Is U.S. Gold Worth the Extra Premium?
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- Опубліковано 5 сер 2024
- Is U.S. gold worth the extra premium? Why do I show so many Gold Buffalos and American Gold Eagles? I'll explain why I do what I do and whether or not I think it's worth it.
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Thank you!
Being in the US, when I began stacking gold, AGEs were my intent. Looking at them at my LCS changed my mind though. The alloy didn't look like gold should look to me. 24K all the way. Buffalos looked unappealing, but Maples... 🍁🍁😍 So they are my primary gold. I love the design, and here fairly close to the Canadian border, they're just as liquid as US gold coins.
I can see that for sure. I could have 10 and never be concerned about moving them, 1099-b or otherwise. At higher numbers it starts to concern me. It’s a great coin regardless. Cheers!
Kangoroos look the best and they typically sell for less
I love the Buffalos and Maples. I do have some AGE but they just aren't as pretty. I also am partial to Brtanias, but not with "World Economic Forum" Charles on them. Thanks for the video, I've wondered about this topic quite a bit.
From a stacker’s point of view, no. Maple leafs for me.
I just stack for weight and ozs.
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Smart man
Glad to hear you're on the mend. No doubt a rough time for you and your family.
Not many videos on the estate side of precious metals. I appreciate your frank discussion about it.
Thanks!
Second that thought - more nuts and bolts and practical implications of "passing these to heirs" videos are needed
I really appreciate your videos. I'm brand new at stacking as of July 31st 2023. I've accumulated a lot of gold, mostly focused on that. My monster box of mostly silver eagles is about 1/3 complete. I watch you mostly, I just get tired of doom and gloom YTers. Most of us in this community are stacking to prepare for some sort of fiat depreciation, so "duh" on doom and gloom. Watching others YT channels made over a year ago proves they were wrong on their date predictions of doom and gloom. I feel good about transferring my paper money into real money but I've gone a little crazy. Im stacking AGE hard but i love the 24k Buffalos and Maples the most. They just look awesome. Your videos are great because most of them help newbies like me.
I'm glad you spoke about the buy/sell differential rather than solely the ease to sell(which is also very important). Your strategy is proper and well thought out. I started stacking very late in life and I will unlikely reach much more than the 2 ounces I have. But I'll keep your plan in mind should my circumstances change. One thing I have found is that they are all easy to sell if the price is right. If the volume is too high, coin shops have a method for spreading it out with other shops or wholesalers. That brings to mind another alternative: online bullion dealers operate on slim margins and often have the best prices either buying or selling.
"That brings to mind another alternative: online bullion dealers operate on slim margins and often have the best prices either buying or selling."
Agreed, which is why I suggest that my heirs sell my gold to SDB and my silver to a local coin shop. Shipping a lot of silver very quickly eats up
a lot of the value and SDB has always done right by me, so why not sell gold to them, if necessary? The good news is that I have a lot of other
assets, so the need to sell the gold should not be great, just optional.
@@edb3877 Yes, agreed. Coin shops make their money in silver and coins. They don't like the big investment and small margins in gold.
Yeah. Some people will only sell locally. That limits options. Time, patience and flexibility give better options. Cheers!
@@2is1gold Patience, indeed. I'm following your advice and cleaning my stack, selling off the tricky ones and rebuilding those easier to manage. You've helped me a lot because I was seriously thinking of just liquidating altogether.
Excellent discussion. Lots to address. 1) when coins keep the same design over time, non-professionals can recognize them. When they change often, the average person may not. Also, one-year designs resemble medallions more than coins. 2) a great design like St G or Walking Liberty has not been surpassed. 3) you wisely pointed out that different circumstances and scenarios favor different strategies.
More to comment on but already this is very long. Perhaps more later.
Yep, that’s an important point. Familiarity / recognition is a huge part of being able to sell to a wider audience. Cheers!
