Re: Where and how do you purchase physical gold?
Posted: Sun Mar 25, 2018 7:59 pm
My daughter is doing an engineering internship in Switzerland this summer. I have a feeling she's going to go to grad school there. It sounds great.
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That sounds great. I wish I had had that opportunity early in my career.ochotona wrote:My daughter is doing an engineering internship in Switzerland this summer. I have a feeling she's going to go to grad school there. It sounds great.
The GCC reference was to having no earned income, so that capital gains/dividends/interest are tax free (for US citizens).Libertarian666 wrote:That is generally true... unless they are US citizens, in which case they are subject to US tax law no matter where they live.Kriegsspiel wrote:I've seen Puerto Rico, the Channel Islands, and Hong Kong mentioned.
But really, you can be pretty fucking rich and not need to deal with renouncing your citizenship. gocurrycracker has written a lot about how international travellers don't need to worry about taxes.
There is no special treatment for capital gains, dividends, and/or interest for expatriates. Sure, if your gross income is low enough you won't have any tax liability, just as you wouldn't if you were living in the US, but that isn't special for expatriates. In any event, you still have to comply with US tax laws, which include a lot of extremely unpleasant paperwork if you have any significant amount of assets outside the country.Kriegsspiel wrote:The GCC reference was to having no earned income, so that capital gains/dividends/interest are tax free (for US citizens).Libertarian666 wrote:That is generally true... unless they are US citizens, in which case they are subject to US tax law no matter where they live.Kriegsspiel wrote:I've seen Puerto Rico, the Channel Islands, and Hong Kong mentioned.
But really, you can be pretty fucking rich and not need to deal with renouncing your citizenship. gocurrycracker has written a lot about how international travellers don't need to worry about taxes.
barrett wrote:Just thought I'd pass this along...
I put in an order with Kitco on Monday and wired $ the same day. Coins were shipped Tuesday and arrived via UPS on Wednesday even though I didn't pay for expedited shipping. Ten coins at $1,312 each. Insurance was $52.48 & the wire fee was $30. Price above spot was $21 per coin. All included my price above spot was just under 2.2%. Pretty damn easy and the coins are all 2016 Eagles in great shape.
This is one of the "special offers" on their site for which - at least this is my understanding - one cannot specify a year on the coins.
I have to say I am pleasantly surprised (and that my wife is a little freaked out that I bought gold online). Open package, fondle, make note to dig a hole in the back yard when the ground thaws.
Nah, premium is 2.2% and gold is up less than 1%...the way I see it you are up 1.2%dualstow wrote:^ Hmm, I wonder if I missed my chance. ^
Short-term thinking, I know.
I don't have enough cash in taxable space to buy physical gold yet, but I'm planning on buying it from a brick and mortar place for privacy. I imagine I can walk in, buy a coin with cash and walk out without them knowing anything about me, right?blue_ruin17 wrote:For physical (40% of my gold allocation) I order from silvergoldbull.ca. Free, fast shipping; usually the lowest premiums I can find. Online dealers are pretty much the only way to go, IMO -- brick and mortar dealers just can't compete.
I think that's true, at least until an ounce is more than $10,000. I don't know for sure, because I used a personal check, never cash.Jack Jones wrote:I don't have enough cash in taxable space to buy physical gold yet, but I'm planning on buying it from a brick and mortar place for privacy. I imagine I can walk in, buy a coin with cash and walk out without them knowing anything about me, right?
buddtholomew wrote:Nah, premium is 2.2% and gold is up less than 1%...the way I see it you are up 1.2%dualstow wrote:^ Hmm, I wonder if I missed my chance. ^
Short-term thinking, I know.
The CREDIT CARD prices are in the left-most column. They are much higher than CASH / CHECK / WIRE prices. I was comparing Tex CC prices vs. everyone else's cash prices. Silly me. I suggested they make the CC prices the right column, not the left. People read left-to-right.
So with that considered are their cash prices still good compared to other dealers?ochotona wrote: ↑Sun Sep 09, 2018 5:42 pmThe CREDIT CARD prices are in the left-most column. They are much higher than CASH / CHECK / WIRE prices. I was comparing Tex CC prices vs. everyone else's cash prices. Silly me. I suggested they make the CC prices the right column, not the left. People read left-to-right.
They seem OK. Not the best the day I looked, but leadership changes all the time for different products.Lonestar wrote: ↑Mon Sep 17, 2018 8:33 amSo with that considered are their cash prices still good compared to other dealers?ochotona wrote: ↑Sun Sep 09, 2018 5:42 pmThe CREDIT CARD prices are in the left-most column. They are much higher than CASH / CHECK / WIRE prices. I was comparing Tex CC prices vs. everyone else's cash prices. Silly me. I suggested they make the CC prices the right column, not the left. People read left-to-right.
@MayorDeBlasiosophie wrote: ↑Wed Mar 06, 2019 6:58 am There are several in midtown Manhattan. Check google for listings and ratings. Oddly, I haven't tried any yet but I plan to next time I get around to buying gold. A couple have reasonable markups, and picking up in person saves on shipping fees.
There's no sales tax on gold as long as your purchase is over $1,000, and the gold isn't in the form of jewelry or similar.
I still think there would still be value in having some physical since it is the only asset we can directly own physically in hand. But I don't think I would want my entire stash in physical. I have a number in mind that I would like to build up to in physical, and once I'm there I would be personally comfortable in either a low cost unallocated account or low cost ETF for the rest. The idea would be to never sell any of the physical I'm holding except in the event of an emergency where there is no other choice. That would make it ultimately lower cost over my lifetime than unallocated accounts or ETF's.ochotona wrote: ↑Sat May 11, 2019 1:53 pm At some point in the future we're going to know if physical gold was worth it or not. If physical and ETFs track well enough during the next gold panic buying episode or bubble, then there was no point to owning physical; let the selling begin. We won't know for a while.
Actually, I was thinking of my Millennial and Gen-Z heirs. I guess it's OK to have the Executor hand out coins to the kids, but the mechanics of dealing with my GoldStar precious metals IRA, with the custodian and the dealer both involved, and the forms that have to be properly filled out and sent around... I'd rather sell the physical and send the cash back to my Schwab IRA and by gold ETFs well in advance when I'm still healthy enough and make the final distribution easier for them.