Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
What would you do if you saw this on a hike?
>
Reply to Thread
Message:
<p>[QUOTE="calcol, post: 8205367, member: 77639"]In the US, I presume if you find coins on your own property that unless someone else has a substantiated prior claim, they're yours. Interesting question is your tax situation. Do you owe income tax on the coins? If so, do you owe it in the year the coins are found or the year in which they are sold? And if you owe tax, are the coins considered ordinary income or a capital gain?</p><p><br /></p><p>Could the coins be considered a mineral like native gold nuggets are? If so and someone else owns the mineral rights to the property, do the coins belong to them? BTW many home and farm owners would be surprised to learn they don't</p><p>own the mineral rights to their property. We own 1/2 the mineral rights to our ranch, which is unusual, and have no idea who owns the other half. The mineral rights are an entirely separate deed.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 8205367, member: 77639"]In the US, I presume if you find coins on your own property that unless someone else has a substantiated prior claim, they're yours. Interesting question is your tax situation. Do you owe income tax on the coins? If so, do you owe it in the year the coins are found or the year in which they are sold? And if you owe tax, are the coins considered ordinary income or a capital gain? Could the coins be considered a mineral like native gold nuggets are? If so and someone else owns the mineral rights to the property, do the coins belong to them? BTW many home and farm owners would be surprised to learn they don't own the mineral rights to their property. We own 1/2 the mineral rights to our ranch, which is unusual, and have no idea who owns the other half. The mineral rights are an entirely separate deed. Cal[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
What would you do if you saw this on a hike?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...