| Author |
 Replies: 9 / Views: 1,139 |
|
|
Valued Member
United States
150 Posts |
|
|
|
|
Moderator
 United States
188770 Posts |
Wow!  Quote:
Current spot $18.42 x 200oz = ? Morgan Dollars do not weigh an ounce.  |
|
Pillar of the Community
United States
1000 Posts |
Good find! But bad move reporting it. https://www.law.cornell.edu/cfr/text/26/1.61-14 Federal income tax is levied against a "treasure trove" measured in the amount of fair market value. So remember this, everyone: if you find something fantastic, keep your mouth shut! (And remember to send a few coins my way for the free legal advice!)  Edited by Druu
02/24/2017 3:31 pm
|
|
Moderator
United States
188770 Posts |
|
|
Rest in Peace
10197 Posts |
And how might you know JBuck? Personal info maybe? Ever live in AL?  |
|
Pillar of the Community
United States
1000 Posts |
All you have to report are the old railroad spikes and horseshoes! Notify some local historians, donate it to a local museum, and claim a tax write off to boot! Oh, and I wanted to note to ATB that silver dollars only have about 0.77 oz silver. So when you get a chance to purchase at spot per unit, turn it down and send the seller my way!  Edited by Druu
02/24/2017 4:05 pm
|
|
Moderator
United States
188770 Posts |
Quote:
And how might you know JBuck? Personal info maybe? Ever live in AL? I was just speculating. I know nothing. See nothing.  |
|
Pillar of the Community
United States
595 Posts |
Quote:
Federal income tax is levied against a "treasure trove" measured in the amount of fair market value.
Well, I'm not sure that the finder is out too much by publicizing his find. He found $200. Given that these are dollar coins, he could deposit them in the bank at the $200 value. Likewise, he could presumably pay his federal taxes with them. I am sure that the federal government would only take them at a value of $200. Looking at it this way, it would be very difficult for the government to say that $200 is really more than $200  I suppose that I am just  (and, one more smilie because my kid wants to see it in my post, so here it is....  ) |
|
Pillar of the Community
United States
7390 Posts |
Very cool. Its no 1909vdb MPL though but a very cool find! Someone just stashed a couple hundred away for a rainy day and it never got wet. I would have been vamming within an hour!! |
|
Pillar of the Community
United States
1311 Posts |
|
| |
Replies: 9 / Views: 1,139 |
|
Posted 02/24/2017 3:30 pm
