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Anyone own physical Gold?

  • #141
  • Jul 4, 2019 5:38pm Jul 4, 2019 5:38pm
Quoting auricforecas
Guys, I do not want to promote anything but this Vienna Philharmonic coin seems to be of good value... Because... it is a legal TENDER! It has EUR VALUE (although much lower than the price in gold - but it is very/legally liquid in case of an extreme emergency - great value!), it is traded VAT FREE! It comes from one of the most respected mines in the world, it is themed by the prestigious Vienna Philharmonic, so it might also have a good collectors/historic value over time......
I’m pretty sure Europe is the only place that hits you with VAT anyway though. And US American eagles, Canada maple leafs etc coins are legal tender in the same way.
careful not to step in a pile of it
  • #142
  • Jul 4, 2019 5:50pm Jul 4, 2019 5:50pm
Quoting bulltrap
{quote} I’m pretty sure Europe is the only place that hits you with VAT anyway though. And US American eagles, Canada maple leafs etc coins are legal tender in the same way.
Thanks! Good... But I find this somewhat disturbing "For example, if you "buy" a Gold Eagle and sell it at a profit, you may incur a tax burden on the difference. However, if you are "paid" with a Gold Eagle and then use it to "buy" something else, you cannot be taxed on the transaction, even if the coin appreciates in metallurgical value in the interim.[4][5]"
https://en.wikipedia.org/wiki/American_Gold_Eagle
https://www.orobel.biz/information/n...on-s-countries

In my country for example, we have no tax on selling gold/silver in physical form...
We are heavily taxed but there are some sweet exceptions (I suspect because there is not much volume in this, if there would be things might change rather fast)

But yeah, since I would have/suggest it just for an emergency... the SALE tax might not be a problem (at the time even at countries that have a good tax for selling it.
Can you afford to take that chance?
  • #143
  • Jul 4, 2019 9:11pm Jul 4, 2019 9:11pm
Quoting auricforecas
Guys, I do not want to promote anything but this Vienna Philharmonic coin seems to be of good value...
This one is known as one of the better bullion coins. Vote for it, we have a poll! https://www.metalsmine.com/showthread.php?t=924495
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #144
  • Jul 5, 2019 1:13pm Jul 5, 2019 1:13pm
Quoting EventsTrader
{quote} This one is known as one of the better bullion coins. Vote for it, we have a poll! https://www.metalsmine.com/showthread.php?t=924495
Another benefit to the Austrian Philharmonic is that it does not require any 1099 reporting.
If you have faith in our leaders of commerce, don't buy gold.
  • #145
  • Jul 5, 2019 1:17pm Jul 5, 2019 1:17pm
Quoting auricforecas
{quote} Thanks! Good... But I find this somewhat disturbing "For example, if you "buy" a Gold Eagle and sell it at a profit, you may incur a tax burden on the difference.
Since selling a Gold Eagle to a dealer does not trigger IRS reporting I doubt the tax man is going to know if you fail to report the profits from that sale in your taxes.
If you have faith in our leaders of commerce, don't buy gold.
  • #146
  • Jul 5, 2019 9:37pm Jul 5, 2019 9:37pm
Quoting 676f6c64
{quote} Another benefit to the Austrian Philharmonic is that it does not require any 1099 reporting.
Quoting 676f6c64
{quote} Since selling a Gold Eagle to a dealer does not trigger IRS reporting I doubt the tax man is going to know if you fail to report the profits from that sale in your taxes.
It's a great reason, and a big factor for why some are attracted to physical precious metals. Unless you're buying huge amounts, nobody is reporting anything to the IRS. There's a threshold. That's the only way the bullion dealers would want to report it to the government. I found to different tables with the same information, so I think this is accurate:
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676f6c64, you buying enough to worry about reporting it? All I have to say to you sir is:
Attached Image
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #147
  • Jul 8, 2019 10:48am Jul 8, 2019 10:48am
Quoting auricforecas
{quote} Thanks! Good... But I find this somewhat disturbing "For example, if you "buy" a Gold Eagle and sell it at a profit, you may incur a tax burden on the difference. However, if you are "paid" with a Gold Eagle and then use it to "buy" something else, you cannot be taxed on the transaction, even if the coin appreciates in metallurgical value in the interim.[4][5]" https://en.wikipedia.org/wiki/American_Gold_Eagle...
Oh wow, some of this info was news to me but I do also agree with the other guys that chimed in. It all depends on what your investment levels are and whether they will be "material" to report to the IRS anyway.
careful not to step in a pile of it
  • #148
  • Jul 8, 2019 5:50pm Jul 8, 2019 5:50pm
Quoting bulltrap
{quote} Oh wow, some of this info was news to me but I do also agree with the other guys that chimed in. It all depends on what your investment levels are and whether they will be "material" to report to the IRS anyway.
Yeah and also... I personally believe that gold is for BUYING (to hold, have reserve, wear... and if/when you would be (maybe) forced to sell it.. The main concern would be to survive... Some advise to have (some of it) stashed "somewhere else"... like in another country... That would be the real "GEO backup" or HEDGE against certain things/events because of it we would need to have GOLD (reserve) in the first place I already mentioned one good book... "survival blueprint"...
Can you afford to take that chance?
  • #149
  • Jul 8, 2019 7:11pm Jul 8, 2019 7:11pm
Quoting auricforecas
Some advise to have (some of it) stashed "somewhere else"... like in another country...
Definitely agree that it is good to store "somewhere else" but I can't trust a significant amount of my gold holdings overseas! I prefer to keep that stuff closer to home.
  • #150
  • Jul 9, 2019 4:27pm Jul 9, 2019 4:27pm
Quoting auricforecas
The main concern would be to survive...
I think you are going to be in for a surprise when you try to eat your gold for survival.
If you have faith in our leaders of commerce, don't buy gold.
  • #151
  • Jul 10, 2019 9:44am Jul 10, 2019 9:44am
Quoting 676f6c64
{quote} I think you are going to be in for a surprise when you try to eat your gold for survival.
This is a very good point...Gold is (at least at this point) not as liquid as cash. But when the tough times hit...I'm anticipating that its liquidity will be far better. Most of us (myself included) are not "end-of-world"ers, or "prep-ers" but simply want to use Gold as a base (or store) of value. The same could be said for unencumbered land (property that is mortgage free). With this one could "eat" your own produce assuming you have the will, know how, and strength to plant a simple garden. (You'd be surprised how many don't). And if you already have these skills and the land...why not do it now? Just to live a more healthy life.

