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<p>[QUOTE=&quot;mikem2000, post: 1523145, member: 30574&quot;]Just to keep things straight, this is not true.&nbsp; When coins are inherited and the estate is settled.&nbsp; the cost basis for the coins becomes their value, the day they were inherited.&nbsp; You would only need to pay taxes on capital gains going forward.&nbsp; If the coins are sold right away, no taxes would be due.&nbsp; If they are sold sometime in the future, taxes due would only be calculated on the gains realized since the day of inheritance.&nbsp; That would be a whopping 28% BTW.&nbsp; Coins do not benefit from the long term capital gains rate of 15%.</p><p><br /></p><p>So, it is a good idea to get the coins appraised, so you have an established cost basis to work from.</p><p><br /></p><p>Now if the coins were gifted as opposed to inherited. That is a different story.&nbsp; The taxes due would be based on the gains from the original purchase price from the original owner.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>

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