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<p>[QUOTE=&quot;SwendiCoin, post: 603663, member: 18768&quot;]My wife and I inherited coins worth about $50K when her father died last year.&nbsp; Some things I&#039;ve learned - (1) Federal estate taxes will depend on the overall value of the estate, not just the coins.&nbsp; And it also depends in which year the death occurred.&nbsp; Last year, the estate tax deduction was $2 million, so anything under that was not taxed. (2) The basis of the coins is their value on the date of death (or 6 months later if the alternate valuation date is used).&nbsp; So an appraisal is invaluable for setting the basis.</p><p>This setting of basis should be independent of whether or not estate taxes were owed. (3) If there was an executor of the estate, you should be discussing this with them.</p><p>&nbsp;</p><p>But as everyone else has said, you need to consult your own CPA.[/QUOTE]</p><p><br /></p>

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