Love your videos, sir. Each UA-cam notification I’m hoping it’s a 2is1 vid to see what you have to say about the latest news or thoughts you have. Thanks for all you do!
Thank you! I appreciate that!
I completely get it! My wife doesn't have much interest in my collecting/stacking, but she has asked what she should do when she or the kids get them. I , too have left explicit directions about what to do! While I do have a little variety in my stack....I have made sure 75% of my stack is US Buffalos or AGE's to make things easier. I also believe it is worth the extra percent to have those! Great topic!
Thanks!
1099 what you say?!? HUH?!? Awesome info as I am going to have to write out info for my family as well but that's hard when I don't know it myself. Planning "getting your house in order" whether your ill or not is vitally important to having things organized & easier for your loved ones. I am glad your "on the other side of it" as you said, continue getting better as your information is important, appreciated and yes so NEEDED esp. to beginners. I'd been staying away from eagles and buffalos but see now that is something that needs more thought & investigation. Truely my thanks & blessings on your recovery!
Thank you!
Great video especially buy and sell. Also a reminder if your not around what your family is gonna due with the stack. I think alot of folks don't realize liquidating metals is not as easy as it sounds with all the hype.. Definitely an area one needs to consider and review in any estate planning. Appreciate your work.
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Great explanation and video. Thank you for this direct and informative soliloquy.
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Hmmmm that was a great way of explaining stack verses collection. Why exit strategy is so important.
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Yes, I thought about 1099-b when selling. From my understanding that applies to when you're selling 25 or more of 1 oz gold bullion. I don't think that applies to bullion in fractional sizes. Given that your two choices if stacking bullion that has 1099-b implications is sell less than twenty-five 1 oz coins or sell fractional coins. Just a thought for consideration.
Yeah, it's for 25 oz or more.
I think bringing back old classic designs is a great idea! That's part of the appeal of those coins for me. I also like Maples and NZ mint novelty coins but the American classics come first.
I'd love a 1 oz gold Mercury / Winged Hat Liberty.
Really good discussion. I’m definitely thinking this direction as well. Thanks for the clarity.
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I’m Canadian and love the buffalos and eagles but the premiums are next level. The eagles we pay 12 % harmonized sales tax on. So makes them pretty unaffordable. Although I did just grab a 50 pesos coin even with the taxes I just wanted one.
Canada labels Eagles as “scrap gold” and adds a tax. That makes them a tough choice there. Cheers!
I think they actually classify them as collectables hence the tax. Same with any 90% or 22k
@@2is1goldI've heard both "scrap Au" and collectible. Does that depend on a 3rd party determination of what is a collectible?
Liquidity is much more important to me than it was when I was single with no kids. You never know when your number is called and having systems in place makes the mourning process a little bit easier for your heirs. Cull Silver's death certainly made me rethink my estate planning
Every gold and silver holder should be asking these "what if" type questions. Remember, folks, if you don't have a will (or a trust) in place when
you pass, the government WILL decide who gets what from your estate. And yes, this includes family members you would not dream of leaving
things to in your will.
My own gold stack is about 65% Maples, 34% AGEs, and 1% Britannias. I just really like the looks of these coins. Don't care for the Buffalo design,
even on a nickel, so have chosen these 3 types of coins to stack. I limit my stack to these three types and am not at all interested in adding other
designs. I live in a US state that borders Canada, so Canadian coins are seen here quite often and are widely recognized. But I do like the quality
and security features of the Britannias, so will continue adding them to the stack too.
100%
Great topic as usual. I like to buy other coins for the lower vig but I haven't done it. I'm just skeptical. I think I'm going to stick with my Eagles and this video reaffirms my decision. Besides, you really bring it home for me about my own demise and my loved ones when you talk about yours.
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I’ve yet to buy any American gold this year. It’s only because I was fortunate enough to buy before the craziness this year. If I hadn’t stacked boring then I’d be paying more for the smart gold.
