SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : High Tolerance Plasticity
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: CommanderCricket who wrote (18750)2/3/2003 12:11:00 PM
From: Warpfactor  Read Replies (2) of 23153
 
A tax related question re: ownership of gold bullion.

Let's say one bought $10,000 of gold coins at $300 per oz.

Now that gold is at $370, you want to sell. So you go down to the nearest dealer and exchange your coins for cash, probably getting $360 or so from the dealer who wants a cut.

If you wanted to be Johnny good tax-paying citizen, you would report this gain on next years 1040. But as near as I can tell, there is no paper trail following your purchase and sale of gold, so you could easily unload your physical investment with no tax consequences.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News