What would you do?? Coins or $150,000

[N.J.THer]

The Gold Hound crew just brought up 22 gold coins that are estimated to be worth $150,000.

If you were detecting a beach in Anywhere, USA and discovered this group of coins what would you do with it. Assuming it was 100% yours to do what you wanted.

I would love to keep them all but I would most likely sell 21 of them and keep the best one for myself. To this point I have never sold a find but that kind of money would make a big difference to my family. Add to the college funds for my 1 and 7 year old, pay off a few bills and finish my basement.

That would be nice...so what would you do?
NJ

 

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[waterfalljay]

I'd have to try to keep at least half of them!
$75K will mature into a nice college fund with kids that young.
Maybe skip the basement work...

 

[jeff of pa]

just like a $20.00 bill is just a piece of Paper
till you spend it.

Whether that number is $100 or $100,000
A bank account is just a number till you spend it,

A bunch of gold coins are just a bunch
of cool looking Pieces of gold, you can show
off & say AhhhH ! oooooH ! at
till you sell & start spending.

I'd sell

 

[Frank1960]

I'd take pics of them with me in the pics then sell them for the $150,000 and smile as I bought a new detector then paid off some bills

 

[truckinbutch]

I'd keep the 1 to admire and let the kids fight over it when I'm gone . Did my duty by fixing them
to the best of my ability with the rest of the find .

 

[cdltpx]

Seek the advice of an attorney to keep the governments hands off of my coins. If I had to I would send or take them to a country where I could liquadate them as finds in that country then seek a way to get the money into my name where I could invest it and take it back into the country with in legal limits.

 

[Nate in Ga]

I only wish I lived a life that could allow me to have any one thing barring a house with that kind of value, I simply couldnt afford to keep them.

 

[cdltpx]

I only wish I lived a life that could allow me to have any one thing barring a house with that kind of value, I simply couldn't afford to keep them.

Problem is taxes would eat your ass up great if you could get 150K for your coins and actually spend it where you needed to spend it. But you have to first fight all the creeps that want to say it was that states coins. Where was the state when you were learning your hobby for years and years all the digging getting home past dark bug bites all over clothes dirty cut hands skin dried out detector rained on batteries all those hours you were not compensated for all of a sudden you have a decent find that might pay you $2 an hour when you add up all the hours invested the fuel invested the time spent in libraries archives the level of skill needed to locate those coins. All they see is greed this is why people fail to achieve anymore there are too many creeps at the top playing wack a mole everytime someone gets a leg up they wack them in the head sending them back down the hole. So much treasure has probably been found where the finder sat on it till death never telling anyone until they were about to die then tell their children. Sorry but when someone locates something they should be able to spend it as they will not have to fight loosing a vast quantity on the fight in court to an attorney that probably never has or will ever touch a shovel.

 

[Iron Patch]

Would love to keep them but because of the value I would continue doing things the way I always have. (have for my relics not coins) So for those coins I would keep the best condition of each type (or denomination should that be the case), take some good pictures, and squeeze every last penny I can out of the rest. My button doubles over the years have added up to quite a bit of money and that money did a lot more for me than still having the buttons. It gave me an opportunity I would have otherwise not had, so selling was actually more of an investment because it made me more money.


So having kept a few, and say had 120k, I would take 20k to blow (on stuff or tectin trips), keep access to 20k in a bank or wherever, and pay 80k down on property.

 

[mlayers]

I would keep one of each. Then start selling them one by one. So that way I could keep it all and not worry about the taxes. Then start paying off my bills and then my home. Then I would be debt free.......Matt

 

[karajo]

Keep one sell the rest! Take the money and run!

 

[eagleeye299]

I would keep the best one, and sell the rest one at a time and at diffrent places just to avoid the taxman.

 

[N.J.THer]

I may be wrong, but this sounds kind of like a past find on T-net! A person thats shares info about a cashe in public is in for alot of trouble in their future, and doesn't even know what's comming until it happens... They let the cat out of the bag in public, in exchange for Gloating & Bragging Rights! Plus there may be other info they may have let slip... That will identify them to the criminal element, lawsuits, and The IRS! SAD The "NUMBER ONE" rule if you find a cashe is: "Don't Tell Anyone ANYTHING!"

It is actually a current find on T-Net. Right now it is the second banner find in from the left. It was found by a treasure hunting corporation so it is very public. T-Net is not letting the cat out of the bag and the taxman already knows. I do hear what you are saying and not that I would avoid paying taxes since I'm an upstanding US citizen but I can see why others may want to keep a find like this quiet... .

NJ

 

[spartacus53]

I would cash them in, in a heartbeat and take the money. So what you have to pay taxes on it, there will still be a sweet amount left. The first thing I would do is replace my car, it's a 1983 Rolls Canardley..

Rolls down one hill, can hardly get up the next

 

[Sgtrock]

TAKE care of the KIDS FIRST !!

Then keep one or two..

Use an off shore account etc...if you "Gift" the money the IRS cannot do a thing about it.

Be Well.

 

[spartacus53]

TAKE care of the KIDS FIRST !!

Then keep one or two..

Use an off shore account etc...if you "Gift" the money the IRS cannot do a thing about it.

Be Well.

Keep in mind that "gifting" is a one time deal.. Everything thereafter gets taxed

 

[N.J.THer]

TAKE care of the KIDS FIRST !!

Then keep one or two..

Use an off shore account etc...if you "Gift" the money the IRS cannot do a thing about it.

Be Well.

Keep in mind that "gifting" is a one time deal.. Everything thereafter gets taxed

You can gift $13,000 per person per year and so can your spouse. That adds up pretty quickly. There is a lifetime limit but $150,000 is not even close to it.

 

[airborne1092]

I would keep the best one, and sell the rest one at a time and at diffrent places just to avoid the taxman.

 

[Tuberale]

So the original premise:

"The Gold Hound crew just brought up 22 gold coins that are estimated to be worth $150,000.

If you were detecting a beach in Anywhere, USA and discovered this group of coins what would you do with it. Assuming it was 100% yours to do what you wanted."

Might sell one per year, to keep tax burden low. Don't need a lot of $$ now, but would like to keep at least one coin. Just one problem: gotta find it first!

Others have indicated "Keep your mouth shut!" Good advice. But sometimes (just sometimes) it's also a good idea to leave a can filled with rocks where you found the coins, just to let others know they ALMOST got a big one.<grin>

 

[suprdave]

i only wish i could find just one and i wouldnt have to worry about taxes or anything because i would cherish and keep it forever