What Price Phelps' Gold?

Dear Fellow Tax and Valuation Geeks, Did you watch the swimmer Michael Phelps win eight gold medals during his historic performance in the 2008 Summer Olympics and think, I wonder how those medals would be valued on a gift or estate tax return? Even if it didn't occur to you at the time, admit it: Now, that I've raised the issue, you're curious. Well, I've given the matter some consideration. And

Dear Fellow Tax and Valuation Geeks,

Did you watch the swimmer Michael Phelps win eight gold medals during his historic performance in the 2008 Summer Olympics and think, “I wonder how those medals would be valued on a gift or estate tax return?”

Even if it didn't occur to you at the time, admit it: Now, that I've raised the issue, you're curious.

Well, I've given the matter some consideration. And this is how a deeply qualified valuation expert answers the question: “

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