As we approach tax time here's a heads up.


https://www.wsj.com/articles/a-coup...rl&reflink=desktopwebshare_permalink

yes wait until they hit the bit coiners. weeping and knashing of teeth will be heard around the US

write the department of the treasury ask what the face value is on a 20 dollar golden eagle.

The elite game sure hates real assets!! they want all the money in worthless wall street paper!!
play on boys ... ill put my money in somethin i can hold in my hand !!

Most bullion dealers offer gold and silver IRAs but all you get is a piece of paper... Even the precious metals commodity traded paper way exceeds the actual product.. What would happen if all paper holders decided to take immediate delivery???? Hard to beat having product in hand when SHTF...

You don't have a clue do you?

Did you actually read the article?

Did you comprehend why the couple got into trouble?

Diggerdale, I'm with you, if you don't hold it, you don't own it.

I would never buy metals through an IRA, it defeats the purpse.

How many bars of gold can you carry in your packsack.
Invest in softgold-its lighter and much more useful in the cold.

Never knew about any of this. Hadn't been that interested in using IRA money for anything outside the market and likely stay that way. Thanks Ken.

Explain soft gold please.

I suppose that decision scuttles my own scheme to invest IRA assets in guns.

Jim

Lead or copper

Only thing sure is death and taxes, looks like the the conversion from traditional IRA to Roth will end the first of the year. Still cant figure out why the feds don't make pot legal and tax it. Crazy how many states made it legal and the feds let it go on but don't tax it, losing billions.

I see none of you know how a gold and silver IRA works, I had one for years when you cash out you can take the value or coins that you put in the IRA.I owned the coins the trustee has held them and charged a small fee each year to store them I owned them.

I know how the precious metals IRAs work. But I believe the actual supply is FAR less than than what is owned on paper. What worked for you may not work going forward. I am at a point where I would rather withdraw some from an IRA, pay the tax, and buy the physical product.

Update?

The 5 yr. chart is aprx. 1200.00 5 yrs. ago to aprx. 1800.00 today. Today's morning London fix was 1855.00.
That's the spot price of 1 oz. of physical gold bullion. Eagles cost more due to manufacturing and costs incurred plus profit for retailers.

Green C. P. You know the face value of a 20 dollar gold coin is of course 20 dollars. Now go to the bank and give them a 20 dollar Fed. Res. Note and ask them if you can buy one. Little smiley thingy.

white 17: I tried your link but it is so old the page is no longer available, sorry I wanted to read it. I can extrapolate though.

Would be awesome if we could bring a silver certificate one dollar bill and redeem it for a silver dollar?

The gist of the story is an individual had physical gold in his IRA and had it stored at home. That is perfectly legal to do. What got him in trouble was he wasnt following the rules of the IRA and either selling the gold when he needed money and purchasing it later or using it as collateral or flat out selling it. When he was found out they penalized him pretty hard.

A person can own gold in an IRA and either have it stored away or store it at home but you better put it in a safe and forget you own it to follow the rules of the IRA.

Personally I don't think it's a good idea to own gold with an IRA.

Ok, ya didn't know about holding yourself thing. Always thought it had to be a disinterested 3rd party, kinda thought they were scams that charged you a vault fee then sent you cash to cash out. I can't remember when they stopped the silver certs. deal i don't remember doing it and I'm 72, Thanks for the assist.

OK You buy gold , and put it in your safe.
Why are you buying a IRA gold paper ?
Your gold is worth what it is , and it's gone up in value.
On paper the corrupt government knows what you have .
The choice is yours , but I'll never understand owning gold on paper that is worthless with just an eraser .
And a corrupt government that steals even your children !