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Re: worst gold fund for 2019
Posted: Fri Dec 06, 2019 5:22 pm
by stuper1
When you sell gold bullion, including gold coins, isn't it taxed as a "collectible"? Doesn't that offer a strong argument that gold coins kept in a safe deposit box are "collectible" items, which are allowed under the Chase agreement?
Re: worst gold fund for 2019
Posted: Fri Dec 06, 2019 5:25 pm
by Libertarian666
stuper1 wrote: ↑Fri Dec 06, 2019 5:22 pm
When you sell gold bullion, including gold coins, isn't it taxed as a "collectible"? Doesn't that offer a strong argument that gold coins kept in a safe deposit box are "collectible" items, which are allowed under the Chase agreement?
I wouldn't count on it. As with the IRS, they are going to use whatever definition suits them in each case without worrying about logical consistency.
Re: worst gold fund for 2019
Posted: Fri Dec 06, 2019 5:49 pm
by mathjak107
stuper1 wrote: ↑Fri Dec 06, 2019 5:22 pm
When you sell gold bullion, including gold coins, isn't it taxed as a "collectible"? Doesn't that offer a strong argument that gold coins kept in a safe deposit box are "collectible" items, which are allowed under the Chase agreement?
Nope ...how something is taxed has no bearing.. a tax category does not make something a collectible .
Re: worst gold fund for 2019
Posted: Fri Dec 06, 2019 7:08 pm
by dualstow
Put the coins in a stuffed animal, and then bring that to the bank.
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 3:24 am
by mathjak107
a few coins are easy . but in my case 500k in gold is going to raise a few eyebrows ha ha ha
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 5:10 am
by dualstow
mathjak107 wrote: ↑Sat Dec 07, 2019 3:24 am
a few coins are easy . but in my case 500k in gold is going to raise a few eyebrows ha ha ha
Wow! That’s over 20 lbs of gold. Raised my eyebrows, anyway.
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 7:37 am
by mathjak107
i don't bother with possession anymore ... not worth the trouble when it comes to shipping , selling , storage , and insurance .... i have guns , with those i can get anything else i need when the zombie attack happens .
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 8:37 am
by Libertarian666
mathjak107 wrote: ↑Sat Dec 07, 2019 7:37 am
i don't bother with possession anymore ... not worth the trouble when it comes to shipping , selling , storage , and insurance .... i have guns , with those i can get anything else i need when the zombie attack happens .
I'm not sure that is the best plan. It doesn't always work out well in the literature.
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 12:09 pm
by dualstow
Shipping's free.
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 4:12 pm
by ochotona
If you shoot someone and they sue you, you're going to lose your gold anyway
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 4:29 pm
by mathjak107
ochotona wrote: ↑Sat Dec 07, 2019 4:12 pm
If you shoot someone and they sue you, you're going to lose your gold anyway
In the proverbial zombie attack where you need your physical gold I wouldn’t worry about courts or law suits as we are talking anarchy or chaos
Re: worst gold fund for 2019
Posted: Sat Dec 07, 2019 9:28 pm
by Kbg
ROFL...Based on my reading of lots of history I totally do not agree with the HB take on the usefulness of gold as a practical form of exchange during a zombie apocalypse.
Let’s go with history that everyone knows: You are Jewish, living in Germany and it’s the 1930s. Make the case that gold was helpful. (I will concede it was if you had a lot of it in a foreign country and you had dual residency in the country you were holding it in...in 1928.) What was far more valuable was to have a govt official/friend who could get you the necessary exit papers.)
Other than that, you were screwed.
Re: worst gold fund for 2019
Posted: Sun Dec 08, 2019 2:15 am
by mathjak107
i agree . in those crap hits the fan situations bartering skills are likely going to be much more important ..when money became worthless in germany bartering to get what you need was the main way goods and services were provided.
i see gold as just another asset class for investing in , end of its usefulness , except for wearing shiny objects.
it is likely the first time you flash the gold you thought that would buy your way to freedom it would be stolen from you .
Re: worst gold fund for 2019
Posted: Sun Dec 08, 2019 3:19 am
by Kbg
i see gold as just another asset class for investing in , end of its usefulness , except for wearing shiny objects.
it is likely the first time you flash the gold you thought that would buy your way to freedom it would be stolen from you.