I’m with you on that idea. If you have a base of easy gold, you have flexibility. 🤜🤛
Great video thanks for the info have a great week 🥃🥃🥃
Thanks Nate! 🥃
Glad you pulled through.
And I appreciate your candor.
Thanks 🤜🤛
Thank you! I had no idea about 1099s. I buy the cheaper foreign coins (Royal Canadian Mint is my favorite)--but I've never *sold* them. With these facts in mind, I'll hold out for U.S. gold.
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You have expressed some valid points, it would certainly put you at a better advantage on home ground to have the leading coin in the district. while it is not bad to have the others, you will still have a edge over the rest. As for me, i would like to have at least a few world coins before i stack mainly kangaroos (i am Australian) and possibly a few more britannias and maples...
Another argument is that Gold is Gold. If you got the Gold, you get the advantage regardless of the stamp
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The distinctiveness and precision of the Maple's security features put the dumpy eagle and miscut buffalos to shame. It’s uncomfortable to turn $2k in “actual” money into a little yellow disk for the first time. Maples ease the skepticism.
MSL?
@@livinthedream7714 Couldn't tell you. 🤷 Changed it to Maples.
This guy keeps his eye firmly on the prize.
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really well structured points, great video as always. US gold sits low on my list vs other gov backed gold, Buffalo's crush the Eagle on purity and design imo. I'm located outside the US so perhaps i'm not the best person to opine so take it with a grain of salt.
When in Rome, do as the Romans do..... I consider myself very fortunate that I don't have to buy low security featured bullion from US mints
Regionally in my area coin shops pay $50 over spot for Buffalo's & Eagles everything else it's $25 under spot ...
Silver bars they pay $2 under spot , rounds are $1 over spot , no matter if Maples Britannia's Buffaloes
I gear my stacking around what my regonal buyers pay ... Just like in real estate you make money when you buy not when you sell !
I trade around gold buffaloes and eagles , As Jim Sinclair would say you saw the rhino horns
Love your channel keep up the good work
Thanks! 🤜🤛
I agree with your assessment and gold strategy for the same reasons you stated. I use the 80/20 ratio for my gold holdings as well. This strategy allows me the satisfaction to purchase whatever gold catches my fancy while simultaneously keeping guardrails on my emotionally driven gold adventures, all while staying the course. Win, win for me utility and function☑️, emotional/fun purchases☑️, the satisfaction of a completed goal☑️.🍻
Well put 🍻
Congrats on your recovery , last year in August my appendix ruptured , at night , I drove myself to the emergency room ,
morphine and delotted did very little for the pain , I asked the doctors to kill me to put me out of my misery , I laid there for 16 hours before an internal surgeon was able to get to me the next day after lunch , other than a large hernia on the incision , I'm doing good , while laying on my back in the hospital trying not to die from paratinitus or sepsis , I decided I need to up my intake on yellow bullion , since then I've added 8 oz. , there is no goal other than buy as much as I can when I can , fortunately I was back to work in two weeks , this coming August will be one year . I'm debt free , I just need to figure out how to turn 100.00 into 10,000,000.00 out of thin air like so many other people seem to do , if only I were smarter , and yes I throw money away on lottery tickets , you can't win if you don't buy a ticket .
You can’t not win if you don’t play!
As they say, what doesn’t kill you only makes you stronger. 😄
There's a lengthy education to go through in stacking or collecting. It's been an education on the fly and I can see why anyone might not consider heirs until well into the journey. After I'd seen a Maple, a Kangaroo, and a Queen's Beast coin - I was disappointed, by comparison, in what the US Mint produces. I'm still a novice but I appreciate the quality of the premiere minted coins. I love the pre-33 Double Eagles but look at later minted US coins as another resource, personal wealth insurance, and providing me with many more options. For me, when I consider Peace of Mind, I'm ok paying the increased premium - it's the cost of doing business for my needs. The majority of anything accumulated won't be for me so it's all about making it easier for la familia. (I recently found an LCS who sells .9999 at 2%-3% over spot so that's my new honey hole).
