“If you find and keep property that does not belong to you...”
The coins were on their property. They belong to them.
People in their quest for the 15 minutes are morons. I would have sat on these and sold one at a time anonymously or gone as far to melt them down to gold.
Then they could have waited until they had a tax shelter set up to declare that they just now found it.
At least that would have allowed them to do it in their own time.
If I had found it, getting it OUT of California would have been my first thought.
Buying a home in Grand Cayman would be my second thought.
This is when I renounce my citizenship an move to a favorable country before declaring anything. Then I would sell as needed and claim it was a family hand me down. There are way to avoid the IRS, you just have to lay low and keep your liberal ass mouth shut ! Now they will learn about their other Govt friends. lol
About half, huh?
Yeah right. Wishful thinking.
They may lose all of it:
http://www.freerepublic.com/focus/f-chat/3127454/posts
The mysterious haul of gold coins discovered by a Northern California couple while out walking their dog – and valued at $10 million – may well be a previously undiscovered bounty that an employee of the San Francisco Mint was convicted of stealing in 1901.
There is too much IRS tax guiding. I realize such makes a prosperous living for many people but for many others those people are just modern day plunderers.
and gold was really high last year....I hope they did the right thing and lost a couple of dozen pieces...poor things...
IR$ - Internal Revenue for $ocialists. Totalitarians GE$TAPO tentacles ALERT!
If you didn't work for that or earn it you can CONFISCATE someone else's money. Period.
Damn Nixon....screwing us from the grave.
gotcha!
Should have reported only 2-3 million, bought a boat and taken the rest abroad. Retire somewhere.
Reading that language, since it was on their property, they would have a good argument that the value would be the year they purchased the property, not when they discovered it.
What is the cash amount that generates a report to the federal government? $1200 comes to mind.
I know I wouldn’t tell anybody about a find like that. The question is do you sell them or sit on them as a way out when things go to pot.
I’m sorry, did I say $10 M worth of coins? Silly me, I meant $10. How much tax do I owe now?
Look at what the gummint parasites did to Mel Fisher, the guy who discovered the treasure of the “Atocha.”
Just wondering why the government feels that it has the right to confiscate part of peoples’ assets.
I’m assuming these people don’t have $5 million in the bank.
So they’ll have to sell half of the coins just to pay the tax man.
Aint gubmint grand.
You find millions in paperless untraceable gold that no human being on earth knows you own.
STFU!
These people are beyond stupid. Lucky, but stupid.