Exactly
Simonjester wrote:
in the book "The Modern Survival Manual: Surviving the Economic Collapse Paperback – September 11, 2009" written by a guy that survived an actual economic collapse, he recommended gold chains as a "survival gold" for exactly the above reason..
it allows you to break off a few links and barter, while giving the appearance of having limited resources and avoiding robbery.
its a good book for "survival realism" as apposed to most of the survival books out there that are just fap material for guys that like to imagine themselves as post apocalyptic tough guys..
it has been recommended a few times on this forum.. definitely a good read on the topic..
Re: worst gold fund for 2019
Posted: Sun Dec 08, 2019 8:39 am
by mathjak107
to be be honest i had enough of those visions of doom from the goldbug newsletters i used to get more than 30 years ago .
Re: worst gold fund for 2019
Posted: Sun Dec 08, 2019 8:52 am
by ochotona
"Cuban style" gold chains have big links... Never thought of the barter connection! Hmm... Venezuela and Zimbabwe style gold chains must be similar?
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 8:49 am
by mathjak107
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 8:54 am
by ochotona
Tell it to people involved with Lehman, Enron, LTCM, Thailand,...
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 8:56 am
by mathjak107
the point is what we worry about tend to have very very very low probabilities of playing out in these doom scenarios ... sh*t will always happen to someone somewhere ...that is a given but in life we all plan around the odds of it not being us or else why plan , why save , why even work or start a family .
the reality is we can dream up all kinds of scenarios in our heads , and somewhere someone will actually have it happen . i mean those companies you mentioned were fraud . crimes happen everywhere.
but these visions of this apocalyptic zombies attacks and gold being the way out are stretching what actually will likely play out in reality
Simonjester wrote:
it comes down to realism vs fantasy and how much you invest, if you own a few gold chains and a handful of small silver it has cost you next to nothing for some "partial coverage worst case insurance", if you spend your life savings digging bunkers you have entered the survivalist fantasy world at a horrible cost...
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 9:20 am
by ochotona
Simonjester wrote:
it comes down to realism vs fantasy and how much you invest, if you own a few gold chains and a handful of small silver it has cost you next to nothing for some "partial coverage worst case insurance", if you spend your life savings digging bunkers you have entered the survivalist fantasy world at a horrible cost...
Yuli Gurriel, Cuban born and raised Houston Astros 1st baseman. There's much worse ways to spend your money than on Cuban gold chains. If you're digging bunkers, you've got a worm in your brain.
- 171029-gurriel-cheat_wslgeh.jpg (501.85 KiB) Viewed 9383 times
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 10:07 am
by dualstow
If I had a nice piece of land and the funds, I would dig a bunker. However, it would also be my man cave den and I would watch movies in there, nightly.
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 2:00 pm
by Kbg
ochotona wrote: ↑Mon Dec 09, 2019 8:54 am
Tell it to people involved with Lehman, Enron, LTCM, Thailand,...
I’m not sure what the above has to do with gold, but I will assume protection from loss.
So let’s put the above in perspective...tell it to the person who has 101K of gold in their account for every 10K invested vs his/her “risky” cousin who now has 944K for the equivalent in stocks...looks like a 94% opportunity loss to me (since 1977.)
Shall we get down to golds essentials now? It’s a highly volatile form of cash. Too much of it is detrimental to your financial well being in terms of opportunity cost. Younger investors particularly should not hold much of it if any at all.
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 3:03 pm
by dualstow
Kbg wrote: ↑Mon Dec 09, 2019 2:00 pm
ochotona wrote: ↑Mon Dec 09, 2019 8:54 am
Tell it to people involved with Lehman, Enron, LTCM, Thailand,...
I’m not sure what the above has to do with gold, but I will assume protection from loss.
I think he's saying entities like Lehman and Enron seemed unlikely to fail, but they did.
Re: worst gold fund for 2019
Posted: Mon Dec 09, 2019 3:21 pm
by mathjak107
The blue chip graveyard is full of failed blue chip companies ..but that has nothing to do with the apocalyptic scenarios those who want to hoard physical gold think up
Re: worst gold fund for 2019
Posted: Tue Jan 28, 2020 8:35 pm
by yankees60
mathjak107 wrote: ↑Fri Dec 06, 2019 9:33 am
nyc finally did away with sales tax on gold . i regretted buying from fidelity and not benham capital at that time . benham had the zero coupon treasury funds back then . boy talk about volatile .
The handful of coins I do own were bought in the mid-90s from Benham Capital. It seems that they are no longer in business?
VInny
