IRS to "STEAL" almost 1/2 of 10 million dollar gold coin found on couples own land!

Why not just go bury it in the yard again? It's status will then be nobody's business...on private property, right? (wink)

I don't understand why they said anything at all. You could sell those coins slowly all across the US in gold exchanges, pawn shops, etc.......what ever they might lose in the "deal" they get wouldn't come close to what the govt will rob them of anyway. Plus they will have zero anonymity. People will find out who they are. Good fortune wasted, what a shame.

reply to post by wulff



Tax, I think they call it

Screw the IRS whenever possible.. They Take your income taxes every year by bully tactics
By way of a "Voluntary" contract imposed on the Taxpayer..

These people were idiots and should have sold it on the underground market.

reply to post by wulff


"... government of the people, by the people, for the people, shall not perish from the earth ..." ..... actually certain activities of the government, like making out like bandits, need to perish... as I'm sure that insane taxation would not have been on Lincoln's mind when he said "by the people"....

reply to post by TheAnarchist

What "happens all the time" is the purchase of property...lets use Michigan as just one example...where you can buy property for say a cottage or vacation property...and never own the mineral rights to the land below your home. Happens all the time, and really quite normal.

We have folks living along, around and in National and/or State Forests areas that own their property, but the Gov own rights below ground.

reply to post by DistantThunder


Good idea as any other....like I said: I'd waited awhile and thought long and hard about running to the authorities with the discovery.

reply to post by ElectricUniverse


Okay, here's a scenario.

You own a house, and you rent it out to some tenants...


Those tenants pull up the floors and find a million dollars in cash stashed under the floor boards.

Does that money belong to the tenants, or you the owner of the home. Neither party knew it was there before you purchased the house, or they decided to rent the house. They found it while renting the home from you the owner.

Who's is it? The finder, or you the owner of that home?

generik

personally i think if you "found" something like this, it is only fair that you do pay some tax on it, but more like 20%

Can you explain why being taxed on everything, specifically this coin find, is fair?

I'm guessing you also think being taxed on lottery winnings is fair too, correct?

reply to post by EmpathicBandit


That was the actual face value of the coins but the gold is worth more today and the antique coins have a higher value than even the weight of the gold.

Looks like the government is taking it all back...no gold for you!

$10M Gold Coin Hoard Found in Yard May Have Been Stolen From Mint

Hijinx
Okay, here's a scenario.

You own a house, and you rent it out to some tenants...


Those tenants pull up the floors and find a million dollars in cash stashed under the floor boards.

Does that money belong to the tenants, or you the owner of the home. Neither party knew it was there before you purchased the house, or they decided to rent the house. They found it while renting the home from you the owner.

Who's is it? The finder, or you the owner of that home?

I don't get what you are trying to say. Since when is the IRS, or the government for that matter the owner of private property which has been the property of someone else in the past?...

The IRS, and the government are not going to give that 47% of that money to ANY surviving relatives of previous owners...