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Well said, I agree with your mentality. Thanks for keeping it classy and professional. 🍻
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What do you think about converting part of a Roth to a register holder for a monthly fee? For Gold
Broker was promoting special dates fractional gold Eagles top ten years of 1/4 oz and 1/2 oz.
Very glad you're still with us. I'm glad for your health and that your family still has Dad and Husband around. Thanks for your great advice.
Thank you!
good video, if you consider trying to give a loved one a crash course on everything we know that can be overwhelming. then on top of that a trusted friend whos knowledgeable is a bit of a gamble. my lcs talked to me about this and said that one way would be to appraise everything beforehand and of course leave behind detailed instructions. I think this is why we still have some sucess in coin roll hunting, surviving family members dumping collections at the local bank. although alot of times it seems futile to me to keep on looking. thank you 2 is 1
Yeah, good point. I’m sure a lot of people who inherit coins just move them as fast as possible and some don’t know what they have. Cheers!
Premiums on fractional coins are pretty ridiculous, but worth having some imo. British Sovereigns are a decent way to stack fractional at a reasonable premium. Always advise loved ones to liquidate bullion piecemeal and take the half hour it takes to walk them through what to do if you get hit by a bus.
Good idea. Good account name. 😄
Buffs and Maples for me. Love that 24K shine. I do have several AGE's as well which all came from sales amd deals. I rarely ever purchase AGE's at "regular" prices.
They don’t grab me the same as some others either. Cheers!
I'm sure you've mentioned it before, but do you do most of your buying/selling at an LCS or online? What goes into your decision of buying online vs. an LCS?
I buy a lot of Eagles and Buffalos locally. Anything new and atypical has to come from an online dealer. Local dealers are great, but they can’t compare to online dealers for inventory. Cheers!
Making selling easy for others is a primary goal at this point for me. Any fun or collectable stuff I buy I expect will lose money if I suddenly die but the foundational stuff is both easy to sell and in high demand. That's the only sensible approach in my book. Thanks!
You could stipulate that collectibles go to someone specific with the proviso they do not sell for 5 years.
Yeah, I still enjoy the easy/boring stuff, so if I’m buying atypical options I want it to be really great at this point. Cheers!
Is it possible to do that legally. I suspect it is. Wouldn't that require you to put them storage where they were not available to them for 5 years? Just curious?
@@msmeyersmd8 You can likely make someone a trustee of the coins without giving them ownership for a specified time such as 5 years (consult a lawyer in your area for a real answer).
I'm not sure that accomplishes anything other than making them wait for 5 years. Collectables markets are unpredictable and waiting for years may actually hurt the resale value
I don’t currently own any precious metals, but I am becoming more and more interested. Definitely learning a lot from this channel, so… cheers!
Instead of going out to dinner, go to the local coin store and buy an oz of silver instead
Cheers!
Thanks for the advice. I think roughly 5% of my monthly income is where my thought process is leading me.
@@kellyharbeson18 Great advice, IMO. Using a credit card to buy PMs at a market high has put more than a few stackers in dire financial straights.
So has getting a 2nd mortgage on their house, thinking to pay off the card with a small part of their profits, only to end up losing their house.
@@edb3877Only works if you’re taking advantage of CC money back deals when you spend X amount and you can pay it off on time. Otherwise, only spend what you can afford.
When I first started getting interested in gold I thought having different types was “cool” and that gold was gold. Really happy that mindset didn’t go to far and I discovered your videos few years ago. For me you buy US coin(s) and kind of forget about it.
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Great points and tactics here. Here is another case for leaving some detailed information and instruction for those that we leave our collection to. Is someone has a large amount of anything then they can leave the instruction to be sure to only sell these in small amounts, never the whole thing at once and tell them why.
Indeed, great quote about sharing!
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It makes sense for us in the Uk to buy coins produced by the Royal Mint such as Britannia's and Sovereigns as they Capital Gains exempt, as they are classed as legal tender.Saying that I do like having a few Buffalo's purely for the design.
