The [Avoidable] Pitfalls You Need to Know on Gold and Silver Ownership

[@2is1gold]

🔥🦅 EXCEPTIONAL DEALS ON ALL AMERICAN GOLD EAGLES!! summitmetals.com (Great deals on everything else too.)

[@nobodycares9494]

The 10K rule was implemented in 1970-ties.10K in 1970 was equivalent to today's 81K. It's remarkable that the IRS has not increased this amount to 80K, at least for reporting large transactions. You can't really buy so much for 10K anymore. If we go into hyperinflation, one might be able to buy a roll of toilet paper for 10K, and that will require the employers to raise the salaries; 10 K might be very little soon. I think we demand that the IRS remove the 10K rule or adjust to the inflation.

[@JC_Chappy]

It's not remarkable at all when you understand that they want all your money.

[@nobodycares9494]

@@JC_Chappy Ha,ha, yeah, to the last penny, apparently.

[@edb3877]

That's not up to the IRS to decide. Congress has to change the law to make the IRS make such a change, and getting congress to agree on anything is darn-near impossible these days. 😕

[@bigdogs-29]

@@JC_ChappyAND to be HAPPY about not having anything…

[@JC_Chappy]

@@bigdogs-29 Ve must eat ze bugz!

[@EtTuSilver]

I love the fact you can find a new way to talk about the 5-10 topics of stacking over and over yet are still my favorite creator in the space. GOAT!

[@2is1gold]

Ha, YT keeps zapping me when I stray. 😄

[@bobbystark3721]

I’d love to hear what you really have to say when you’re not being “hamstrung” by the algorithm. I do agree…your content is fantastic, and I don’t blame you for understanding the algorithm and creating your content with the algorithm in mind.

[@jake8077]

and i never get tired of the boat story ... sorry

[@thepitbullfather9725]

I’m taxed when I earn it, I’m taxed when I buy it. I’m taxed by inflation, I’ve have enough of paying more damn taxes. Shit if a man brought home what he actually earned, how much better would the world be? Rant over, you do work sir thanks.

[@clandeszipp4564]

Yeah, but then the rulers wouldn't have their yachts, would they?😂

[@bidmcms3]

I just bought a new house and guess what the property taxes are… $12,000 a year! Fuuuuuuck taxes

[@lynnbloom4076]

@@bidmcms3 yow that is high

[@danielbbq]

Our only option is to buy more assets to fund our life and fewer liabilities that drain it.

[@AreU4Real1]

And who will pay for your services? “What a man actually earned” How do you figure that the salary would be the same when no one pays taxes. There is a lot that goes into this.

[@clandeszipp4564]

Fork taxes. Just give your gold to your children. The state can go and fork itself sideways.

[@klayk74U]

Tbh you’re the most reasonable and logical gold guy on KZbin

[@2is1gold]

🤝

[@Flownthecoup23]

Funny, I lost my gold and my pew pew’s in a boating accident as well 🤣

[@2is1gold]

The sea was angry that day!

[@sneakyfox1876]

​@@2is1gold If you're referring to the Marine Biologist episode, you have my sub forever lol

[@boilermatt]

I don't have anything nice to say about taxes

[@robbiehollywood1937]

I TOTALLY AGREE! Taxes are theft.

[@edb3877]

There are no tax collectors in Heaven... but hell is awash in them. Also lawyers and politicians, often one and the same.

[@joeyr2720]

Good info. Trust setup and estate planning are very important!

[@edb3877]

Agreed. A well organized estate, complete with ALL of the required documents, is worth a great deal to anyone who loses a loved one. It's one of the last gifts we can give to our family.

[@Denice340]

Thanks for making the video, I always appreciate your time.

[@TheQuickSilver101]

Stacking sensible coins avoids potential risks. My personal stack is sensible, my collection is not. I might sell the collection if I know far enough in advance before my number is up. If I don't this video has inspired me to separate my collection from my stack and make some clear notes so my kids now what to do with each

[@2is1gold]

I've done something similar. Cheers!

