But if you bought that coin at 35 bucks and sold it at 2000 you would depending on tax bracket lose up to 25% in value in taxes
Also you would have done much much better by leaving it in the stock market, it wouldn't even be close, or real estate...
Gold prices rise to over $2000 U.S. per ounce
- Thread starter Harveyspector
- Start date
Also you would have done much much better by leaving it in the stock market, it wouldn't even be close, or real estate...
you can sell gold for cash, so no taxes
gold is not an investment
but otherwise good comment
A German guy born around the time of Franco-Prussian
War worked all his life till he reached retirement in the 1920's.
He had to cash out his entire lifetime savings from the bank for
his golden years. In the Weimar Republic he needed that much
money to buy a loaf of bread.
No one in his right mind would suggest putting more money
on gold than necessities. I would say you are nuts if bullion in
your asset allocation is worth nearly half as much as your dwelling.
That being said just think about how much better off the poor
German guy would have been had he put 5% of saving aside on
gold or silver bullion.
War worked all his life till he reached retirement in the 1920's.
He had to cash out his entire lifetime savings from the bank for
his golden years. In the Weimar Republic he needed that much
money to buy a loaf of bread.
No one in his right mind would suggest putting more money
on gold than necessities. I would say you are nuts if bullion in
your asset allocation is worth nearly half as much as your dwelling.
That being said just think about how much better off the poor
German guy would have been had he put 5% of saving aside on
gold or silver bullion.
Taxes
Most Precious metal bullion in Canada is exempt from GST/HST provided the precious metals are defined as bars, ingots, coins, or wafers of gold, silver, platinum, which are refined to a minimum purity of 99.50% for gold and platinum, or 99.9% for Silver.
aubullion.ca
Hell even Kitco takes your information when you sell them so called junk silver.
Gold is usually considered a store of value at least by gold bugs, but there are better options. Nor is it all that stable going to 660 bucks in 1980ish then down to IIIRC 279ish 20 years later, so on so forth. Taking over 25 years to hit it
s nominal high.
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www.macrotrends.net
I knew a friend who was a gold bug, he had to quit his job at an auto company though. He didn't like FIAT... huh,,, eh... Fine I'll stop.
THat being said if I had much excess lotto money, I wouldn't mind having enough to support a lifetime of whoring in gold. Not a fan of the Harry Browne permanent portfolio as it benefited from certain one time events but if I had the excess cash to properly diversity it would be nice to be covered for prosperity, deflation and inflation, although I'd probably go annuity over cash like he suggests. Anyone got those powerball/megamillion winning numbers?
