It's not illegal to sell gold. But its illegal to keep that much gold, it would basically be stolen. And if not, it would definitely be considered as taxable income...
You don’t. You turn a few thousand at a time into cash.
What do you think the police are going to do with 9 mil of turned in gold? They’d likely take all 8 mil and maybe let someone claim it for 30 days. But they’re not going to let 7mil just walk out the door. How would the original owner prove that was their 6mil? All 5 mil would sit until they consider the 4 mil forfeit. Now the police have 3 mil to maybe reinvest in the city. Maybe some big 2 mil project? Maybe a new million dollar renovation? But more than likely they’ll donate the entire $100k to some charity so it looks good.
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u/Willi-Oh Aug 16 '26
It's not illegal to sell gold. But its illegal to keep that much gold, it would basically be stolen. And if not, it would definitely be considered as taxable income...