The government does not require you to report the purchase of gold and silver. As explained in the “Reportable Purchases” section, purchases of precious metals are not declared unless the cash reporting thresholds are exceeded. Investors who want to avoid reportable sales should buy American Eagles. Even so, the government offers inflation-protected Treasury securities (TIPS), a simple and effective way to eliminate the risk of inflation while offering a real rate of return guaranteed by the U.S.
U.S. As inflation increases, TIPS adjust their price to maintain their real value. One drawback is that TIPS usually pay lower interest rates than other government or corporate securities, so they are not necessarily optimal for income investors. Its advantage is mainly protection against inflation, but if inflation is minimal or non-existent, its usefulness decreases.
Another risk associated with TIPS is that they can create taxable events when interest is paid on biannual coupons. When you buy small denominations, you can buy anonymously; you don't have to identify yourself or reveal any personal information. Buying small quantities at a time gives you even more security and privacy. Therefore, the average buyer has an advantage when buying something small.
All that said, gold has recently fared better than silver, platinum and palladium, as well as most other precious metals. And, with every dollar or euro you invest in the physical possession of gold and silver, you withdraw liquidity from the current system that they can no longer use to finance wars or bribe politicians. Now that the world's currencies are not backed by government-controlled gold, the paper market for gold has grown tremendously as people seek to buy money backed by a physical product. To prevent the government from finding out about their investments in precious metals, many investors are happy to know that their purchases will not be declared and they will end up buying overvalued currencies.
In other words, he's a pretty good guy, he's a classic liberal and he's very much in favor of gold and silver. Under current federal law, the federal government can confiscate gold ingots in times of national crisis. Many gold and silver telephone sellers encourage the circulation of myths, misunderstandings, and blatant lies about buying and selling gold and silver. However, no government regulations require notification of purchases of precious metals themselves.
If a similar situation arises today, you can use gold for greater opportunities and silver to finance smaller things. If you invest in precious metals, your purchase will eventually be declared to the IRS on forms 1099 billion that record sales to dealers. If you want to buy gold to hide something because you believe that gold could be the last possibility and that the government will never discover it, it is the wrong motivation. A graduate of Linfield College in Oregon, Siegner dedicates his business administration experience, along with his passion for personal freedom, limited government and honest money, to developing the brand and reach of Money Metals.
So, in view of the government's policy of handing over “confiscated gold coins” to foreign governments, how can a promoter of the former U.