[@christopherstewart9874]

The 28% tax on precious metals is often misunderstood. The long term capital gains tax rate is the same as your ordinary income rate, but it is capped at 28%. If you are in the 22% or 24% bracket, the tax rate is the same whether it is long term or short term gain. (Not tax advice. Consult your own CPA - and if he tells you different, tell him to look it up.) Also, there's no 8300 if the coin shop gives you a check for your gold, even if it's over $10,000).

[@wasillastacker]

I am Not planning on handing any of my stack down to anybody. And no one I know on a personal level has any idea that I even own a single ounce of anything. I'm hoping to sell it all before I die. If I don't, I left notes in my particular stash spots congratulating whoever finds it first.

[@sazajac77z]

Please do more on this subject, esp tax consequences of selling, whether privately or from a PM IRA. Preparing to retire with a stack. Love your show!

[@getprepped3144]

This is how messed up the guv or mint is. If I buy food and freeze it for a year or two and the food prices have gone up over those last two years, which it has, then when I eat the food that I bought at a lower price, am I going to be taxed capital gains on the food?

[@leiphasw]

Just take your gold ounces to a local coin shop and trade them for a stack of silver ounces. No paper trail and you can sell as much silver under the radar as you want in smaller tranches with no government nosiness or paperwork.

[@lorieedmonds5514]

Very informative! Thanks

[@ClassicalNumismatics]

Gold? Silver? What gold and silver? I absolutely dont own any gold and silver, not a single ounce :)

[@2is1gold]

Your gold and silver should be exempt. You're doing a public service keeping it safe!

[@SpeedDemonExpress]

I need a tax credit from my lost purchasing power of my savings account.

[@TheOnlySaneAmerican]

Exactly. They want to tax you 28% on your hedge against inflation. But, truth be told, if there wasn't consistent inflation most of us wouldn't even own gold or silver to hedge against it. So government creates the problem, inflation, but then steals from you anything you do to protect yourself from the problem. It's EVIL.

[@michaelmccoy2847]

Keep stacking friends

[@williamradford1307]

Leave the gold home on the next cruise. Got it. 😁 Great tip on the fractional. Thanks

[@wda-59-14]

Having had to settle two estates in the last few years, I'm an even bigger fan of gold...just sayin'.

[@natemr4482]

Great video brother thanks for the info have a great week 🥃🥃🥃

[@2is1gold]

Thanks Nate!!

[@PatriachalRain]

So with the Eagles and Buffaloes there is no 1099 B, but if the sale or purchase is in cash totaling $10,000 or more, it will trigger a form 8300? Have I got that right 2? You have been very kind to explain this numerous times but it is hard for my senior citizen brain to learn new tricks and even harder to retain the things learned after a certain age. I really should write it down but I have a fear of “trails” that rivals my fear of transporting things by boat. I realize you are not a tax professional, but I consider you an authority on gold and gold related issues. That is why I make sure to catch every video you put out.

[@bhargi4692]

Sounds right, stay under the reporting limits

[@paull9137]

There seems to be a lot of people out there that don't know how to avoid boating accidents. :)

[@2is1gold]

It can get rough out there!

[@MG-hg8cu]

Thurston took a crate of money on the S.S.Minnow and look what happened to him

[@jebruinc6411]

Keep rockin

[@SpatioTemporalEntity]

If you buy something at fair market value and later sell it at fair market value how is that a capital gain, aka Income (something derived from capital)? "to apply the tests laid down in Eisner v. Macomber, 252 U. S. 189, 252 U. S. 207), a gain derived from capital, not a gain accruing to capital, nor a growth or increment of value in the investment, but a gain, a profit " -United States v. Phellis

[@jamesrickman1845]

Nice to see you focusing on shiny gold coins and leaving the geopolitics and economics to the grown ups.

[@2is1gold]

Deranged grown ups. 😄

[@tonybonesLD]

The tricky part is if gold ever goes over 10,000 an ounce. Then you try to go sell 1 ounce to liquidate it, you’ll get a tax sheet every time.

