How would you get rid of alot of gold and not draw atention to yourself?

[konnon6]

I had a friend that found alot of gold. But didn't want to tell the location of were he found it( fedarel land or private private property that he didn't have permit for) but needed cash.How would you get rid of the gold? The gold is in bars. 500 pounds or more.remember it takes a
picture ID to sell an once or more of Gold.And you don't want to attract attention to yourself.
you could be robbed or killed or the feds might want some taxes.Not to mention they might want to know were you found it.

 

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[SHERMANVILLE ILLINOIS]

Get rid of a lot of gold?

Put it in a Salvation Army bucket

have a good un..................................

 

[warsawdaddy]

What form is it in,nuggets,bar,coinage? What kind of weight are you talking?

 

[diggummup]

What form is it in,nuggets,bar,coinage? What kind of weight are you talking?

Thats what i'm asking too.This would help to answer your question.Many variables.

 

[konnon6]

ok the gold is at least 500lbs in gold bars and could be more.
now remember any sale over 3 onces requires an address and photo ID
And you don't want to attract atention because! you might get killed-robbed- the feds might want some taxs-and you might have to tell where you found it.

 

[SHERMANVILLE ILLINOIS]

How would you get rid of alot of gold?

Post it on the internet that you have, "500lbs in gold bars"
Let the entire world know :P

have a good un.....................

 

[TreasureTales]

Give it to me and I'll dispose of it for him. I'll only take 25% of the money as a service fee. The other 75% is his.

Seriously, without getting into any details, can we hear the story or at least how he found it or maybe how he heard about it? And how about a couple of photos so we know we're not being played for fools? We all enjoy a good treasure story. Please!!! What part of the country?

 

[warsawdaddy]

Are the bars stamped or marked?

 

[Monty]

You are up the creek no matter how you try to dispose of it illegally. I say illegally because the laws are written to make disposal of a large amount without reporting it a felony. Ok, so you find a buyer and sell it on the black market. This way you will probably wind up penniless, in prison, or dead. Anyone who is willing to buy 500 lbs of gold on the black market certainly wouldn't hesitate to steal it or do you in for it. If not, they could blackmail you with threats of prison if you didn't pay them off. You might melt it down into smaller ingots and sell it a little at a time on ebay or one of the other internet auctions, or perhaps sell it in small bits to a dentist or dental lab and jewelers. Sooner or later this would draw attention and the feds would come knocking along with IRS. Or,definately not the bigget return but you could do it legally and declare it and then go through the courts defending it from insurance companies and fraudulant claims. Any way you cut it, treasure hunting is the quest, treasure finding may be the curse. First off lawyers would eat up over half of any profit, then IRS would get their cut and then on and on until there won't be but a small percentage that you would ever see and then probably not for several years. Sigh...there's really not a way to get around it unfortunately. Monty

 

[treasurejack]

I guess the question is this; Is your friend willing to risk the rest of his life for the gold he found? Either way, robbed or caught by the feds, that's exactly what he'll be risking, if he hasn't already?

 

[cryptodave]

500 pounds or more of gold bars more than likely has some historical issues too.

Sounds to me the biggest concern is the "federal land or private private property that he didn't have permit for" part.

 

[Pulltab Parson]

First and foremost, he needs to zip the lip!!!!!

Then, the only way that he could get rid of it (in my opinion) would be in small amounts over a long period of time. You know though, he could cover his story by buying a claim in CA, or NV and spend some time panning to give the appearance of the claim producing, then he would be able to get more out (granted he would have to paly taxes on what he melted. . . er . . .uh. . .panned

 

[Jeffro]

In a hypothetical situation such as this.....


Transactions under $2000 aren't required by law to have a record kept. Vegas doesn't even record payouts under $2000. So, make a list of buyers in however large an area you want to run. Sell a couple ounces at each, once a month. Make a six month trip all over the US even. Never carry enough on your person or car to get you killed.

Keep in mind that to sell it legally, you will take quite a hit from the IRS.

Also keep in mind the chances are slim to dispose of it illegally and get away with it, and then you will take an even bigger hit....

 

[warsawdaddy]

500lb of gold bars is not a whole lot of bars.Remember a cube 14.2" on each side weighs 1 ton!

 

[geo4472]

your talking about $5,360,000 worth of gold if the government monitors sites like this you'll proablly be getting your answer sooner than you think..... ..lol .i'd like to it least have a clue as to what area it was found in

 

[cactusjumper]

Buy private land. Bury the gold.....dig it up.....Look what I found!!!! Sell it legally and take whatever hit the Government wants to deliver. Otherwise, pack your stuff for a visit to the graybar hotel. Sounds like it's more than enough to make everyone happy for a long time.

Nothing is worth a stay in a Federal Penitentiary.

cj

 

[Montauk3]

Is someone jerking someone else around? 500 pounds? Give me a break!

 

[Jeffro]

This thread is almost a year old-

 

[cptbil]

If you are serious
I have a "Buyer" who pays in US Dollars, So. African Gold Dollars or "wire Transfers", etc..
He has been in "Business" for 30+ yrs!
All "Business" is strictly confidental!
He has handled business transactions that are, in the MILLIONS!

 

[cptbil]

Hmmm!
No Reply!
I guess that he either sold it
OR!
Uncle Sam has gotten it all!