Announcement

Collapse
No announcement yet.

Okay SilverBugs, fess up, how much you got?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • ocelotl
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    I actually asked at the bank counter in several different banks if they would receive physical metals at their published "buy" quote, and I got a blank stare. I asked then to see a manager and mentioned them the 1931 (ammended in 1977) Mexican Monetary Law, and said they would check. After some phone calls I got a yes but with a commision quote for the bank and limited to the monthly deposit allowance.

    Leave a comment:


  • karim0028
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by c1ue View Post
    I wouldn't try a straight trade - rather the method is to have the ownership under a corporation in Delaware or Nevada.

    Then whatever you're trading for is owned by another corporation - at this point it is unquestionably 'like kind' since you're trading investment companies.

    clue, have you actually tried that and had it work? Seems to me the IRS isnt that niave.... And why specifically delaware or nevada? Is it due to their secrecy laws or anything like that?

    Leave a comment:


  • karim0028
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by chedir007 View Post
    Silver has hit the top of its channel again: but articles like James Turk's (below) and others (MaxKeiser, Bank lawsuits) appear to support notion that "this time is different" at least in short term (??) for silver, maybe gold

    http://www.fgmr.com/scramble-for-phy...tensifies.html


    I am getting out of the stock market but wondering whether to take profits in pslv as well or ride any storms and not miss an up explosion...


    ps: from Jesses' Cafe link

    http://www.gold-eagle.com/editorials...eyb120310.html

    I am no gold or silver bug... But, the way silver is moving right now it looks pretty strong. Until of course it doesnt.... I'm betting it stays strong, bc the mining stocks are still behaving very strong and are almost neglected.

    Leave a comment:


  • karim0028
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by c1ue View Post
    If you're going to be exiting high 5 or 6 digits (or more) worth of PMs in one shot, you are better off with a 1031 exchange anyway.

    For anything smaller - the bank lobby (or airport, or high end hotel, or the policeman buddy) will do.

    How do you do a 1031 exchange with gold/silver? I thought it could only be done with like?

    Leave a comment:


  • doom&gloom
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by c1ue View Post
    I wouldn't try a straight trade - rather the method is to have the ownership under a corporation in Delaware or Nevada.

    Then whatever you're trading for is owned by another corporation - at this point it is unquestionably 'like kind' since you're trading investment companies.
    very wise idea!

    Leave a comment:


  • c1ue
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by aaron
    Can you do a 1031 exchange for gold and silver in trade for something else like real estate? That would be really great news. I always thought it had to be a "like" investment.
    I wouldn't try a straight trade - rather the method is to have the ownership under a corporation in Delaware or Nevada.

    Then whatever you're trading for is owned by another corporation - at this point it is unquestionably 'like kind' since you're trading investment companies.

    Leave a comment:


  • doom&gloom
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by charliebrown View Post
    small amount of physical in bullion coins, and u.s. morgan's for the mad max scenario.
    3% in PSLV/CEF, 2% in SLV with jan 22 calls written against them ;( bad trade on my part.
    everyone has bad trades. so it goes...

    Leave a comment:


  • doom&gloom
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by aaron View Post
    Can you do a 1031 exchange for gold and silver in trade for something else like real estate? That would be really great news. I always thought it had to be a "like" investment.
    no, i don;t think that is possible. I mean when the price of metals escalates faster than the price of farmland, I hope to use that gain towards farmland. Perhaps a trade of so many gold eagles or $1k face junk silver per acre...

    Leave a comment:


  • aaron
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Can you do a 1031 exchange for gold and silver in trade for something else like real estate? That would be really great news. I always thought it had to be a "like" investment.

    Leave a comment:


  • charliebrown
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    small amount of physical in bullion coins, and u.s. morgan's for the mad max scenario.
    3% in PSLV/CEF, 2% in SLV with jan 22 calls written against them ;( bad trade on my part.

    Leave a comment:


  • doom&gloom
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by c1ue View Post
    If you're going to be exiting high 5 or 6 digits (or more) worth of PMs in one shot, you are better off with a 1031 exchange anyway.

    For anything smaller - the bank lobby (or airport, or high end hotel, or the policeman buddy) will do.
    I actually hope to trade mine for.... more farmland.

    Leave a comment:


  • c1ue
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by jk
    i'll quote karim
    If you're going to be exiting high 5 or 6 digits (or more) worth of PMs in one shot, you are better off with a 1031 exchange anyway.

    For anything smaller - the bank lobby (or airport, or high end hotel, or the policeman buddy) will do.

    Leave a comment:


  • chedir007
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Silver has hit the top of its channel again: but articles like James Turk's (below) and others (MaxKeiser, Bank lawsuits) appear to support notion that "this time is different" at least in short term (??) for silver, maybe gold

    http://www.fgmr.com/scramble-for-phy...tensifies.html


    I am getting out of the stock market but wondering whether to take profits in pslv as well or ride any storms and not miss an up explosion...


    ps: from Jesses' Cafe link

    http://www.gold-eagle.com/editorials...eyb120310.html
    Last edited by chedir007; 12-05-10, 06:09 PM. Reason: additional link

    Leave a comment:


  • jk
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Originally posted by chedir007 View Post
    Can you clarify by "reportable income"?

    I have CEF in a taxable account and have done some trading with it. My assumption is that I will be paying the normal "capital gains", and there will be no other "surprises".

    Please confirm- thanks.
    there's a passive foreign investment form to file.

    Leave a comment:


  • chedir007
    replied
    Re: Okay SilverBugs, fess up, how much you got?

    Can you clarify by "reportable income"?

    I have CEF in a taxable account and have done some trading with it. My assumption is that I will be paying the normal "capital gains", and there will be no other "surprises".

    Please confirm- thanks.

    Leave a comment:

Working...
X