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$7 million in gold found in dead man's home

VikingDudeVikingDude Posts: 1,586 ✭✭✭
in Precious Metals
I bet the cousin was surprised.

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I wonder how much that house was torn apart?

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    mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    And looks whose waiting for a cut

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

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    OPAOPA Posts: 17,162 ✭✭✭✭✭


    << <i>And looks whose waiting for a cut >>



    Uncle Samaszko dead? How come I wasn't notified?image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    DrBusterDrBuster Posts: 5,444 ✭✭✭✭✭
    Further reason to leave a will that says "cousin Dale gets this lockbox, key, and treasure map".
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    LukeMarshallLukeMarshall Posts: 2,201 ✭✭✭✭✭
    So is it correct to assume that by willing the gold to a family member that it incurs taxes?

    I don't think it should be taxed until the cousin decides to sell...

    It's all about what the people want...

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    OPAOPA Posts: 17,162 ✭✭✭✭✭


    << <i>So is it correct to assume that by willing the gold to a family member that it incurs taxes?

    I don't think it should be taxed until the cousin decides to sell... >>



    I guess you never heard of Estate Taxes?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    DrBusterDrBuster Posts: 5,444 ✭✭✭✭✭
    What's the exemption on estate taxes? Isn't it 10 mil, or is it 5 when they kick in??

    found it - 5mil and then it drops to a mil exempt next year before uncle scam gets his cut.
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    LukeMarshallLukeMarshall Posts: 2,201 ✭✭✭✭✭
    Ah, thank you OPA.

    It's all about what the people want...

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    mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>So is it correct to assume that by willing the gold to a family member that it incurs taxes?

    I don't think it should be taxed until the cousin decides to sell... >>



    It doesn't matter what we think or want or what's right or what makes sense or any of those things that "we" think. All that matters is what "they" want.

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

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    SpoolySpooly Posts: 2,108 ✭✭✭
    My first thought was about derryb....... (evil grin) .... but he does live in Nevada! image
    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
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    OPAOPA Posts: 17,162 ✭✭✭✭✭


    << <i>My first thought was about derryb....... (evil grin) .... but he does live in Nevada! image >>



    but his pile is in Paper & not the physical stuffimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    johnny9434johnny9434 Posts: 33,047 ✭✭✭✭✭
    lets see how much of that the irs is going to take .
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    guitarwesguitarwes Posts: 9,308 ✭✭✭
    Uncle Sam is finally going to get Uncle Samaszko.

    a little ironic.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
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    OperationButterOperationButter Posts: 1,672 ✭✭✭
    all went to a distant cousin....

    hey atleast the fed and state didnt get it all
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
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    derrybderryb Posts: 38,584 ✭✭✭✭✭
    The Miser's Tragedy

    "This question — what is to be done about this lust of the IRS to get its hands on a share of people’s gold and silver that doesn’t lose its value when government issued money does lose its value — turns out to be a hot one. Utah’s junior senator, Michael Lee, has, along with Senators DeMint and Paul, introduced legislation in the Congress in Washington to remove federal taxes on the failure of gold and silver coin to lose their value."

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

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    derrybderryb Posts: 38,584 ✭✭✭✭✭


    << <i>

    << <i>My first thought was about derryb....... (evil grin) .... but he does live in Nevada! image >>



    but his pile is in Paper & not the physical stuffimage >>


    Not so. Two piles works better than one, each has its purpose. Best to hedge one's bet. image
    Live in Florida where there is no sales tax on coins.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

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    mariner67mariner67 Posts: 2,746 ✭✭✭
    Turns out the distant cousin lives in a nearby town.
    The local paper said they did contact her a few days ago but now her phone as been disconnected.
    Good idea!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
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