[@juliusarnold2844]

You could always melt it, then sell what you need.

[@Wimpl00]

None of that matters at Barter Town

[@toadrepublic]

Ohhhhhh, mind blown. Never considered that until just now. Looks like I'm going fractional from here on.

[@TheMillennial_Stacker]

Is he telling us to buy a boat with our gold?

[@Dino-kr9cb]

Sell less than an ounce at a time

[@TuffEnuffIII]

always sell your gold for cash. no tax

[@Goldylocksss]

Not many places buy for cash in UK it's all through bank transfers😮

[@edb3877]

@@Goldylocksss Banks are a little sticky about such things. They don't want to break the laws of the land and having a complete paper trail is one of the best ways to avoid that. IMO, it's MUCH better to pay some tax than it is to get caught not paying it when you should have.

[@Goldylocksss]

Yep, good comment😊​@@edb3877

[@TheOnlySaneAmerican]

@@Goldylocksss Sneak your precious metals into another country and sell it for cash.

[@Onionpatchkid]

Hey 2is1!!! I just wanted to drop a line and tell you I just bought 1 oz Pamp bars for below spot today at Costco. Spot price was $2680 while I was in the store (it's dropped a little in the last couple of hours). I got the bars for $2689.99 each which was $10 over spot at that moment but I used my Costco Visa card and earned 2% cash back. My home State doesn't charge sales tax on bullion so after taking the 2% off of $2689.99, I saved $53.80 each essentially paying $2636.19 per bar. $43.80 below spot at that moment of purchase. I was going to buy silver bars too but they weren't a good deal. The 10 oz Pamp bars were $339.99 each. Costco must have bought them when silver was higher than it is today so they're sitting on them for now. Spot for silver was around $31.73 when I was in the store.

[@2is1gold]

Nice catch!

[@Onionpatchkid]

@@2is1gold Dollar cost averaging goes both ways. Most people think it only applies to when the price drops. It doesn't. If you really believe in what you're doing, keep investing, regardless of the price going up or down.

[@blakekogut3045]

Very informative thank you ive never sold to a coin store more than 10k at the time

[@Darzall]

My worry is when one ounce goes over 10k, its not only what others have mentioned about having to always report...but also just cause I highly doubt incomes will keep up with that...and thus I and most others will have been long before priced out of buying any gold. Possibly even 1/10 oz, after however high premiums on fractional shoot up when one ounce goes over 10,000

[@psyience3213]

that is some really good information to have.

[@yanbaihuzxzxzx]

2850 by the end of the year. Only thing that will drop gold price is if they find a few tons readily available just under a few inches of dirt

[@mrmegahrtz]

One thing to point out. For long term capital gains, there is a 0% tax bracket. I belive anything under $43,000 for individuals or $96,000 for couples within a tax year isnt taxed at all.

[@GregJones-df1ge]

Great video. I've seen your earlier videos on this subject and it has kept me from buying Krugerrands even when they sell at spot. I've wanted some ever since Lethal Weapon first came out. Question: Are all US Mint products (like the high relief coins) exempt from capital gains or is the law specific to buffs and eagles?

[@2is1gold]

Anything from the U.S. Mint is exempt from the 1099-b form but not from CGT.

[@GregJones-df1ge]

Cool. Thank you

[@72cmcinc]

Taxes, capital gains...hunh : ) Always great info!

[@dpoverland7273]

I freaking love you dude

[@donbxman7080]

GREAT info! Always a plus to know the ins & outs. If you bought 1 oz of gold for say $1000 and 2 years later you sold it for $1002 would that $2 gain be reportable?

[@2is1gold]

Costs can include storage fees, insurance costs, etc. but technically yes.

[@donbxman7080]

@@2is1gold Insane you get taxed twice! Once when you report the $2 gain and again when they hit you with the dollar decline due to inflation!

