What puzzled me is that there was really no photos to speak of or recognition that there WAS a coin involved in all this (that). Just drone about labels first strike signings slabs grades sales offerings flips etcetcetc. The "coin" had ceased to matter
<< <i>I'd like to hold for one year to get long term cap gains on sales >>
There is no preferential capital gain treatment of collectibles - hold it for an hour or a decade and the tax consequences are the same (sorry) >>
Is this the same for straight bullion (i.e., bars, rounds, etc.)? >>
Yes - all collectibles, including bullion. I need to clarify my first post a bit - short term gains on collectibles are taxed at the same rate as income. Long term gains are taxed @ 28%. So this has me thinking - if you are in the 15% tax bracket - according to the rule - you pay 15%. All other tax brackets pay 28%. So if you are in the 25% tax bracket ($69k-$129K taxable income for married filing joint) you could be penalized 3% for holding a year. You would have to have taxable income over $212K - the 33% bracket - to have any tax savings by holding the cons over a year. Guess the flippers are smarter than some people though
I'm officially out so I really don't want to know anymore. These sets help me towards my last two commem purchases. I'm grateful for this board and the knowledge of some of the modern savants.
THANK YOU! You guys rock. 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......
Comments
Oh Ya Baby
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Not much to talk about. Prices stable. Waiting for pcgs MS 70, $2000 sell price for 25th Anny.
All the negative posts about it, WTH, I don't care if the ASE subject is here or not.
Without the 25th anny threads this forum is kinda boring, IMO.
It feels like I own them all !!
Wondercoin
"Without the 25th anny threads this forum is kinda boring, IMO."
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This is a joke, right??
~
"America suffers today from too much pluribus and not enough unum.".....Arthur Schlesinger Jr.
<< <i>"Without the 25th anny threads this forum is kinda boring, IMO."
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This is a joke, right??
~ >>
Yep, tongue in cheek, I learn a lot from the posters here, hate it when other collectors interests are denigrated, my interests, especially.
<< <i>It was for an outsider a very interesting study in numismatic herd behavior. >>
Now the details come out. Glad I posted.
<< <i>Yep, classic example of a feeding frenzy.... Cheers, RickO >>
Please enlighten me to the ways of the feeding frenzy.
Your typical, standard one line post response is wearisome.
<< <i>partys at my place bring beer >>
Hope you don't have "numismatic herd behavior." there at your party
What a crock. LOL.
Keeping a very close eye though.
I'd like to hold for one year to get long term cap gains on sales, however will sell sooner if prices start trending down.
<< <i>I'd like to hold for one year to get long term cap gains on sales >>
There is no preferential capital gain treatment of collectibles - hold it for an hour or a decade and the tax consequences are the same (sorry)
<< <i>
<< <i>I'd like to hold for one year to get long term cap gains on sales >>
There is no preferential capital gain treatment of collectibles - hold it for an hour or a decade and the tax consequences are the same (sorry) >>
Is this the same for straight bullion (i.e., bars, rounds, etc.)?
<< <i>
<< <i>
<< <i>I'd like to hold for one year to get long term cap gains on sales >>
There is no preferential capital gain treatment of collectibles - hold it for an hour or a decade and the tax consequences are the same (sorry) >>
Is this the same for straight bullion (i.e., bars, rounds, etc.)? >>
Yes - all collectibles, including bullion. I need to clarify my first post a bit - short term gains on collectibles are taxed at the same rate as income. Long term gains are taxed @ 28%. So this has me thinking - if you are in the 15% tax bracket - according to the rule - you pay 15%. All other tax brackets pay 28%. So if you are in the 25% tax bracket ($69k-$129K taxable income for married filing joint) you could be penalized 3% for holding a year. You would have to have taxable income over $212K - the 33% bracket - to have any tax savings by holding the cons over a year. Guess the flippers are smarter than some people though
THANK YOU! You guys rock. MJ
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......