Sometimes I have to wonder if the "obsession" with Gold is a little misplaced and that perhaps the greater store of value would be your own "castle" that is free of any debt and the ability to simply exist in a self sufficient manner and let the rest of the world do what it want, while I live peacefully with no allegiance to anyone or anything...even Gold.
@xxxx§|[::::::::::::::::>
  • #152
  • Jul 10, 2019 1:34pm Jul 10, 2019 1:34pm
Quoting DonPato
"castle"
Sounds like maybe you should move to the Principality of Sealand

Agriculture may be limited; I hope you like:
If you have faith in our leaders of commerce, don't buy gold.
  • #153
  • Jul 10, 2019 2:13pm Jul 10, 2019 2:13pm
Quoting DonPato
{quote} Sometimes I have to wonder if the "obsession" with Gold is a little misplaced and that perhaps the greater store of value would be your own "castle" that is free of any debt and the ability to simply exist in a self sufficient manner and let the rest of the world do what it want, while I live peacefully with no allegiance to anyone or anything...even Gold.
I wonder why obsession also... It doesn't seem very rational if you think it through logic.
There was one chemist that exlained to me how many metals are far more valuable and usefull, I think he mentioned Iridium for example...
He was very against gold (hype)...

I think about it sometimes... It is either there is something we "feel" is about it or we are just programmed that way by society.. OR we have it in our DNA.. to like it for some reason

Also there was one surgeon that gave me some good argument... He said, haven't cross-checked it but I think it might be very close to the truth, that.. noone is alergic to gold! Ok I have just googled it quickly.. it seems that there is allergy to anything, even gold but... it is extremely rare... Why I find this useful is that... as implant industry/solutions are increasing... it is good to know that should we need implant(s) - most probably will, gold is the preferred metal...

About the EATING it part... there are theories about that also Golden dust/extracts or something, some say Trump eats it BTW I seriously suspect he must be on some type of juice/secret, very energetic for his age Ok so about eating... In case of real "situation"... what is better then? If you have garden, I wouldn't assume people will just let you have it while they are hungry for example... Basically there appears to be 2 popular choices when sh.. hits the fan.. Either you build self-efficient home with enough CAN foods to last you for up to GENERATION (yeah, google it up, some people have that also) or at least 3months.. OR to have something that is universally acceptable world-wide and RUN like hell to the safe heaven.... Because as history shows there are always safe heavens somewhere... that is why we seem to survive so long And If I would bet on anything... I would bet that this SAFE heaven would welcome GOLD best
Can you afford to take that chance?
  • #154
  • Jul 17, 2019 3:20am Jul 17, 2019 3:20am
Quoting 676f6c64
{quote} Another benefit to the Austrian Philharmonic is that it does not require any 1099 reporting.
Did not know that.

You must be an accountant!
  • #155
  • Jul 17, 2019 10:35am Jul 17, 2019 10:35am
Quoting auricforecas
{quote}It is either there is something we "feel" is about it or we are just programmed that way by society.. OR we have it in our DNA..
Programming - 100%!
If in doubt, paddle out!
  • #156
  • Jul 17, 2019 11:41am Jul 17, 2019 11:41am
Quoting SurfsUp
{quote} Programming - 100%!
I'm not that sure because it seems to be the constant all over the world (as far as I know) and through all of the (recorded) human history...
Can you afford to take that chance?
  • #157
  • Jul 17, 2019 12:09pm Jul 17, 2019 12:09pm
Hello!

How i store my money?

