Sure glad I did not take the advice from bc not to buy gold in april.....soon to hit $2600 and climbing...

Today is also a good day to buy gold

If a certain person would win I'm a gold buyer but haven't yet . God I hope he wins.

You bought one fractional coin, Mr. Moneybags. Near an all time high.

Don't retire just yet.

Some of use were stacking it up when it was less than a $1000. Admittedly, I missed the much lower prices.

Some of us were buying sub1000.


Who cares, you don't make money on gold,

If you sell psychical gold for a profit does it fall under capital gains tax?

We must view the accumulation of wealth differently.

got 3 $10 dollar liberty head gold coins about 20 years ago for $850 for all at a coin shop now they are almost double that for one coin .

Last I looked it has it's own special tax. I'm sure there is a way around it.

"However, the IRS considers physical quantities of metal to be a “collectible.” For collectibles, such as coins, art and bullion, the standard tax rate is 28%. As a result, owning physical gold, or owning funds that themselves own physical gold, means that you can pay a higher maximum capital gains rate of 28%."

That makes some sense as I’m not sure how that would be considered capital but yet it could be an investment.

Unfortunately, normal capital gains can be $ 0 depending on income.

Is gold worth more??

Or is the $ worth less?

That is the question

When I got my first job I would buy a ounce gold coin with each paycheck at that time gold was running about 160 an ounce and if I remember that was about half my two week paycheck, the last gold I bought was just before it started running over A thousand an ounce

Nowadays the gold I add to the horde is whatever I find panning the local
Creeks

You have no clue what I bought other than one small purchase....and you did say not to buy in april mr know it all/not.

" I have millions of ounces of gold, I keep it in the river bank." - Tom Massey

Gold is the standard. Yeah I know it's not, but it is. So when the inflation bubble pops, gold will drop fast. I'm cashing in. It's not so easy for me though, because I did get it from the ground. I have to pay the refiner the refining and assay fees. So to liquidate two ounces it will cost me almost 400 dollars. The lady did say, " that is a very small amount" several times, so I know I'm paying though the nose.

That's a cool post. Different perspective.

his point is gold is only protection against inflation. the returns are very low. 10k put in the market vs 10k in gold over any time period of say 10 years and the market will blow gold out if the water.

PF,

What if I bought it because I felt it would be worth more than it was when I bought it? Like Marty celebrating that little coin is worth a couple of bucks more.

What if I bought it to give me a headstart on being a warlord when the SHTF?

Obviously, I could have bought it as an inflationary hedge, but these are the questions I ask you to consider and decipher.

Like any investments, you dont put all your eggs in one basket. Not all investmentss have to beat 10% a year. As long as they dont loose money and at least keep place with inflation.