Myers Depot Metal Detectors

What should you do if???????

Idea :!: Take a bar or 2 and cut/beat it into nuggets, like you would find when hunting gold. Do this every so often as needed and you could become one heck of a gold nugget finder. I would also get a detector especially for gold shooting. You may have to take trips to places you would normally find nuggets. :yes:
pop
 
Prof011067, it is my understanding that in a case like this, you cannot be taxed on a find, no matter how large, until you sell it. You do not have to declare it as taxble income until you sell it, because until you do, you have not realized any income or profit from it. Now, I'm no lawyer, so don't take my word for it. If you find a treasure, you'll be able to afford an accountant, lol! HH!
 
Hey OBG! I have the PERFECT solution! As you can see by my logo, I'm into gold. I agree with the others about keepin' quiet about the gold. (Except.....youCAN tell me!!!! And...I will give you 10$ per ounce as well!!!
Problem solved! As an added bonus, I will even come and collect the stuff myself :lol: Happy hunting.
 
If you find them....and that is a HUGE if...
check the laws in your state. Depending on where you find them the state may lay claim to them. In some states, and probably most if not all, if you find something on state land there is a threshold value and or age limit if you want to keep/sell it. Something like in NY...anything older than 100 years or worth more than 100 dollars is property of the state if it's found on state property (ie state parks, the catskills, the adirondacks etc). Private property is a different story. It's purely between you and the property owner. Second, I'm fairly certain the government probably wouldn't care that you had them. They would probably want some of the bars for their historical value (ie put them in a museum) and then would tax the $h!^ out of you on the sale of the rest. If there are rules and taxes like this I think the best way to maximize your gains would be to find out how much the gold was worth vs how much it's collectible value is, then figure out how much each is going to cost you to unload. Sounds to me like your best bet would be to melt them all down slowly into one once ingots and sell them to a less than reputable gold dealer (asks no questions, asks for no id etc). It's going to be tough though. If that dealer gets audited look out.
 
I think we've all had this dream from time to time. One of the ways I would off load it is to grind it down to powder and take "gold dredging" trips to Alaska, Colorado, California, etc...and sell my "gold dust" to different places. No one will even think twice about it because a) your story is plausible, and b) real gold dust is nearly pure, just like ground down .999 fine gold ;) That's how I'd did, er, do it anyway.
 
I agree Okie we all have had those dreams. Now if I were you I would melt the gold down. Just so happen's I have access to a furnace that will get to 2200 deg. The melting point is 1947 deg. It would be easy to melt. Find it first then we'll talk cash.

Rhubarb
 
There was a post on Treasure Net a few years back where someone had hit on one of the many Japanese gold caches. They decided to do the sensible thing and just take a bar a year, after all the cache had remained undiscovered for fifty odd years. On their return year three they found all the remaining bars had gone. Apart from the loss of a small fortune what really got them was the thought that it was a member of the family who had taken advantage and were watching for anyone to show any sign of unexplained wealth.
Money is the root of all evil....
 
I don't mean to correct you Brian, but it is the LOVE of money that is the root of all evil. That being said, I remember these lines from the Christmas film, "It's a Wonderful Life":
CLARENCE: Oh, no, no. We - we don't use money in Heaven.
GEORGE: Oh, that's right, yeah, I keep forgetting. I see. Comes in pretty
handy down here, bub. :grin:
Daddy-O
 
There's a reason it hasn't been found! But hey, no one ever found anything without looking. I hope you find it!
 
I would try to get in contact with some rich Arab to sell it to and have him deposit the money in an off shore bank account. Then fake your death, move to the islands (or buy one) and have a big yatch to cruise the world on. I hear Rio and the French Reviera is nice!
 
give it to me I'll take care of it for you.............
oldybutgoody said:
Treasurekidd said:
Well, you can bet that wether the gov't has any legal claim to it or not, they'll want it anyway. I would think you would have two choices: Follow the three S's of treasure hunting - Search, sift and shut up, or hope they see fit to give you and the land owner a 10% finders fee. For real advice, I would talk to an attorney. Good luck in your search.
Click to expand...
If I not mistaking I read somwhere that it's not a law that you have to put a stamp on any precious metals.

If I do the shut up part, how would I sell the bullion? If a confederate bar shows up anywhere, there are going to be questions? Would it be possible to melt it down and then sell it? How would I mark the new ingots?
Click to expand...
 
Where I grew up I always heard of the story

No disrespect intended but we have ALL heard the "stories" - Yours may very well have some substance to it but I think you first need to spend some chair time researching the basis of this story and determining what parts of it may or may not be true and trying to come up with some plausible facts by which to search with. I have been doing just this but not for gold but for a long forgotton Indian/cavalry battle that took place not far from where I live (as well as other scenarios). My finds may only be shell casings or spent bullets but I am a relic hunter for items of historical significance. I would certainly listen to any stories of treasure but My searching would be proceeded by much library time (and /or contacting anyone left who might know anything) trying to find out anything I can prior to searching.
 
oldybutgoody said:
Treasurekidd said:
Well, you can bet that wether the gov't has any legal claim to it or not, they'll want it anyway. I would think you would have two choices: Follow the three S's of treasure hunting - Search, sift and shut up, or hope they see fit to give you and the land owner a 10% finders fee. For real advice, I would talk to an attorney. Good luck in your search.
Click to expand...

If I do the shut up part, how would I sell the bullion?  If a confederate bar shows up anywhere, there are going to be questions?  Would it be possible to melt it down and then sell it?  How would I mark the new ingots?
Click to expand...
come to new york city you could sale your in laws if the price is right! :lol:
 
As a final thought though I would like to pass along something I read many years ago: "You don't posses gold - it possess you"
 
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