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<p>[QUOTE=&quot;calcol, post: 24863489, member: 77639&quot;]If his dad is not planning on paying gift tax, he needs to be very careful who he asks to be a witness … someone who is a good friend but not likely to be an heir of his dad and won’t care whether the tax is paid.&nbsp; Preferably the witness should be ignorant about gift tax … lots of folks are.&nbsp; The notary should be one who does not know him or his dad.&nbsp;&nbsp; And he and his dad should say as little to the notary as possible.&nbsp; In a “no tax” situation, the fewer who know about the transaction, the better.&nbsp; In this situation, the quality of ownership evidence needs to be balanced against an unpleasant interaction with the IRS.&nbsp; Of course, the letter itself would be evidence for the IRS as well as evidence for fending off claims of others to the coins.&nbsp; So, the whole tax, letter, notary, witness thing needs careful thought.&nbsp; If his dad were to meter-out the coins over several years, keeping each year’s value below the tax limit, then gift tax is irrelevant.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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