I guess it starts 1/1/12 unless it was repealed … ABC News link here.
Nothing about that is specific to precious metals, and it has nothing to do with the government (or Obama specifically) wanting to track how much gold you purchase or own. The linked article says, “Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year.” So it doesn’t even apply to those who are not self-employed.
Sorry…didn’t mean to suggest that it was a way to track purchases or ownership. It is a way to track sales and increase the reporting and collection of taxes.
I did think that the change was geared directly toward the investment side of things rather than being lumped into all other transactions so in that sense I was wrong.
Yes, but it was suggested above
that the president wants to know who is buying gold and where you live, as if he’s personally going to show up in his presidential bus and confiscate your gold at gunpoint. Instead, it appears that the government just wants to be sure that income is being declared and tax paid upon it.
If there was a specific part of this page you wanted us to see, you’ll have to do better than this. (And for those who don’t want to click, it’s the contact page of the Glen Beck website.)
Nope. I just wanted people to see “Contact Glenn Beck” as a (humorous) response to the question in the OP.
As it currently stands, the act will be enacted Jan. 2012. I personally doubt it will make it. Probably the SCOTUS will take it up later this year.
I do not understand all this Talk.? GOLD how to buy prices going to etc/ The False Obama wants to know so "ID is needed… NO not TRUE, you walk in a shop or go online and Buy it they do not care who you are how much you Buy/ Infact #1 is your Privacy… I am Ex Hedge Fund trader and specialize in Metals…
I since 1989 would buy Gold Platinum Silver Palladium "well over 1000’s of Ounces of Yr of each metal Graded and non graded… Never 1 x did any-one ask for SS# etc and they will never…( well if buy from ScotiaMocatta) but that is BANK and must have ID as like opening a account in Canada… But then they destroy all ID credentials… If 1 knows the order of Gold ban was lifted in 1974…
If want notice ask Monex or Us Gold Bureau for FREE pack on buying metals and include the notice… Even when order over internet SHIPS FREE/ unless buy small amount, and YES many have a DCA program…
I like buying only Maples for Gold and old world Fractional as Dutch Guilders has 1/5th ounce Gold and Fine coin Now as of 2012 for a 1875-1933 is under 360$ Then have Sovereigns almost 1/4 ounce less then 400$ 20 Francs as Rooster or Angel or Swiss Helvita 338-360$ Ducat 1 and 4 1 the 1915 restrikes are almost 24kt pure and more then 1/10th ounce .1106 and 200-208$ So say get 5 10 Guilders Pay for basic 1 ounce coin but have 5 coins worth much more as have Historu and Rare…
Look at 100 Kurush from Turkey/ Ottoman empire has basic 1/4 ounce and well must convert from Islamic clander date as go by 1338 which is 1941
Basic conversion is add 3% to date shown plus 620 and have the AD calender/ so do not be ripped off on ANCIENT COIN "many post and date 1337 or 1228 they are late 1890-1941…
Silver see as going Highest by % wise / Think % gain not Dollar Gain or increase…
Like buying a soda from gas station same soda 1 place ask 1$ other 1.25 well say only 25cents NO 25% so say have 2 equal 100k homes would you pay 125k for the same 100k Home?? Well if do per soda then (not thinking Logic on “making or saving money”******
Be smart and do not listen to RUMORS no 1 is watching or cares/ "just walk in a Coin Shop with 100k they will be handing you coins like water and if in same state 99% will not Tax you or even make receipt… On Intrnet NEVER they deliver descretly by US mail or Fedx etc Brinks if say so for large order…
But what is TRUE is Buy when can and often and Diversify Coins and metals I say all types is best from Old double Eagles to the 1/4 5$ Indian head to 2 pesos 5 pesos 50 pesos Guilders 20/100 Francs Swaiss Helvita all 20 stamped are .1867 Gold… Russian 5/10 Rubles the Kurush panda kangaroo, Maple #1 2 rand 1 Rand and then Kruggerand was made in 1967 and contains the Gold it says plus 10% copper for duabilty…
Platinum another Maple buy or for any metal Bars are OK to but do not pay much premium as will never Be rare and closet to spot as ever/ Made for quick flips or easy sell…
see 3.3 grams of gold is in a 1/10th ounce Gold and well can go from there on ALL metals so when buy bars know what is equal But Bars are 24kt coins VERY FEW but Ducat and Maple is PURE…
I have much to add and Consult per metals and have newsletter/ but not here to sell you something my newsletter has been out and by subscription BUT CLEARING UP THIS MESS ON BUYING and SELLING…
Oh and for Funds NO/ I use only for Hedging with Options and to enhance returns…
So I will buy Gold silver platinum Palladium even if going down as I have PUTS on the SLV or GLD or short it also… But with expense of ETF no and get no REAL ownwership in the metal