I’m jealous of your CGT exemptions. Cheers!
Great videos mate, thanks for your insights.
I am comparatively new to stacking, and we don't have many coin shops around my area (Southern EU) so I purchase online (of course with the utmost care).
I began from Britannia and Pandas (just love the design of both), but does anyone know which gold coins sell the easiest in the EU?
Maples, Philharmonics and Britannias do well. There are regional biases against some and preferences for 24k in certain areas. Maybe some Europeans can tell us what they find firsthand. Cheers!
Hopefully you are teaching your family how to buy and sell the gold and silver after your recent health issue. I hope all is welI with you now. My Dad taught me about coins. I prefer US coins too but the premiums are too high sometimes. UK and Canadians are my back up choices.
They aren’t as interested as I am, so I’m not sure it’s sticking. I’ve documented it, though. Cheers!
Always sound advice, thank you.
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I mostly have maples but I'm Canadian. I would have more eagles but we pay tax on them here unless a LCS has one. Very scarce there though.
When spot price has jumps (like it did last week), do you still do your 1/4oz monthly purchases or do you wait and wait for it to drop a bit before you go in for a buy? I’m torn on what to do right now. I can grab an oz or hold off completely. I can go in for a 1/4oz now even tho spot just jumped a couple % last week…. Or I can do nothing and hope the BRICS/CBDC news is a big nothing burger. 🤷♂️
I wait, but I’ve hit my running goal.
I was looking into 1oz gold coins i can save £85 by getting a bull and bear as opposed to an eagle which is £85 dearer, end of the day an ounce is an ounce or am i wrong any future buyers would want the more reconisible coin any pointers on this would help.im only stacking 6 months but going nicely slow and steady silver and gold.
What’s your thoughts on Pre-33? Would that be easy to sell since it’s a US coin?
I have about 90% US coins. A few Krugs and group of Maples. The Maples are the best looking. Soon occasionally purchasing pre 33 in the future.
Maples are standouts for me. Cheers!
Yeah. There's a lot of local considerations to take into account. In the EU there's no preference for one type of investment gold over the other for taxing etc. Of course there's coins more popular than others. Unless you're buying US coins on the private market here the US coins have way too much premium. Sure they might be slightly more popular than many other bullions but selling to a dealer you won't regain that premium compared to a britt or krug. Also they're made in such vast numbers that they won't get any numismatic value any time soon - so don't care about US quality again others. Are we stacking or are we collecting? Probably a bit of both but you need to be able to separate it.
Personally I prefer Krugs for large coins and vintage for the fractional. Typically I buy one 1 oz coin each year from a dealer and then whatever vintage that pops up at private sales at a nice price I'm willing to pay. Here there's a funny thing. French etc. usually can be had (and sold) around spot. The local vintage coins typically goes higher - often a tad over dealer price which is beyond me because quality is not always as good as what I typically get from the dealer. So local vintage from the dealer once in while when I want to add some and haven't got it from other sources.
Good perspective. Cheers!
Given the potential difficulty in selling as you've described, why not stack pre 33 US Gold? You can find nice coins that sell close to melt value. Just curious about your thoughts. Am I missing something?
I’m with you. 90% of my gold purchases are Pre 33’s.
They’re too popular here. They got expensive!
That is true, but I have found collector groups on Facebook where dealers will sell. The groups are vetted for membership, and it is rare that anyone tries to do anything shady. I've have good luck so far
Im surprised you haven't discussed the recent Kentucky hoard collection that was recently dug out of the ground in a Kentucky corn field. If you aren't aware, the collection is around 800 mostly gold coins from the Civil War era and contains many high grade key dates. What would you do in this situation? Maybe make a video on this story?
When it first came out, it seemed like PR for an auction. If I found it, I’d be turning soil for miles before letting anyone in on the news. I’m guessing that’s what the anonymous person is doing if it truly was discovered that way. Cheers!
