Comments on: Can you really buy gold at a $600/ounce discount?

By: NBK

NBK — Sat, 21 Feb 2009 22:36:08 +0000

The gov’t’s have been threatning this and many have not come through. They always do this to scare the public and or try and surpress the gold price. If they succeed, it will be short lived. The gold market is smaller than microsoft. Once this bull starts chargin, there will be no stopping until much higher prices. The key to know if GOLD is going higher is to compare LEASE rates. If lease rates are rising, the supply is falling.

By: Justin

Justin — Thu, 19 Feb 2009 02:31:16 +0000

GLD and the other precious metals ETF’s are taxed like a collectible in certain instances, and subject to a 28% tax rate. Read the prospectus here:

http://us.ishares.com/product_info/fund/overview/IAU.htm?qt=IAU

By: Olden Atwoody

Olden Atwoody — Mon, 16 Feb 2009 19:06:39 +0000

I don’t mean to talk down to you, my brothers and sisters, so hear me out – for those of you that need it.

There IS a great market in modern US Govt. manufactured gold cons, however there are two factors working against YOU, the casual investor:

1. Rarity – It’s hard to predict what will be a limited run. The $5 coins minted at Wes Point in recent years were rather low mintage, but others were not. Rarity drives high prices…generally, but not always.

2. Condition – The “crazy” EBay prices have to do with coins submitted to a few, well-known coin grading companies, such as NGC or PCGS. The rank, “MS-70” is considered “perfect. “MS” denoting, mint-state, these coins can range down to MS-60 and still be considered “Mint States”, but the price difference between an MS-60 and an MS-70 is astronomical.

You have to know what you are buying and what the real price is. Note: The average coin you receive from the mint, new in its packaging, will likely rate at MS-64 to MS-66. Thus, few coins hit the highest grades, and then sometimes by a fluke.

Bottom-line: Know your coins before you throw money away. Get the “Red Book” coin guide, issued annually. Buy a few coin magazines. Attend a large coin show, without buying anything.

In other words, get smart. Or, send $25,000 to me, in small, unmarked bills, and I will sent you some very rare baseball cards that are guaranteed to be collectible!

By: Richie

Richie — Sat, 14 Feb 2009 21:20:38 +0000

Doc’s numbers are pretty accurate. Thats assuming the gov’t actually holds the gold reserves they claim to have. After WW2 the U.S. gov’t held 4.2 billion ounces of silver. It was sold off and the gov’t now must enter the open market to produce their silver coins from the mint.This includes the Eagles. There is currently more physical gold in the world than silver. Silver is an industrial metal in addition to being seen as “money” by many people. The silver is used up and can’t be replaced. Consumption has outstripped production for 20 years. Silver will do better than gold. Junk silver coins are sold in $1,000 face bags. The bags must be weighed because circulation wears some of the silver away and the .77 ounce of silver per dollar face is now a bit lighter. Physical silver and gold is the only way to go. If you let someone else hold and store your gold and silver you may not get it when you ask for it. So always take delivery. Keep your powder dry and your ear close to the ground.

By: Joe

Joe — Fri, 13 Feb 2009 20:24:31 +0000

if you purchase rare coins, gold or otherwise, from a reputatable dealer and then sell them a few years later, the dealer is not legally obligated to report the sale(profit or loss) to the IRS.
Check it out.