[@shawndiesel007]

​@@donbxman70803x - don't forget the post tax money you bought the coin with

[@foreignerescapestothephi-lj3ls]

I’ve bought and sold hundreds of ounces of gold over the years and have NEVER paid one dime in tax on it! Buying or selling it!

[@niceguy6837]

Who do u sell to?

[@leiphasw]

Private sales are private. I have never given or received a paper receipt at my coin shop. He doesn't even know my real name. He only knows my nickname: 'ziploc'. Because I always show up with my fanny pack containing ziploc bags each holding $1000 cash and I leave with the fanny pack containing an equal value of gold and/or silver.

[@foreignerescapestothephi-lj3ls]

@@niceguy6837 When Iived in the states I sold to Monex and APMEX. Here in the Philippines I sell to goldsmiths or direct to the bullion bank. My buyer has direct access to the “Gold Souk” buyers in Dubai. But you never get spot prices. It’s always around $200 per ounce below spot. All cash and no tax or questions asked.

[@foreignerescapestothephi-lj3ls]

@@leiphasw And why is it still “private”! Because that’s the way the super rich want it with gold and silver transactions! Otherwise it would be taxed and documented and tracked etc! The new system will be blockchain and NOTHING will be private. It will ALL be tracked, traceable and public! IF you take the “mark”? Otherwise you’ll be illegally in the black market for Everything!

[@CDMaclintock]

I'm now buying Pre 1933 $20 Gold liberties, and Summit doesn't sell them, and I always sell amounts lower than which need to be reported - period.

[@Maunzies]

In my country gold is tax free to buy in certain coins and bars. If you hold it longer than a year it is also tax free to sell. Every transaction over 10k requires an ID. The US system sounds complicated

[@TheOnlySaneAmerican]

What country? At first your situation sounds ideal. But I would like to know the whole story like what are you taxes like? What is the currency, what is the economic benefits of living in your country etc.

[@johnhiggins8027]

I remember my first gold purchase in 2021, a 1/25 gold philharmonic. Haven't looked back since.

[@superstar5123]

1/25Th?! Talk about fractional. 25 of those in a hand would be nice

[@66block84]

I buried mine in my brother's back yard, but I have four brothers, so good luck.

[@66block84]

@@stevexracer4309 She would disagree, but nice try.

[@ferebeefamily]

Thank you for the video.

[@2is1gold]

Thanks for watching!

[@TheSilverCrownNaturalGreyHair]

Sell it BEFORE it hits the $10,000 mark. 9 something sounds good IF you can find a buyer at that price!

[@5FiveGz]

Thanks for the information; much appreciated!…

[@2is1gold]

🤜🤛

[@victorfrankenstein50202]

Drooling now 🤤 staring at your Eagles 🦅. Really getting frustrated with the high price, but I do have about $335 in cash back bucks. I guess it would make sense to buy another 1/4 oz for about $743 cash/check, costing me only about $408 outta pocket, but I can get a free 1/10 oz for about $300, and get change back (like at McDonalds). Anybody have thoughts about what they would do here???

[@Grams_]

I’d get the 1/4 and skip McDonald’s

[@henrynopez]

the 1/10th oz gold eagle is only slightly larger than a nickel

[@victorfrankenstein50202]

I really don’t have any spare cash right now (thanks to Bidenomics), so my most likely outcome is to go for the FREE Gold 1/10. I mean, when you think about it, who doesn’t want some FREE Gold?

[@bigdogs-29]

I am going to hit REWIND and REPEAT of this video over and over and over and over and over…to ingrain this into my head…StackOn!!!

[@2is1gold]

🤜🤛

[@Slim1962]

The dollar amount may have doubled on your gold coin but your purchasing power is the exact same many many years later so you haven’t came out ahead. The irs is the only one who comes out ahead. Follow your laws.

[@Loader7272]

Exactly....a hidden tax.

[@bradleyozbun1012]

💯 to you 2 is 1 ! Solid take !!