The idiot who found it shouldn’t have even spoken a word of it to anyone 🤦🏽
Only 6 months into my stacking journey and love your content. Living in Australia my main silver purchase is Perth mint 1kg bars. Easy to store and very close to spot price per ounce. As for gold i love the kangaroo and lunar series. Mostly in fractional but not far off hitting the 4 oz mark. Loving the journey 🤙🇦🇺🤙🇦🇺
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Great progress you've made, especially for only half a year!
Perth make some beautiful coins! Got a couple of them. Just stunning
You are dead on. My particular situation is that variety is what keeps me interested, thus continuing to buy. I can't seem to spend the amounts necessary to keep gold in significant quantity, to make it a viable storage of wealth if they all look the same. Can't seem to get over the "I like shiny gold things" to turn my addiction into a pure savings account.
Ha, I get it. Cheers!
Addiction always muddies judgment.
Thanks for the explanation. Going forward eagles and buffalos.
Great video mate, thanks. 😀
Thanks!
💯 to the topic discussion today.
Estate and family either gild to deal with.
# slice talkers.
One's approach should depend on one's geographical location as being near a major concrete and steel jungle as opposed to a town in the U.S. where the tumbleweed has greater numbers than people should play a role in one's preferred PM accumulation as demand drives local price and resale. Doing one's due diligence on what the local market demand is and what one's preferred LCS is willing to take will make things easier on one's family members if one assumes room temperature unexpectedly. As you've learned over the years, some coins are in higher demand in your area as opposed to others and it's always best to be proactive.
A 25% chance of getting tapped by the grim reaper will definitely clear one's head on many things. Life truly is too short. Cheers!
Great betting odds, though. 😄
Only the lowest premium (strictly speaking, the lowest expected total spread). Always prepared that the stack will be sold for melt. It's the least stressful planning option. And you can vault them without having the urge to admire them from time to time. 😅
Any high premium purchases are considered an expenditure, not an investment. These can be kept at home.
How long will it take for a high premium silver coin to breakeven, assuming 10% pa capital gains? (At least 5 years is my estimate). How much time and trouble is needed to recover the premium above what a dealer is willing to pay you? What is the cost of that to you or your beneficiary? Forget these considerations if stacking is a family pastime. 😜
Good perspective.
The music in the into was a bit too loud. I didnt get what you said at the beginning. But your videos are great, thank you!
I'll work on it. Thanks!
Groovy intro music 🎉
😊thank you for the info 😊
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discovered "stacking" a few months ago wen I got my mom and dad's Costco special Sentry safe open and found... a few grams of gold! It started me thinking about my own children and what i could leave for them to find. Now i am down the rabbit hole. Stated buying silver eagles and maples but yesterday's APMEX packaged delivered my first fractional gold eagles. Now I am hooked. Thank you for your excellent content!
Glad I live 10 mins from Perth mint, the choice is obvious for me, Perth mint coins all the way!
Nice!
What was the cost to trade up Maples for Buffalos, did you have to sell at spot and buy at +4 to +6%?
The dealer I traded with was very good about it. $40 to make the trade. About the difference I would have paid to begin with.
Good input. Personally I go for UK gold souvreigns but do live in Europe.
Makes sense. Cheers!
Same here bullion by post and europa bullion both have huge selection of coins and bars europa bullion is where i get my silver the vat is a lot cheaper with them well worth a look at both of them.
I was just thinking this question to myself, excellent timing. Been finding good deals on Australian gold coins.
Edit: Appreciate the future taxes reasoning, didn’t mention trading for goods scenario.
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The Austrian 100 Corona restrike is my choice. Very good value and I wouldn't be afraid of them on the secondary market.
I do save my gold and silver purchase receipts in my investment folders just in case.
Just now getting in the money starting to purchase between 1700-1850.
I’m going through something myself so I understand about getting your house in order. I’ve already researched the 1099 form and how it relates to gold. I made a in depth list of what needs to be done in case of you know what….
