Home› Precious Metals
Options

Please, please don't tell me Gecko is right. Again.

WeissWeiss Posts: 9,935 ✭✭✭✭✭
in Precious Metals
With the new proposed $600 reporting laws, it *seems* to be prudent to own at a maximum 1/4 ounce gold coins (which would allow gold to rise to ~$2400 an ounce) and 10 ounce silver bars if not 90% or 1 ounce coins/bars/rounds (which would allow silver to rise to ~$60 an ounce) before triggering single-sale reporting.

Anyone want a 10 ounce bar of gold or a few 100 oz bars of silver? Cheap? image
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • Options
    gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Weiss, AMPEX should swap them out for 1/4 oz AGE's?
    Avid collector of GSA's.
  • Options
    WeissWeiss Posts: 9,935 ✭✭✭✭✭


    << <i>Weiss, AMPEX should swap them out for 1/4 oz AGE's? >>



    ...or maybe the Cap'n?
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • Options
    OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,301 ✭✭✭✭✭
    I would appear that 1/10 AGE, 1/4 AGE and $5 gold pieces will become somewhat more popular after the regime's new rule kicks in in 2012.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • Options
    ZubieZubie Posts: 1,160 ✭✭✭✭
    is this really going through? It sounds like it will get pulled out of the bill?

    If not, I agree, might be a good idea to swap out some big bars to 1/10 gold ealges and 1 or 5 oz silver bars!
    Positive BST Transactions with:
    Overdate, BestMR, Weather11AM, TDEC1000, Carew4me, BigMarty58, Coinsarefun, Golfer72, UnknownComic, DMarks, JFoot13, ElKevvo, Truthteller, Duxbutt, TwoSides2aCoin, PerryHall, mhammerman, Papabear, Wingsrule, WTCG, MillerJW, Ciccio, zrlevin, dantheman984, tee135, jdimmick, gsa1fan, jmski52, SUMORADA, guitarwes, bstat1020, pitboss, meltdown, Schmitz7, 30AnvZ28, pragmaticgoat, wondercoin & MkMan123
    image
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭


    << <i>is this really going through? It sounds like it will get pulled out of the bill? >>



    It's already gone through and it's no longer a bill. It's now law!!! Don't forget to vote in November.

    Worry is the interest you pay on a debt you may not owe.

  • Options
    BBNBBN Posts: 3,761 ✭✭✭
    Been buying 1/4 ouncers. All I have now. If gold ever creeps up to close to $2,000 I'm trading the quarters for 1/10 ouncers.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • Options
    1jester1jester Posts: 8,638 ✭✭✭
    Voting everybody out in November may be the only way to stay this oppressive regime. The constitution guarantees that our property can't be taken away without due process and in the case of eminent domain we must be duly compensated for it. This includes our time. How is it that we must be forever held hostage to bureaucrats by being forced to prove how much we pay for something and when?! When are they going to pay us for our lost time and expenses in keeping such records? Why do we continue to allow such outrages perpetrated on us?

    imageimageimage
    .....GOD
    image

    "Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9

    "Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5

    "For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
  • Options
    BBNBBN Posts: 3,761 ✭✭✭
    I still firmly believe that the govt' is wanting to monitor and find out who has what as far as PMs. Gold will be a great way to repay China and a great way to repay is to have another 1933 confiscation and the govt' can prevent cashing in its Ft Knox holding. As compensation for confiscation the govt would issue T-bills and T-notes. China loves its gold and what better way to repay China when you're broke than to rob Peter to pay Paul and then tell their own citizens they didn't get robbed. Just given a different investment.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • Options
    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Voting everyone out is not a solution unless the replacements are cut from entirely different molds than the incumbents. A difficult task indeed to get those type of people on the ballots, and then to actually vote them in to national office.