[@erichammond2466]

Interesting topic...no comment

[@markh1324]

A good topic to revisit/refresh our understanding.

[@MarcoEmeryLinden]

The government is awful.

[@brianb6957]

Yes. It needs to be abolished. Immediately.

[@BomalNeloAnagrm300]

What you said about 30 years from now and gold at $10k--right there is an argument for fractional. (Wrote this before you said it, but still want to make/agree with your point.) Because if $10k triggers the form 8300 (or whatever form in whichever country one is in) then wouldn't it be better to have some gold that you can sell that WON'T trigger the forms? Also, I just checked and in Canada, our gov't doesn't consider anything under 1 oz. to be investment grade bullion and it doesn't have to be reported. (Perhaps I'm misinterpreting what I read, but it seemed pretty clear.) Another reason for buying fractional. Whew!

[@SilverTruther]

Sadly my stack was lost in a boat accident 😢

[@soo__Suave]

There is no sense in complaining about taxes that’s not going to change. Real assets still out way paper money anyday

[@sackustwilight6957]

Have a few gold dentures made and deduct the cost from taxes

[@plumtree1846]

Those darn taxes...I wonder, if two friends each gifted a stack of eagles to each other, would that change the taxes due? Would it restart the capital gains clock? Sort of like a variation of that movie 'Strangers on a Train', but nobody gets killed.

[@SteveScantling]

Open an account today, Summit metal thanks for the information. Think it’s gonna be a good place to purchasethe Gold Silver.

[@oldarkie3880]

Capital gains tax is a tax on inflation. I should not have to pay tax on just trying to stay even. Especially when the government is responsible for inflation in the first place.

[@danielbbq]

Im a big component of spend your gold, don't sell it. I take my buffalo to my depository and load it onto a visa debit card if i need cash. Its way easier

[@roundhousemusic1627]

Coolest Gold video's on KZbin!!!!

[@2is1gold]

Thank you!

[@danielbbq]

I used to live in Asia. I saw people walking into the bank with tens of thousands of dollars every day

[@jetboy770371]

What about 1 oz gold bars with serial numbers ? Are they going to be a problem to get rid of ? I want to buy more, should I make several purchases under $10,000 or $30,000 one time ?

[@MHollywood5]

I feel like if the big players are making articles about prices stay away. They are not your friend, they want the money. They will tank prices short it and we will get get stuck with the rest.

[@ConnerWild]

Tax file at 10k in bullion, legal tender coinage file at 1000$ face, junk 30k or eagels 40k, gold 55k, platinum coin taxes sucks at 10k

[@Nordy941]

If you a bank with a duffel bag full of hundred dollar bills to buy a house and they treat you like a criminal you need to go to a different bank. Having cash is not a crime it’s not suspicious simply put the bank has alternative motives.

[@tcwrench]

What's the story with the cards? Super cool deck!

[@yosef-y6p]

I was under the impression that the form 8300 was only for businesses that sell and receive $10,000 or more in cash and that individuals are only required to pay capital gains taxes on the gains when they file form 1040 and the accompanying Schedule D. Perhaps someone can help me sort this out? Not that I will be selling since the unfortunate boating accident of course.

[@2is1gold]

If you read the requirements for a form 8300, it seems like there's room for interpretation, but all coin shops will issue the form to you as an individual if they're paying you $10k or more. You are then required to self-report the gains.

[@yosef-y6p]

That makes sense. Thanks.

[@christophermccormick8670]

Thanks for recommending Summit Metals. Totally scored today.🤙🏽

[@2is1gold]

Happy to see that! 🔥

[@acespector]

GOAT. Thank you for the video!!

[@2is1gold]

Cheers!

[@mattcorriere9039]

I have coins I bought in 2012 and coins I bought yesterday. How do I know which coin I sold? It's pretty difficult to track. Just saying.

[@edb3877]

Not if you treat it like a business and keep complete records. Without those records, the IRS is likely to assign a value to the coins you sell and they likely would set the basis at zero, since there is no proof to the contrary.