Scary to go through but very necessary.
Good luck on the rebound!
@@2is1gold thank you. Keep up the great content
I'll pay a little extra buying raw BU Pre-33 stuff,because of the added numismatic value,but never for generic bullion
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It should be a little higher premium because the dollar is the reserve currency…and it has a face value of US dollars…but I think they are a little too high premium these days…silver and platinum US coins are also overpriced…but people want them so it’s supply and demand
The demand definitely supports it. Cheers!
I stack Canadian Gold Maples. Government minted by stable bordering country, 24 kt and a few dollars cheaper than AGEs. A beautiful coin for sure. I never count on getting any premiums back and buy to hold.
To me, l dont care. l am cheap. The cheaper, the better. You get killed when you sell. Very nice video.
@@The-Hamburglar Thankngoodness my Lcs pays spot for coins and bars. He is one mile from my house and will match SD bullions prices when l buy. No taxes in Texas on metals. l am very lucky!
I went to a LCS today, and they offered below spot on everything…
$60 below on eagle/buffalo
$80 below on maple
$110 below on bars…
And they were asking $150 over spot on eagles/buffalos. Talk about overhead cost
I want to make sure I understood you correctly.
Selling any 25 or more sovereign HQ foreign (Maple Leafs, Krugerrands, Britannias, Kangaroos, Philharmonics) coins triggers a 1099? Based on current spot price? Or lowest spot price during year of coin issue? Without original receipts?
I must be missing something as if they used current spot price there wouldn't be capital gains at all. Correct? What if they sell less than 25 coins? Today, 25 Au coins is ~50k? Please excuse my ignorance.
What is the difference with American coins as far as capital gains. I understand they would be easier to sell for buyer preferences in the US. But I don't understand the difference in capital gains taxes.
I appreciate all of the advice you've given to me over several years. I don't expect you to teach me precious metals capital gains tax law. Just a clarification of what you said in the video.
I face a medical problem within a year two with a 1 in 5 chance of poor outcome and don't want to leave my wife and kids, as you discussed, getting screwed when trying to sell the PMs of G & S if I'm not around. And this video made me feel like I know
In the United States, a 1099-b is required for any sale of 25 or more ounces of Krugerrands, Maple Leafs or Mexican Onzas (or mix of those three) either in one sale or multiple sales in close proximity. A kilo bar of gold triggers it as well as do certain silver transactions. Kangaroos and Britannias are not specifically called out. Capital Gains Tax is owed on the gain of any purchase regardless. If you buy a gold coin for $1,800 and sell it for $2,000, the CGT is owed on the $200 delta and is capped at 28%. Without a 1099-b form, it's on the seller to self-report the gain. If the asset was purchased with cash and sold for cash, there is no particular pressure on details. In the case of a 1099-b you're supposed to demonstrate your cost basis. Most people would rather self-report than have to prove the initial cost for a few reasons, one of them being that people would rarely have receipts. If you've inherited gold (not from a spouse) the cost basis steps up to the price of gold at the time of the person's death (the person who passed the gold down). Good luck with the health. Hopefully you don't have to deal with this any time soon. Cheers!
Not really, so many other gold coins with smaller premiums. Still, I buy 1 Buffalo per year.
ASE's @22K are the same as Krugerrands, which are much cheaper. There are so many Canadian 5-9's coins that are cheaper.
I’d be in the same boat in Canada. Lots of great RCM options. Cheers!
I personally prefer only US gold; if I couldn't find any, then Canada or British. If can't get them, then any country and even chains, etc.
I have a list and phone #s and addresses for where to sell PMs. I also have a list on why and suggested reasons to sell ( or not sell!). Like a treasure map.
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I am foolishly happy at the relief mustang liberty I bought two years ago after seeing on your channel. You rarely pull that one out in your vids anymore. The mustang was an investment to me, the rest are for preserving.
