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Charitable donations of precious metals

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  • Wed, Aug 26, 2015 - 02:46am

    #1
    rcbaker

    rcbaker

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    Joined: Dec 07 2014

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    Charitable donations of precious metals

Hi folks,

I have accumulated a number of gold coins that I would like to donate to certain 501c3 officiall non-profit charities.  I plan to put them in my will to be transferred from a safety deposit box.

Are they fully or mostly now protected from taxes as I think? Is there a best way to go about this in terms of preparations of details and management instructions? I can't help but think that it might help to do a sort of dry run of a few of the total while I am alive to make sure everything goes smoothly. Some non-profits would have no idea of what to do, so I imagine that I should help by providing sales or transfer details in advance.

I'm sure this must have come up before and I am thankful for any advice.

— Roger

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