Gold Bullion Question - Coin Community Forum

To participate in the forum you must log in or register.

Author	Replies: 7 / Views: 1,499
xAGENTxMULDERx Valued Member United States 339 Posts	Posted 03/24/2013 03:35 am i dont know if anyone else has seen these scratch off tickets that promise a winning ticket to win 4 million dollars in gold bullion. i thought there was a legal limit to how much gold one person can own? Report this Post to the Staff

basebal21 Bedrock of the Community 13014 Posts	Posted 03/24/2013 04:16 am There used to be but not anymore. I'm not aware of any state laws against it. During the election when they had to release their finances Romney had something like 500k in gold. The big downside to winning a lottery like that in gold will be the taxes. Youll have to sell some off to pay for the taxes and youll take a hit on its value selling it. Report this Post to the Staff
denco7 Pillar of the Community United States 2543 Posts	Posted 03/24/2013 09:15 am What state lottery commission has 4 mil. in gold , and if they do It is time for the state A.G. to investigate. I'm pretty sure there is a cash equivalent prize. Report this Post to the Staff
xAGENTxMULDERx Valued Member United States 339 Posts	Posted 03/24/2013 9:36 pm it did say something else under it, I think it said you can either choose 4 million cash or the gold bullion, but yeah, I cant imagine how much taxes youll pay, close to around 65% I believe on lottery http://i.ytimg.com/vi/Ufh7S4nerls/0.jpg that picture is illinois, I'm in north carolina, so 2 states are doing it as far as I know Edited by xAGENTxMULDERx 03/24/2013 9:40 pm Report this Post to the Staff
denco7 Pillar of the Community United States 2543 Posts	Posted 03/25/2013 3:09 pm I don't know about anyone else, but I think that I would take the GOLD. Report this Post to the Staff
basebal21 Bedrock of the Community 13014 Posts	Posted 03/25/2013 3:30 pm Id take the cash personally. Aside from the fact that its easier to pay the taxes what are you going to do with 2 million in gold? Report this Post to the Staff
xAGENTxMULDERx Valued Member United States 339 Posts	Posted 03/25/2013 11:31 pm take the gold, youre gonna have to come up with the cash from your own pocket to pay the 2 million+ in taxes, id take the cash then buy gold with the cash Report this Post to the Staff
lincsus Valued Member United States 200 Posts	Posted 03/30/2013 1:22 pm Total taxes will be upto 50% (depending on your state). So if you do decide to take gold, you will have to pay $2 million to the taxman. Most people who buy lottery will not have that much money in the first place. Isn't that the whole reason to buy lottery? Report this Post to the Staff
	Replies: 7 / Views: 1,499

To participate in the forum you must log in or register.

All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum

The First Dollar, your premier source for bullion and rare coins. See our bullion list on the site and the coin inventory on ebay.

Silver Gold Bull US is the United States leading bullion dealer. We deliver gold coins, gold bars, silver coins, silver bars and precious metals to your door. Order today!

View Last 100 New Topics

View Last 100 Active Topics

Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us | Advertise Here | Privacy Policy / Terms of Use

Coin Community Forum

It took 0.23 seconds to rattle this change.