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Saints for silver??

heavyd4848heavyd4848 Posts: 35
in Precious Metals
i have 2 ms64 $20 double eagles. i guess i'm more a shtf guy than a collector. if i sell on ebay,at what these(1909s &1924) are selling for,i'd make about $1200 profit.wouldn't it make sense to sell these and maybe buy 90% junk or bars & rounds while i know i can get the big pricefor the gold??

Comments

  • dbcoindbcoin Posts: 2,200 ✭✭
    yes. The premium on these is really high
  • fcfc Posts: 12,793 ✭✭✭
    go for it!

    even if gold goes up to 1200 stable over the next years... premiums will come down
    eventually and you can buy them back for less then you sold..

    that is my guess.
  • Weather11amWeather11am Posts: 2,040 ✭✭✭
    Go for Ag!
  • PerryHallPerryHall Posts: 46,085 ✭✭✭✭✭
    Go for it. The premiums for Saints are unreasonable and unsustainable IMO.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    That is a great move imo. Just remember that Uncle Sam will be expecting his share of taxes on the capital gains. You can't trade rare coins (or bullion for that matter) for bullion and not have to pay on the gains.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Another thought would be that if one traded MS64 Saints for circ Morgan dollars currently carrying about 2X premium to melt, that might be considered a trade for non-bullion and would not trigger a taxable event. Even choice XF/AU Walkers or Merc dimes at a 15% premium to regular 90% silver face might also work. But only a tax attorney or CPA could give or approve such a strategy.

    But one thing I feel is true......that with the large premiums now being assigned to Saints and $20 Libs (even the circ coins), they all fall back into the "rare coin" category once again.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • robkoolrobkool Posts: 5,934 ✭✭✭✭✭
    I recently sold a pcgs graded MS62 for about $1500... The premiums on these have gone through the roof.
    Ebay items for sale Current BIN's / The Kingdom Collection
  • jmski52jmski52 Posts: 22,798 ✭✭✭✭✭
    That is a great move imo. Just remember that Uncle Sam will be expecting his share of taxes on the $2400 in capital gains. You can't trade rare coins (or bullion for that matter) for bullion and not have to pay on the gains.

    This is true. But you also might consider selling something else along with the Saints - something that you have a loss in - that way you can offset some or all of your gains with the loss, and have a bit more money to buy silver with at the same time.

    Get rid of something that you've really wanted to sell but didn't want to admit that it was a bad deal from the beginning. Sell the losers and take the losses to offset your gain.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • sebrownsebrown Posts: 424 ✭


    << <i>That is a great move imo. Just remember that Uncle Sam will be expecting his share of taxes on the $2400 in capital gains. You can't trade rare coins (or bullion for that matter) for bullion and not have to pay on the gains. >>




    Why would you even claim it? It's not like it's a stock trade through a brokerage firm who in turn reports your trades to the IRS. I know it's the right thing to do, but I for one will not give the gov't one more Log Cabin Lincoln Cent than they already take, who then turns around and hands it to failing corporations that continue to lose billions.
    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭


    << <i>

    << <i>That is a great move imo. Just remember that Uncle Sam will be expecting his share of taxes on the $2400 in capital gains. You can't trade rare coins (or bullion for that matter) for bullion and not have to pay on the gains. >>




    Why would you even claim it? It's not like it's a stock trade through a brokerage firm who in turn reports your trades to the IRS. I know it's the right thing to do, but I for one will not give the gov't one more Log Cabin Lincoln Cent than they already take, who then turns around and hands it to failing corporations that continue to lose billions. >>



    This is probably what most folks do.

    They just don't admit it on a public forum! image

    Stack'em High!

    John
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • PerryHallPerryHall Posts: 46,085 ✭✭✭✭✭


    << <i>

    << <i>That is a great move imo. Just remember that Uncle Sam will be expecting his share of taxes on the $2400 in capital gains. You can't trade rare coins (or bullion for that matter) for bullion and not have to pay on the gains. >>




    Why would you even claim it? It's not like it's a stock trade through a brokerage firm who in turn reports your trades to the IRS. I know it's the right thing to do, but I for one will not give the gov't one more Log Cabin Lincoln Cent than they already take, who then turns around and hands it to failing corporations that continue to lose billions. >>



    sebrown---Be carefull. I wouldn't put it past a few of the forumites to report you to the IRS for the reward.



    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • Norseman88Norseman88 Posts: 962


    << <i>

    << <i>

    << <i>That is a great move imo. Just remember that Uncle Sam will be expecting his share of taxes on the $2400 in capital gains. You can't trade rare coins (or bullion for that matter) for bullion and not have to pay on the gains. >>




    Why would you even claim it? It's not like it's a stock trade through a brokerage firm who in turn reports your trades to the IRS. I know it's the right thing to do, but I for one will not give the gov't one more Log Cabin Lincoln Cent than they already take, who then turns around and hands it to failing corporations that continue to lose billions. >>



    This is probably what most folks do.

    They just don't admit it on a public forum! image

    Stack'em High!

    John >>



    Now would be a great time to trade from Saints into Silver!!!
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