    Don't worry about those 100 oz silver bars. You'll have the rest of 2010 and all of 2011 to exchange them for smaller bars or 90%. And then as silver approaches $60/oz the 10 ouncers can be traded in for 1 ouncers and 90%.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Options
    57loaded57loaded Posts: 4,967 ✭✭✭
    1/10 ounce Au is all i'm salting, now.

    and 90% Ag

    oh, it WON'T get kicked, remember there is a lot of dancing about the bill being another way to 'redistribute' wealth. an evil way to disguise a TAX (IMHO)

  • Options
    JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    Hopefully the Capt will keep us informed if the premiums on the small ones jump dramatically on any given day in the near future.......MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Options
    BBNBBN Posts: 3,761 ✭✭✭
    Here's a question, will 1/10 ounce golds fit in plastic dime tubes? I guess I'm just wondering what the diameter of the 1/10 is compared to a dime.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • Options
    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭


    << <i>Here's a question, will 1/10 ounce golds fit in plastic dime tubes? I guess I'm just wondering what the diameter of the 1/10 is compared to a dime. >>



    A dime is 17.91 mm, while a 1/10 eagle is only 16.5 mm.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • Options
    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭


    << <i>Hopefully the Capt will keep us informed if the premiums on the small ones jump dramatically on any given day in the near future.......MJ >>



    Will do. Of course, you might want to think about buying them BEFORE the premiums increase.
    Just a thought.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • Options
    BBNBBN Posts: 3,761 ✭✭✭


    << <i>

    << <i>Here's a question, will 1/10 ounce golds fit in plastic dime tubes? I guess I'm just wondering what the diameter of the 1/10 is compared to a dime. >>



    A dime is 17.91 mm, while a 1/10 eagle is only 16.5 mm.
    TD >>




    sweet. these things can be stacked in a dime tube then. thanks image

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • Options
    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Here's a question, will 1/10 ounce golds fit in plastic dime tubes? I guess I'm just wondering what the diameter of the 1/10 is compared to a dime. >>



    A dime is 17.91 mm, while a 1/10 eagle is only 16.5 mm.
    TD >>




    sweet. these things can be stacked in a dime tube then. thanks image >>



    Surely!
    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • Options
    CiccioCiccio Posts: 1,405 ✭


    << <i>

    << <i>

    << <i>Here's a question, will 1/10 ounce golds fit in plastic dime tubes? I guess I'm just wondering what the diameter of the 1/10 is compared to a dime. >>



    A dime is 17.91 mm, while a 1/10 eagle is only 16.5 mm.
    TD >>




    sweet. these things can be stacked in a dime tube then. thanks image >>



    I would prefer their own tubes, they look nicer then the standard ones.

    image
  • Options
    AboutAgAboutAg Posts: 201 ✭✭


    << <i>I still firmly believe that the govt' is wanting to monitor and find out who has what as far as PMs. >>



    Great theory, but there are two flaws. One is that the government won't know for sure what was sold (even if they know that Joe's Coins buys bullion from customers, they don't know whether you sold a stash of wheaties, gold, or cardboard boxes). The second is that they only find out when you sell, so if you sell your entire stash (as many people would do), the government will just know that you once owned PMs.
  • Options
    gecko109gecko109 Posts: 8,231 ✭
    When I began my transformation of larger sized gold into strictly 1/4oz AGEs, there were several factors in my decision making process. None of those factors was to duck or dodge any tax reporting laws. The main reasons....in order of importance...are listed below:

    Get uniformity into my stack with a commonly available, easily tradeable unit.

    Get rid of gold encased in mylar or plastic....I want to feel metal on skin.

    Get a size that almost anyone can afford to buy without needing a layaway plan.


    So by following preference #3, a nice side effect is that the current POG allows for the sale of this sized piece of gold to slip under the radar....if thats what one chooses to do of course.image Weiss, I deserve no credit for going small for the reason you assume. But even a blind squirrel does dig up a nut occassionaly!
  • Options
    derrybderryb Posts: 36,216 ✭✭✭✭✭


    << <i>Why do we continue to allow such outrages perpetrated on us? >>



    I believe the citizens of Bell, CA have had enough:

    Mish

    Give Me Liberty or Give Me Debt

Sign In or Register to comment.