set weight, so the one ounce coin is worth 54% of the set cost? This method would greatly undervalue the $10 coins and once again 70's. I can't really think of a fair way to value coins in a set, but probably all that matters is what the IRS accepts.

illini420

Don't forget to allocate some of your cost basis to the big wooden box

drfish

Remember when the 08w unc $50 buffalo OGP were selling for $400 on eBay?Crazy