My favorite way to store money is real-estate for one reason :You can rent it and earn additional income while keeping your investment generally unchanged(some apreciate, some depreciate). Most of my real estate is for rentals (tourists or all year around), but i also own some empty construction land and farming land away from the city.Perhaps one day i'll think of a project to make here, but right now, it's just sitting there and apreciating like crazy!.. good way to store capital.

I do own physical gold, as for keeping it, i left that to a private company in Switzerland, it's tucked away in a vault away from the world and i'll only access it if i ever need it. It's always good to have a reserve if you can afford it.

Jewelry wise, i don't personally own a lot. I've got a really nice watch collection (if you call that jewelry), but other then that and my woman's jewelry, i don't own any as an investment.

I'm currently working on a project to get suffinancing from EU for building 3 vertical farms at different locations that use only solar and wind power, but at the moment, i don't have any energy investments.


----------------------
Net worth %

As for my net worth: 40% is in real estate & land, <0.01% is in watches&jewlery, around 7% is in gold, 30% in cash and 5% is in cars & boats and 18% is in various investments/projects/small buisnesses (that i'm only an investor in). And i do hope that soon a good portion of my net worth will be in the vertical farms project.

--------------------

How do you plan to convert your assets back to cash?

Well, nearly all of my assets provide a solid revenue and bring cash back, that cash is mostly reinvested in real- estate or the asset itself. I belive that most of my assets can keep generating money even in a crisis, therefore i'm not worried about that...

However, if i would need to convert them back into cash, this is how i'd do it:

For the land, i'd sell it (even under the price if needed) and it's really easy to find a buyer for the land that i own, as it's at a very lucrative tourist area.

For the gold- easy, the previously mentioned company sends you cash within 24 hours, and they have tens of billions in reserves.

The thing is, i don't look at my assets as assets, i just look at them as a way to store cash, for me, all of that IS ALREADY cash, and i can sell it at any point, but why would i? If i have a few million in a bank, i get nothing, but this way i get a huge passive income with little to no work. Ofcourse if i were to run short on cash i'd act.

Real estate is essential for living, everyone needs a home, therefore, even in a crises, the renting buisness can continue to do well.
Through the light of enlightenment, darkness unveils the path of truth.
  • #158
  • Jul 17, 2019 12:18pm Jul 17, 2019 12:18pm
Quoting auricforecas
{quote} I'm not that sure because it seems to be the constant all over the world (as far as I know) and through all of the (recorded) human history...
Nothing inherently gives it the value....at some point way back in human history someone picked it to be valuable. The rest is passed down socially. imo.
If in doubt, paddle out!
  • #159
  • Jul 17, 2019 12:19pm Jul 17, 2019 12:19pm
Quoting Vorenzd
Hello! How i store my money? My favorite way to store money is real-estate for one reason :You can rent it and earn additional income while keeping your investment generally unchanged(some apreciate, some depreciate). Most of my real estate is for rentals (tourists or all year around), but i also own some empty construction land and farming land away from the city.Perhaps one day i'll think of a project to make here, but right now, it's just sitting there and apreciating like crazy!.. good way to store capital. I do own physical gold, as for keeping...
Man, one of the best threads Real "school-case" on how to PRESERVE wealth be rather LIQUID at the same time... PASSIVe incomes, low fix and all...
Yeah, If you I would choose like 3 types of investments/assets/wealth_PRESERVERS... I would choose... REAL MONEY aka GOLD... physical, electronic and/or in stocks... Then CASH (for being LIQUID purposes among many...) and thirldy.. but not lastly... I LOVE THE LAND... Amazing QUOTE... from a "genius" (but yeah, he "was", just chose to use it in that way

The only problem with land that I am having is this economic uncertainties... but hey... among other alternatives... LAND is like constant... similar to GOLD.. just that the gold is much more mobile and liquid... But again, thumbs up for you portfolio and RICH person mentality
Can you afford to take that chance?
  • #160
  • Jul 17, 2019 12:27pm Jul 17, 2019 12:27pm
Quoting Vorenzd
Hello! How i store my money? My favorite way to store money is real-estate for one reason :You can rent it and earn additional income while keeping your investment generally unchanged(some apreciate, some depreciate). Most of my real estate is for rentals (tourists or all year around), but i also own some empty construction land and farming land away from the city.Perhaps one day i'll think of a project to make here, but right now, it's just sitting there and apreciating like crazy!.. good way to store capital. I do own physical gold, as for keeping...
Solid plan there Vorenzd!

Quoting Vorenzd
However, if i would need to convert them back into cash, this is how i'd do it: For the land, i'd sell it
One thing I really like about real estate is you can turn it into cash just by getting a mortgage. That way, if you find yourself in a situation like March 2009 when equity prices were mindbogglingly low you could get 4% mortgage and load up on stocks. You'd pay a little on the loan's origination fee and interest, but you'd get a huge return in exchange for it. Sure its risky, but a good way to temporarily lever up if market conditions warrant.
Self-sufficiency is the greatest of all wealth. - Epicurus
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