That’s a fantastic coin. 🤩
Tax laws are subject to change so I’m not in a hurry to liquidate my Britannias. As you mentioned, the prices and security features of Britannias are attractive. I buy American coins too, but only if I think the price is reasonable.
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Planning to retire in Europe, so I’m looking more at Britannias and Sovereigns with a few 20 francs in for variety.
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1988 Gold Proof 1 oz Australian Nugget
2023 Gold Eagle 1 oz Bullion Coin
2009 Thunderbird Totem 1 oz Gold Bullion Coin
What should I get this month?
Got a bunch of different shapes, sizes, weights and origins. Family has phone numbers of friends/dealers who will help with the logistics of liquidation. Keeping it as simple as possible for wife and kids.
Well said, You have a great week & for myself the extra premium is worth it , The Mint could step up there game on look's
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Wow thanks I would sure like to hear more about the 1099-B and the low-down. Trust me ignorance is not bliss when it comes this type of information.
Fairly New to gold. U.S. gold will be the only gold i purchase. At least for the first few years
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As someone who will never receive an inheritance, being disappointed that someone gave me “the wrong type of gold” is about the most selfish self serving nepotism I’ve maybe ever heard. Be grateful someone cares about you enough to leave you anything! Entitlement to a premium inheritance is so 2024 American culture, and why we are swirling into losing our place as the worlds biggest superpower
Well now sh!+, I just learned a new strategy. Thanks for imparting some knowledge!
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Hey two, Maybe do a vid on selling inherited PMs? Get a tax guy on with you.
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I GREATLY appreciate your reason for less than 25 reportable coins. Does the no reporting exemption only apply to AGE & AGB's?
Last thought, kids are ok but spouses get stuck with cap gains tax if they sell anything for a gain, right (1099 or not, large bank deposits or wires coming in could get flagged or audited. Failing to report income and money laundering are about the worst anyone can face.
Do you have an opinion there, or a discussion?
The 1099-b really targets Krugs, Maples, Mexican gold and bars (few more for silver including Constitutional silver). CGT (or loss) is owed on any sale. Without a 1099-b you self-report. Kids have the same requirement, but there’s a step up cost basis at the time of death. I’d come back and haunt anyone auditing a family member in a case like that. 😄
Usually get 20$-30$ over spot when selling 1oz Maples here in Canada. Id love to have some Buffalo's but they are ridiculously over priced up here.
I’ve heard that. At least you have great options from your home team. Cheers!
I've been buying buffalos and eagles. this coming cycle I have my eye on a pre 33 Double Eagle.
Saint- Gauden designs are still used, because they are simply beautiful and no one has been able to reproduce such beauty.
I will continue to purchase American bullion coins. You know...that whole made in the U.S.A. means a lot to me.
Sometimes I lay them out on my Acacia desktop and just pretend that I have some class...😁😁😁
Heh, maybe class is like beauty... in the mind of the thinker?
Agree that the St. Gaudens is a timeless / classic coin design and this is why it is still around.
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Another great video. Thank you, 2 is 1.
Thanks!
Having bought and sold gold coins locally, my experiencecis, any coin shop shop, will verify it is gold no matter what country it is from. U.S. coins have less security features than other countries...for that, I prefer britts and maples....However, I do like pre 33 coins. Just pure history and they will not make any more. Again, great videos! Love your honest non hype content.
I agree, the US Mint needs to upgrade the eagle, but if they changed the American buffalo. I’d be a little upset. America is all about history so I assume that’s their main focus.
I always walk away smarter at the end of your videos.
Thank you.
I appreciate that. Thanks!
This was a good thought exercise, thanks. Glad you made the cut to remain above ground for a while longer.
Thanks! 😄
I am 80. last part really made me think!!! THANKS for your thinking processes gave me some food for thought.Have to bookmark this one.
Cheers!
I love Maple's but not the new one's with the king on them just strange looking to me. Eagles & Buffalo's are cool but Perth mint coins are awesome
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