Quote:
Originally Posted by barrysloate
Jason- not suggesting one should avoid paying taxes, but simply sell a little at a time not to raise eyebrows. Imagine if you bought an original shoebox of T206's and there were six Wagners in it. You wouldn't sell all six on the first day. You would devise a better strategy, and sell them off over time. That's all. And you wouldn't run to the media and ask them to do a story about your find. You would recognize it's better to keep it private. No big deal either way, but that's how I would do it.
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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).