[@texdevildog9174]

Cost basis is at the time of death.... So, I should sell gold when a relative dies and they {wink-wink} left me some gold coins.

[@kylebrooks4147]

VERY INFORMATIVE. THANK YOU. USEFUL INFORMATION HERE.

[@danielcaissie1207]

Dame I wish I had that boating info before I went boating lol😅

[@2is1gold]

Tragic

[@danielcaissie1207]

@@2is1gold 🤣

[@shauncorless8965]

Was buying gold when it was 200 dollers a oz family and friends said i was nuts ,,put it in the bank earn 2% intrest if your lucky ,,there all struggling and im absolutely rich 😅😅😅,anyone not buying knows nothing of history or economics 😮

[@syovar1]

$675 in 1/4 gold coin covers utilities and gasoline for a month...

[@geckster109]

It's hard for me to imagine you would be stuck with a $0 cost basis if you had lost all of your receipts in a flood or fire for example. And no, im not being cute, I am talking about an actual destructive event that you endured. Are you sure thats what will happen? Or would you be able to estimate a cost basis?

[@edb3877]

What one really needs in this is a record of some type that shows the date of a sale, transaction, or trade. In the case of gold, the IRS very likely would accept the closing gold price on that date as the value of the gold, silver, or what have you. If you are selling, then you would need a similar record of the price paid for the gold or other item. Such prices are not difficult to look up these days, so these numbers can be verified. I just skip all that and record every buy of gold and silver I've ever made in a spread- sheet. Another sheet in the spreadsheet will list all of the sells, price received, time, person who bought it, etc. Paying tax in a pain in the neck, no doubt. But getting caught purposefully evading paying the tax due is a MUCH bigger problem. The US Gov does not look kindly upon those who do this... unless they are politically connected, of course. 😲

[@hemlo7494]

APMEX for instance keeps a record of sales on their website. You can get the sale info from there.

[@Juan_Doooh]

K so that covers bullion. Would pre33 be treated differently as far as taxes are concerned?

[@natlmidnightstar]

It is my understanding the foreign reporting rule only applies to South African, Canadian and Mexican gold. I think those were the only mints making them at the time the law was written. That makes Brittanias, Kangaroos and other foreign mints more attractive, at least for reporting, in my opinion. The capital gains taxes on gold and silver are ridiculous.

[@2is1gold]

You're correct. The law wraps up the (far and away) most popular coins. I was concerned the law would be updated to include the other mints, but I'm starting to think it's just one of those old/scary laws nobody wants to address.

[@natlmidnightstar]

@@2is1gold I believe you are right. Thanks for posting this video. It serves as a reminder to contact my senators about getting capital gains taxes removed from selling real money!

[@Pat_Smith778]

Stay strapped or get clapped. --Sun Tze

[@2is1gold]

Checks out.

[@bhargi4692]

No lies detected!

[@edb3877]

You sure that wasn't "Gun Tsu"? 🤣

[@Knife_Collector]

To your knowledge, are coins like the First Spouse $10 coins reportable?

[@2is1gold]

They're the same as anything from the U.S. Mint. No 1099-b possible. Cheers!

[@charlieflores9963]

So I should not buy the Maple and Britannia on my wish list? Sounds like I should stick to Buffalo’s and Eagles. Just want to make it easy for my kids when they get it.

[@bo_dink]

I sold all of my foreign gold & converted it to Eagles & Buffalos for this very reason concerning tax reporting.

[@2is1gold]

A few of anything is fine. I have more than a few Maples. You just can't sell them in bulk here without a 1099-b filing.

[@SilentWayFarer1]

What is the “boating accident” joke people keep saying? Is that some way to make your gold disappear so you don’t have to pay taxes?

[@Knife_Collector]

It's the same as the government ever banning and confiscating firearms. They went down with the boat.

[@Robert-fx3ng]

A lot of gun owners tend to lose their firearms in boating accidents. When asked about your guns or gold by the government, make them prove you still possess them.

