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Gold Bullion Question

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 Posted 03/24/2013  03:35 am Show Profile   Bookmark this topic Add xAGENTxMULDERx to your friends list Get a Link to this Message Number of Subscribers
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?
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basebal21's Avatar
13014 Posts
 Posted 03/24/2013  04:16 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
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.
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denco7's Avatar
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2543 Posts
 Posted 03/24/2013  09:15 am  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
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.
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United States
339 Posts
 Posted 03/24/2013  9:36 pm  Show Profile   Bookmark this reply Add xAGENTxMULDERx to your friends list Get a Link to this Reply
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
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denco7's Avatar
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 Posted 03/25/2013  3:09 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
I don't know about anyone else, but I think that I would take the GOLD.
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basebal21's Avatar
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 Posted 03/25/2013  3:30 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
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?
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United States
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 Posted 03/25/2013  11:31 pm  Show Profile   Bookmark this reply Add xAGENTxMULDERx to your friends list Get a Link to this Reply
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
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 Posted 03/30/2013  1:22 pm  Show Profile   Bookmark this reply Add lincsus to your friends list Get a Link to this Reply
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?
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