[Archive]

Posted By: Frank Wakefield

Ah.... Insurance.

Do get slabbed cards insured. Get the cards scheduled, and be sure and list the grader's # for the individual cards.

One day, someone, maybe the government, will wonder what happened to the cards you insured. You had to have had them, you would not have perpetrated a fraud on an insurance company insuring something you don't have. If the insured cards are in your estate, then they may well be subject to inheritance taxes. And if the cards are no longer in your estate, you must have sold them. So when they look at past tax returns will they see that ordinary income from the sale of the cards?

Oh yes. By all means insure them.

Frank.