Only Sprott Funds have a fund that allows for Yes physical ownersjip in units and swissmetals SMA and well many others, but many sell over NAV so a Unwise way to buy…
Rounds are best and coins Plus per silver the pre 64 and war Nickles/ as far as war 5 cent pieces 40/ or 2$ roll is 2.3 ounces of Silver… So that is how I like fractional buys…
Coinflation is place to go for MELT value of Junk silver… Think % not $ returns and know Troy ounces and to scrap DWT conversion and 14kt 18kt 24kt and grams… Note DWT to grams is 20 is key/ and 14kt is basic more then 1/2 pure .583 or so many guides on Internet… But try say APMEX to get idea or just search what is gold content of x coin…
Fractional world is best buy in my eyes for Gold… Plys is thinking Global disater do you not WANT/NEED a Global variety… buying Eagles is very Narrow minded… and fools game to me, and do-not Pay-up for SILVER ART, It ALL melts the same I say… So lowest cost PURE is way to go…
Mike/ right now even Ebay has per Libertcoin a Fine deal on PCGS graded new coins and PCGS in my opinion is ONLY service to TRUST and FREE for subscripion to the Graders as NGC also but NGC 70 is PCGS 69… Any other grader forget it those 2 only but I bias PCGS but to each there own and 70 is 70 1st STRIKE is scam if 70 a 70 does not matter if says 1st strike but any willing to pay 2x for the words/ take to dealer and get same $ for same 70…
Well I will HELP if any need it/ not sure if get back here but can ASK at my e-mail
and I am part of caddyshackadvisors/ but site down for re=do, and do-not need advertise to break any rules but think can say Euro-pac Matt is hands down best dealer have worked with and good for large buys… Smaller look for Goldeneagle coins Apmex "just search a coin and will find good dealers NWT mint has monthly program and many have Free shipping if do 150$ per month or more so could do say 5 Silver Maples per month and FREE plus Gold 1 Ducat which is more then 1/10th ounce and get Free shipping and note a near PURE GOLD 1915 Austrian Coin…
Good Luck
Mike
So, then, Bush wanted to know too, right?
It is NO ID etc/ I have been buying since 1989 over 1000’s of Ounces each metal per YR. Your Id is Not needed Ok/ #1 is not exposing your ID Euro-pac talk with Matt ok/ No firms ask for ID or SS# as to protect you/ the 1974 act is over and legal to own buy etc…
For monthly buys program best well/ My best source does Gold at 200$ per month and Silver at 150$ and FREE SHIPPING if do monthly Buy / Look for world gold as Ducat .1106 almost pure and tad more then 1/10th ounce coin and 23/3/4Kt Pure Maple is purest coin.
Now 10 Dutch Guilder is near 1/5th ounce 1875-1933 and best value actual gold is .1947 bt get Numismatic Rare potential the look at the 20 Francs or swiss 20 at .1867 Gold or Sovereign per world alost 1/4 ounce yet not pay as much for 1/4 ounce plu have Upside potential for rare coin… Bars are 24kt but will never be Rae// Do not go for Silver art coins as/ I say It all melts the same so paying 100$ just beacuse Pretty is??? when 1 may get 2 Maples for that at cuurent cost…
Maple best in my opinion per purity and also Libertad from mexico/ Eagles overpriced and to many made “Think global” If buying metals for Hedge/ world collapse doesit not make sense to have global portfolio?
Some sites have Global gold fractional portfolio to Buy all at 1 x/ I like the world fractional gold best… I am Ex Hedge Fund trader in precious metals/ and Hedge with GLD /SLV and PLT and Pall for Platinum and Palladium…
Funds no good best is buy the metal and hedge with Options in my opinon/ So all this ID talk is non-sense unless buy from Bank in Canada Scotia Moccata then ID but shred immediatelyonce know you are human as with Metals and Diamonds your protection is #1 and no place use’s SS# or any form of ID… If walk in with 200k a dealer will pull out as much metals as can sell you and give you huge deals Or per internet FREE SHIPPING…
NWT has monthly Buy but place in Montana is Free ship with monthly buy so say want 5 Maples and 1 Gold Ducat near 200$ for Ducat and over 1/10th ounce/ Note Troy ounce 31.113 grams Not Andrpois ounce which is 28 grams…
So know your Grams and if sell scrap 14 18 10 24Kt and DWT (trick per DWT is #20) find many sources per internet and think in % gains/loss not $ OK
Silver has out-done Gold in % over last 10yrs/ and expect will continue but Gold should hit as of late 2013 2430 per ounce and Silver by 2017 590-720 per ounce…
Platinum is a 5k plus by 2017 with Palladium close behind in % gains… MY opinion
BUT DIVERSIFY is #1 key and Grading PCGS only… look for Gold Sovereigns and Ducats 20-100 francs and Guilders(dutch) also 5/10 Roubles for Gold from USSR
any ?'s happy to help but do not know site well/ just wanted to help with ?'s
This is an old thread, revived by new member 73india73
I won’t ban you 73india73, cause I’m sure you’re not a bot, but you really must try harder to post coherently.
Thread is closed.
samclem, moderator