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What does one do with real gold?

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  • #16
    Re: What does one do with real gold?

    Originally posted by PeterM
    I don't hold gold yet, but from what I have read Kitco does not charge tax (don't ask me how that is organised :confused: but look at their website).
    https://online.kitco.com/sellprice/Ordr_Faq.htm see bottom under miscellaneous

    Alternatively if you are ever in Holland you can buy 'investment gold' here VAT-free (may be there are other countries too).
    Investment gold means, non-numismatic coins and bullion that can be used as legal tender.

    From what I understand from the tax laws you can legally cross international borders with gold without paying taxes as long as the gold is in legal tender coin form. Probably with a max, but you should consult your tax advisor on that.

    Of course this info should not be construed as encouragement to do something illegal, or to try to obtain gold without the goverment knowing about it. :rolleyes:
    Kitco says it does not report its sales transactions to the IRS. I personally find that difficult to believe.
    Jim 69 y/o

    "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

    Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

    Good judgement comes from experience; experience comes from bad judgement. Unknown.

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    • #17
      Re: What does one do with real gold?

      Originally posted by Jim Nickerson
      Kitco says it does not report its sales transactions to the IRS. I personally find that difficult to believe.
      It's when they buy that the IRS is interested in. That is, when you sell. Your purchase is not a taxable event for you.
      Finster
      ...

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      • #18
        Re: What does one do with real gold?

        Originally posted by Finster
        It's when they buy that the IRS is interested in. That is, when you sell. Your purchase is not a taxable event for you.
        Thanks, Finster, I too often see but do not comprehend.

        There is interesting chart perspective on gold pullbacks at http://www.financialsense.com/editor...2006/0919.html using 300 day moving average. Were this to continue to be valid, then target for current pullback could be 547.
        Last edited by Jim Nickerson; 09-19-06, 07:40 PM.
        Jim 69 y/o

        "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

        Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

        Good judgement comes from experience; experience comes from bad judgement. Unknown.

        Comment


        • #19
          Re: What does one do with real gold?

          Originally posted by Jim Nickerson
          Thanks, Finster, I too often see but do not comprehend.
          I saw the same thing when I first read that ... took me some thought to figure that one out, too ... ;)

          Originally posted by Jim Nickerson
          There is interesting chart perspective on gold pullbacks at http://www.financialsense.com/editor...2006/0919.html using 300 day moving average. Were this to continue to be valid, then target for current pullback could be 545.
          A fall to that area wouldn't be especially surprising. Not inconsistent with the current FFF - it shows a low around 560 but does not capture intraweek extremes. FWIW, regardless if I were low on gold, I wouldn't try to game bottom tick to to pick some up. Anything in the 500-600 zone is an easy call to accumulate...
          Finster
          ...

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          • #20
            Re: What does one do with real gold?

            Originally posted by Finster
            I saw the same thing when I first read that ... took me some thought to figure that one out, too ... ;)



            A fall to that area wouldn't be especially surprising. Not inconsistent with the current FFF - it shows a low around 560 but does not capture intraweek extremes. FWIW, regardless if I were low on gold, I wouldn't try to game bottom tick to to pick some up. Anything in the 500-600 zone is an easy call to accumulate...
            I should have put 547USB, and I wondered what it would be on the FDI.
            http://users.zoominternet.net/~fwuth...alForecast.htm

            So is your number of 560 taken from your projection, or did you get it from putting in a 300 DMA?
            Last edited by Jim Nickerson; 09-19-06, 07:49 PM.
            Jim 69 y/o

            "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

            Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

            Good judgement comes from experience; experience comes from bad judgement. Unknown.

            Comment


            • #21
              Re: What does one do with real gold?

              Originally posted by Finster
              It's when they buy that the IRS is interested in. That is, when you sell. Your purchase is not a taxable event for you.
              they might be interested in purchases as part of money laundering, financing terrorism, whatever. i'm sure uncle sam would be curious. for example, note that on your taxes you have to disclose whether you have a foreign investment account.

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              • #22
                Re: What does one do with real gold?

                Originally posted by jk
                they might be interested in purchases as part of money laundering, financing terrorism, whatever. i'm sure uncle sam would be curious. for example, note that on your taxes you have to disclose whether you have a foreign investment account.
                Correct me if I'm wrong, but I think that's where the $10,000 limit kicks in, and at that point it's the DHS, not the IRS, that gets notified.
                Finster
                ...

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