I agree, plus it's way to volatile.
Before you think about investing, consider your chances of surviving to reap the benefits of investing.
This is my order of importance of things necessary for survival:
1A) Guns and Ammo
1B) Shelter(Includes Clothing.)
2) Stored Food(The best way to preserve meat is to keep it on the hoof, all else should be canned.)
3) Seeds
4) Transportation(Anything from a good pair of sandals to a beast of burden to an APC.)
5) Fuel
6) A medium of exchange beyond barter.
1A and 1B must be acquired before any SHTF scenario.
What's your order of importance?
Woody
This is my order of importance of things necessary for survival:
1A) Guns and Ammo
1B) Shelter(Includes Clothing.)
2) Stored Food(The best way to preserve meat is to keep it on the hoof, all else should be canned.)
3) Seeds
4) Transportation(Anything from a good pair of sandals to a beast of burden to an APC.)
5) Fuel
6) A medium of exchange beyond barter.
1A and 1B must be acquired before any SHTF scenario.
What's your order of importance?
Woody
Well I actually made 2 bucks an ounce. They gave me cash. So not bad. It was enjoyable. I only sold 3 ozs to see how difficult it was, still have 5 oz of what I originally bought. It was pain free.
Reasons why, in my opinion, physical silver/gold is a bad investment for me.
First, my long term capital gains on gold and silver coins would be taxed at a "collectible" rate which is HIGHER than my normal long term capital gains tax rate.
Second, my physical gold and silver would be subject to theft/loss/tornadoes etc.
Or in other words, compared to making other investments, I believe I would lose a higher percentage of potential long terms gains on the "collectible" tax than I might on other long term investments taxed at the lower rate.
Personally, I am more interested in stocks, bonds, T-Bills, CDs, ETFs, annuities, IRAs, etc. I believe that learning financial terms and calculations such as present value, future value, discount rate, opportunity cost, interest rate, dividends, distributions, equity, etc, and reading investment books from the library, has benefited me.
If I personally wanted to play the silver market (make/lose money based on silver's market price) I'd buy shares of an exchange traded fund that holds silver as part (or all) of its portfolio and possibly keep these shares in a ROTH IRA or Traditional IRA, where I could benefit from the additional tax advantages that an IRA provides me.
The thoughts in this post are my own relating to how I would choose to invest my money. Nothing in this post should be considered advice on how to invest your money. This post may contain factual, though unintended inaccuracies.
I personally like, but do not rely on, the following links
http://www.marketwatch.com/story/the-tax-implications-of-owning-gold-2015-07-15
http://www.investopedia.com/university/
First, my long term capital gains on gold and silver coins would be taxed at a "collectible" rate which is HIGHER than my normal long term capital gains tax rate.
Second, my physical gold and silver would be subject to theft/loss/tornadoes etc.
Or in other words, compared to making other investments, I believe I would lose a higher percentage of potential long terms gains on the "collectible" tax than I might on other long term investments taxed at the lower rate.
Personally, I am more interested in stocks, bonds, T-Bills, CDs, ETFs, annuities, IRAs, etc. I believe that learning financial terms and calculations such as present value, future value, discount rate, opportunity cost, interest rate, dividends, distributions, equity, etc, and reading investment books from the library, has benefited me.
If I personally wanted to play the silver market (make/lose money based on silver's market price) I'd buy shares of an exchange traded fund that holds silver as part (or all) of its portfolio and possibly keep these shares in a ROTH IRA or Traditional IRA, where I could benefit from the additional tax advantages that an IRA provides me.
The thoughts in this post are my own relating to how I would choose to invest my money. Nothing in this post should be considered advice on how to invest your money. This post may contain factual, though unintended inaccuracies.
I personally like, but do not rely on, the following links
http://www.marketwatch.com/story/the-tax-implications-of-owning-gold-2015-07-15
http://www.investopedia.com/university/
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Thanks for bringing this to my attention. Here is the legislative history I found for SB 862.
http://www.oklegislature.gov/BillInfo.aspx?Bill=SB862&Session=1400
When the dollar falls, gold an silver will vastly increase in value according to the "experts." Even if they aren't experts, one could do worse than investing in precious metals. They will keep their value and increase during hard times.
Ive bought silver from pawn shops, online and coin shops. I have never paid sales tax on them. That being said Im not sure if I am supposed to do that on my own after the sale or not. Im not going to but dont know what the exact rules are. Up to 30 ozs and probably buy more till I hit 200 oz then ill quit.
Buy low, sell high. Doesn't matter what the commodity is, that is the only 'investment' strategy that works.
Woody
Woody
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