[@Knife_Collector]

Don't know why KZbin keeps deleting comments... you post one, and it's gone.

[@SilentWayFarer1]

@@Robert-fx3ng I thought it was something like that. But why does the govt care how much gold you have? I thought they only care when you sell it to make sure they get their taxes

[@johnburnett5377]

​@@SilentWayFarer1 in the 1930s, most gold coins were confiscated by the US government.

[@Mark-ez2vw]

Digital silver in a digital age, litecoin is a digital precious metal, not a security. Litecoin is the oldest coin on the market after bitcoin, since its inception in 2011. The scarcity of litecoin is the key feature of its technology. Everyone tends to flock to digital silver and digital gold, litecoin, and bitcoin, when things aren't going well. Litecoin is a decentralized digital commodity, just like bitcoin, but not even close so heavily concentrated in a few hands like bitcoin is. Both have Proof-of-Work consensus, and both have a limited supply of coins. Only that litecoin is lighter, swifter, and hugely undervalued against bitcoin. Litecoin (LTC) being a digital commodity provides a decent inflation hedge as well because there will be mined only a limited number of 84 million litecoins in total.

[@nlb2000]

Oh damn I paid $20,000 an ounce….im always gonna be taking a loss 😂😂

[@TinoGomez-eh7cc]

Never sell your gold or silver. Borrow a loan against it.

[@shawndiesel007]

Great idea in theory, but the lender will demand higher than the inflation rate...although that may still be well under the rate metals are climbing... so great idea!

[@Frd4Lf]

Gold is going over 3000 this year. 🏆

[@russelbrown6275]

I believe that however it’s going to plateau and then drop as far back down to $2500ish, to shake out investors, then it will rocket back up and higher! Don’t sell and hold on no matter what. They are going to make it bad to break people into selling their gold. Don’t it will be more valuable than you ever imagined.

[@Frd4Lf]

@russelbrown6275 I think it's going to 5000. It's been undervalued for to long and is just catching up.

[@kaku00]

Does pre33 get taxed the same way?

[@ronaldellis3229]

Bottom line, keep it close to your vest !

[@williamfender661]

I only buy 1/10th ounce proof American gold coins. Nothing less and nothing more. Same with silver, American only.

[@AY-qf4pg]

In your Will, send your children to Switzerland with the gold 😎

[@tannerstull6490]

What’s this about a boat?

[@jamesvelvet3612]

I get to pay sales tax on every single gram of PMs I buy. Yay! Note that you can dump those monster boxes of silver you have stacked in the closet and turn them into gold without paying a penny in capital gains taxes. Do a 1031 Like-Kind Exchange (exchange your silver for gold at one of the big dealers) and any capital gains are deferred. You can defer those capital gains and likely never pay them (!). When you croak, your heirs will get a new step-up basis (market value at time of your demise). They can then sell and pay zero taxes. Sooooo contrary to popular belief, it isn't Death and Taxes it is only Death that everyone has to worry about. Note that big-brained people use the same exact 1031x rules to build generational wealth (and never pay ANY capital gains) using income producing Real Estate: Buy property, sell (using 1031x rules) and pay zero on the profit by plowing every penny into another property. You're welcome ;-)

[@silvercobra0923]

SILVER & GOLD..🤩🤩 RUN BABY RUN 🤩🤩 & RUN & RUN & RUNNNNNN 😊

[@JBo7777]

What happened to SD Bullion? Why Summit Metal? Do they have better premiums?

[@edb3877]

SDB is still alive and well but are not sponsoring this channel.

[@bc_usa]

I would just show up everyday and sell under 10k if I was trying to unload alot of metals. 🤔😁

[@3B-TM]

Tax laws for gold and silver should not apply because US constitution says only gold and silver coins are used as money 💪😎👍🙏🇺🇸💰

[@brianb6957]

True dat. They don't care about the Constitution. If they did, we wouldn't have to deal with the unconstitutional Federal Reserve or the fraudulent IRS.