Legal Question About Find

[Tpmetal]

They are yours legally, full stop. The only person you have to tell is the value to the IRS so they can tax you on it, which you may want to talk to tax service and see when you have to report it and how. Such as before or after you sell them, can't remember where and how the tax man steps in off the top of my head.

 

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[SeabeeRon]

They are yours legally, full stop. The only person you have to tell is the value to the IRS so they can tax you on it, which you may want to talk to tax service and see when you have to report it and how. Such as before or after you sell them, can't remember where and how the tax man steps in off the top of my head.

Great advise! I would really like to know a bit more about these coins without the OP giving too much info away.

 

[Tpmetal]

Great advise! I would really like to know a bit more about these coins without the OP giving too much info away.

My love of old coins has me wondering as well. Silver? gold? eagles? Seated? bust? spanish?

 

[unclemac]

why does anyone need to even know?

 

[Tpmetal]

why does anyone need to even know?

well if you are fine with the repercussions if ever audited or found out through many other means(many that pop up with the selling of coins this expensive)....then I guess no one has to know. But I guarantee you lose more than you gained by not reporting the income to the IRS if found out. They are hungry for money right now as well......sooo people can do what they please. I would suggest with large finds that are worth thousands of dollars(as claimed) that you just report it and take the tax hit on it, then walk away with the free money knowing you will not looking over your shoulder for years.

 

[FreeBirdTim]

If you read the article this is about a contractor trying to keep coins they found on someone else's property, so its completely irrelevant to this situation. If you buy a property and find anything of value on it, the previous owners have no legal standing to claim it. OP needs to understand these coins are his, the only person with any claim would be the tax man.

Wrong. The article is a little confusing, but in the end, the homeowner got nothing. Read it again.

 

[Peyton Manning]

Send them to me and I’ll look into it for you, free!

 

[Tpmetal]

Wrong. The article is a little confusing, but in the end, the homeowner got nothing. Read it again.

the article still does not apply here because there is no claim by the original owner of the coins(or as in the article the owners children). These coins belong to the current owner of the house in this case. If you bothered to look up the laws it specifically designates this need for a claim of ownership. With out this claim OP is in the clear and can claim and sell the coins. His only worry is to make sure to pay those taxes on it.

 

[Treasure_Hunter]

Posts deleted

Please remember our rules on politics.

 

[davest]

there are two people this concerns. You and You.

I'm waiting to see a pic of the coins, even one or two, or this was a waste of bandwidth

 

[FreeBirdTim]

the article still does not apply here because there is no claim by the original owner of the coins(or as in the article the owners children). These coins belong to the current owner of the house in this case. If you bothered to look up the laws it specifically designates this need for a claim of ownership. With out this claim OP is in the clear and can claim and sell the coins. His only worry is to make sure to pay those taxes on it.

My point was if this person makes this find public, the previous owners can make a claim to it, if they get wind of it.

 

[Blak bart]

SSSHHHHHHHHHHH !! Very smartly we have herd nothing more from the OP !! @IZMIZ read all the replies, only lurk and surf the posts. My advice is say no more, and absolutely don't post pics of anything that someone might get jealous about if recognized.....why even give someone a reason to hire an attorney and come after you.....sell your coins if you please....im sure you will remember that those coins were given to you by your grand pop 😉 right !!✔️

 

[Peyton Manning]

If one buys a property, I don’t see how you don’t own everything at closing

 

[FreeBirdTim]

If one buys a property, I don’t see how you don’t own everything at closing

Yup, it doesn't seem fair.

 

[dieselfool]

Many years back I recall a member who made a huge find such as this one and just vanished into thin air. It seems like it was gold bullion that he found. Only much later did he pop back in and give an update that he had slowly liquidated his find and retired. He was no longer living in the US, if I remember right. There should be a way of looking through past topics to check but I believe he did it all on his own with no lawyers, police, IRS or even friends and relatives involved. But his find was in seven figures.

 

[boogeyman]

why does anyone need to even know?

As I've said many times over the yea

My point was if this person makes this find public, the previous owners can make a claim to it, if they get win

Many years back I recall a member who made a huge find such as this one and just vanished into thin air. It seems like it was gold bullion that he found. Only much later did he pop back in and give an update that he had slowly liquidated his find and retired. He was no longer living in the US, if I remember right. There should be a way of looking through past topics to check but I believe he did it all on his own with no lawyers, police, IRS or even friends and relatives involved. But his find was in seven figures.

I've said it over the years many times here. My words to live by.

Dig it up,
Put it up,
SHUT UP!
Out of a hundred or so stories you'll only find a couple where the finder ended up with anything. One couple found a cache of gold coins, and after the dust cleared & everyone took a share the IRS came knocking to claim a share of the one coin the family so graciously gave the couple😅. I don't recall if the coin even covered their legal fees. There's another later similar story, same outcome.

DIG IT UP
PUT IT UP
SHUT UP!

 

[FritoBandido]

Age range of coins? Material they are made of? Anything?

If I found a stash like that no one would know but me. Damn sure wouldn't broadcast it all over the internet.

 

[boogeyman]

If I found a stash like that no one would know but me. Damn sure wouldn't broadcast it all over the internet.

And sure as heck wouldn't tell the wife (worse than the IRS!)

 

[BennyV]

If I found a stash like that no one would know but me. Damn sure wouldn't broadcast it all over the internet.

Just asking sport.

 

[IZMIZ]

Hey guys all the information is super valuable.
I will share some pictures of items I dont think anyone can claim theirs and I will keep you guys posted.