What would you do?

[Estevanico]

My friends and I debate... what would you do if you found a hoard of gold bars and artifacts? Would you legally file a claim for the treasure or would you keep it a sercret? Why?

 

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[DEGreen]

If you want to keep IT, KEEP IT SECRET
If you just want 15 minutes of fame and nothing but headaches and no treasure, TELL ANYONE or EVERYONE.
Just my opinion
Darryl

 

[GrayCloud]

Why do you want to know? And your first post at that. Who do you work for?

 

[10claw]

reckon he could be gestapo? something to think about.

 

[Estevanico]

You guys are good! But wouldn't you be in bigger trouble if caught... IRS and all? What's a gestapo?

 

[7creeks]

You guys are good! But wouldn't you be in bigger trouble if caught... IRS and all? What's a gestapo?

google it!!!!!

 

[GrayCloud]

Guess what, this site and others like it are being monitored and infiltrated. That is the reason for my somewhat direct reply. No offense intended.

 

[10claw]

ditto gray cloud.

 

[thrillathahunt]

 

[boogeyman]

In the not so famous words of my grandfather, "It aint that hard to figure out son!". Do the math! Landowners cut, every relative in the lands cut, Lawyers cut, citys cut, countys cut, States cut, different federal agencies cut, IRSs cut = 100% Your cut = -0%. Why -0%? You'll lose a ton of money trying to keep what you find.

"Dig it up & shut up = your cut 100%.

 

[Sheldon J]

So how may of you here have been around long enough to been reading a story either here or in some treasure magazine about some search for some treasure regardless of size.... Only to have the source go silent.... Yeah there is a reason....

 

[boogeyman]

So how may of you here have been around long enough to been reading a story either here or in some treasure magazine about some search for some treasure regardless of size.... Only to have the source go silent.... Yeah there is a reason....

Personal experience? You hit it square on the head Sheldon!

 

[NicktheMainer]

I think treasure hunters get paranoid too easily...

 

[savant365]

I think treasure hunters get paranoid too easily...

That doesn't mean they're not out to get us anyway!

 

[Twisted One]

Gold bars? I would probably keep it a secret just because I don't see why I should be taxed to death on my income, and on top of that most of the government agencies that would tax me on the gold, are the same ones that more or less hinder the hobby, rather than helping it, why do they get a cut?
I think I would probably try and figure out how to sell it off quietly. Under the table to some one looking invest in gold under the table.

Artifacts, depending on what it was, I might report it. Most artifacts in my area are Native American and in my opinion belong with the museums or Native American communities.

 

[peralta]

Of course you are all right.my reason for sharing information is because people some people have looked all their lives and firmly believed that the peralta stones were authentic and those still looking can know that it wasn't. In vain.that it will motivate all of you to keep searching for lost mines.so people will know that buying a medal detector is an outstanding investment.I bought my white two-box many years ago and it's still working fine.if something happens where I get into some kind of trouble I'd rather die with my knowledge than have it all taken from me.good luck and safe hunting.

 

[Mr.Jody]

I wouldnt do anything, not even reply to this thread...

 

[10claw]

i would keep very quiet and if it leaked out some way, then my great grand father left it for me.
if you have never had to deal with a snotty nose archie, then go ahead and spill the beans. afterwards come back and re-read this thread.

 

[Curtis]

I am not a tax expert and following is not advice just discussion ease see a tax expert to verify this.
Two things here…if you keep it and do not declare it on your income taxes…then you may be coming out less than if you paid the taxes! Before you all start yelling at me let me explain..
Let’s say you find an old stash that no one has a real claim on and for augment let’s say it’s worth $100,000. You decide not to declare it as income for the IRS..now you want to sell the coins..When you go to do it the guy buying them is not likely to pay you anything close to what they are worth because he has to make a profit and HE has to pay taxes on the profit. So you will more than likely get 50 percent of what they are worth. So let’s say $50,000. And you will have to hope he doesn’t turn you in or blackmail you later, you are always going to be looking over your shoulder.
If you do declare them (The IRS says treasure Trove Items are taxable and taxes r due in the year you take undisputed possession of the item.)And since you only make $50,000 a year your tax bracket is maybe 25 %, so if you sell them legit and get a really good price of $100,000(not sure of the tax rate/category you fall into then) –maybe even 40 percent) you will still net more than the $50,000 and not be looking over your shoulder., plus be able to deduct all you spent treasure hunting all year (in the new tax deductable truck?)
If I am wrong please tell me where.
I know it stinks having to give art of what you find to the gobernment for them to waste

 

[cooper36]

Of course you are all right.my reason for sharing information is because people some people have looked all their lives and firmly believed that the peralta stones were authentic and those still looking can know that it wasn't. In vain.that it will motivate all of you to keep searching for lost mines.so people will know that buying a medal detector is an outstanding investment.I bought my white two-box many years ago and it's still working fine.if something happens where I get into some kind of trouble I'd rather die with my knowledge than have it all taken from me.good luck and safe hunting.