Quote:
Originally Posted by jhs5120
If we want to get technical, the couple owes the taxes regardless of whether they sell the coins or not. If the coins are valued at $10 million, the couple will still need to pay taxes based on those earnings. Just as if I found 6 Wagners, I would owe the government around $2 million come tax day so I would be forced to sell at least two of them immediately to pay what is owed.
If we're strictly talking about the selling strategy I have no opinion (I do not know the coin market).
I will however, compare this to the Black Swamp Find. The family went to the media, it was a great story and created a lot of buzz in the card community. All-in-all, I think it helped their sales a bit.
I would imagine these coins will reach record prices (I don't know why they are using amazon as their venue though).
|
well, technically they didn't have to pay taxes on it when it was in the ground on their land. now they have to pay taxes on it since it was removed from their land?
what happens if put it back in the ground where it was? if you pulled an antique arrow head out of the ground and never sold it, you would have to pay taxes on it? I don't really think so if it came from the land that you already bought and paid taxes on.
kevin