And will the tax man come and ask for his cut?
Just wondering, if you find sunken treasure, is it technically considered taxable income? I have a feeling that the government officials would interpret the tax code in a way that it is taxable.
Last time I checked, supposedly yes it is from someone I know of who does this as a living. Great job: diving, out in the sun, beaches, warm waters etc. One impt. downside is you have to have an international lawyer at your beck and call 24/7 as each country have their maritime laws.
Yes...and IRS are pretty astute with numismatic values. The finder could try (and fail) to claim 1000 x1oz of gold coins found and TRY (and fail) to pay 43.6% fed income tax and obamatax on approximately 1,100,000.00 (assuming price of gold/oz is $1,100.0z). However, if their are numismatic values, such as the single coin worth $500k, yep. IRS will go after the numismatic value of the coins worth vs the 1 oz of gold in it.
Point being (pardon the pun) Silence is GOLDen.