Posted on 08/04/2013 8:14:47 PM PDT by freedumb2003
I have a $100K investment that is about to mature.
I have been strongly considering buying real gold -- the kind I can hold in my hand and put in a vault.
I am thinking of building a strong save (too afficed to move) in my home, buying $50K or so of real Gold, then splitting it between my home safe and a Bank Safety Deposit Box.
But now I am ready to do it, I am really concerned and so I come to you, my Freeper brethren, for real-world advice.
1) Is this a good idea (I want to be ready if "Greece" comes here) 2) What are the mechanics? Whom can I trust and how do I take delivery? How do I know what I get is the Real Deal?
Those of you who have experience can help me, but I don't want so many specifics that you endanger yourselves.
Of course, being Freepers, an attempt by lurkers to take anything that is yours would probably result badly.
Thanks in advance!
You may also consider buying coins with the highest worldwide acceptability, so you’ll have no problem selling them anywhere in the world if you have to do so. For example, Asians prefer 24-karat gold coins, but the American Eagle and the Krugerrand are only 22-karat gold. They aren’t so popular in Asia.South African Krugerrand, the British Sovereign, the Mexican Peso, and the Austrian Corona gold coins are not as popular worldwide anymore.
Store it how you want, but keep it out of safety deposit boxes. I like surplus ammo boxes.
The powers that be have intentionally f*cked up the dollar and it will continue it's death spiral until it's worth nothing.
IMO, WAY too much to invest in gold, either in your hand, or in the bank. If things get that bad people will not take any amount of gold in exchange for their for real food, shelter, water or staple necessities. (In other words you cannot eat gold coins and if someone knows you have it, they will strive to take it)
$50K? Isn’t there something more solid you could some of that $50K in? Gold is so volatile.
Keep your receipts and keep quiet! Do that and your biggest worry will be thieving government goons - that's when the receipts will be needed.
Wouldn't hurt to have a few thousand in 90% American silver coinage as well for SHTF situations for local purchases of necessities.
APMEX is a good company, if you haven't considered them. They also have storage options you may wish to look into.
Good luck. Educate yourself and go with your gut feeling. It's the best advice you'll ever find.
My post was about American Eagle.:-)
Well, I’d find a dealer who lets you put “Fred Smith” on the smaller denomination invoices, go there and make sequential, small, non-tracable purchases of at least a dozen 100 oz silver bars, as long as the price is below $20/oz.
Then, if you can get it, and you’re worried about TEOTWAWKI, bag silver (old coins) with another $25K.
Another $25K in gold one oz bars and coins, and the last $25K in smaller denomination gold coins.
Walls and burying are the storage methods of choice, IMHO, but the silver especially will need to be sealed well.
Save some $ for guns, ammo, food, water, etc, etc, etc, etc etc . . . ..
IF SHTF, you’re most likely to die from diarrhea due to poor sanitation, or infectious diseases or injuries. Don’t forget it. Shiny metals may not matter much then.
Just so he knows that there IS a “pure” gold American coin ...
Not too wise too announce on the Internet that you will soon be storing $50Kin your home safe.
I’d invest in land with mineral rights intact... as long as there are moms driving SUVs taking their daughters to gymnastics or dance, there will be a demand for oil... and trust me, the world can be in crisis and there will still be women driving daughters to gymnastics class.
Do not put your gold into a safe deposit box or an IRA. Goldline has a terrible reputation for overcharging and has been sued for such. Buy from a reputable online dealer such as Apmex or Provident Metals. Divide your precious metals between American Silver Eagles, American Gold Eagles and 90% silver. Above all do your research. A good place to start is Kitco Forums. https://www.kitcomm.com/
Silver works great as sanitizer.;-))
ok:-)
Someone will see you trying to buy a loaf of bread with a Maple Leaf and shoot you in the head for the rest. If SHTF for real, all this gold and silver won't do anyone any good. Beans and bullets will reign supreme. The land will serve as a place to hunt and raise some food. You are not going to want to interface with others with your gold when this sort of thing is going on.
If you have a place to store it, buy industrial sized reels of copper wire. There is always buyers and the government could care less that you aren’t buying gold or silver.
http://mcalvanyweeklycommentary.com - This posts every Wednesday.
http://m.financialsense.com/financial-sense-newshour - Saturday podcasts are free. Others require $10/mo subscription.
http://radio.goldseek.com/nuggets.php - once or twice a week. Some guests are pretty good.
http://tedbits.com - you have to subscribe, but is free to do so and they won't spam you. Some excellent audio or video downloads.
http://rt.com/shows/keiser-report - 2 or three shows a week. Max Keiser can be a bit silly/extreme, but I think he is entertaining and can be informative. Definitely not "PC"
:-)
IMHO...
Create a full “C” corp in Delaware (or use one you have).
Put the cash in as equity.
Under that corp, you can run a very wide array of possible businesses that you (and perhaps a small number of other shareholders) can operate.
It files and pays it’s own taxes on it’s corporate profits. You do not personally owe any income tax on those profits. Every year you make a profit, that adds to the book value of your shares, but for tax purposes you are deferring the tax until you either a) sell your shares or liquidate the firm or b) pay a dividend.
If the firm profits 10k the first year, it pays FIT out on that. The leftover profits can be left in the firm as Retained Earnings.
If you can grow the book value of that business by, say, 7% per year, on average (don’t forget you have a tremendous amount of control over the business since you own it), you’re earning that tax-deferred from a personal tax point of view, just like you owned stock in GE, for example (where you have zero control over the business).
The corp can buy gold. The corp can sell it’s gold. But gold does not produce a return by itself; it’s a commodity so you only profit if the price happens to be higher when you sell than when you buy.
You can own other companies as subsidiaries, i.e., small businesses - or properties.
This allows you to specifically buy small, local businesses that a) have a track record of positive cash flow and success and b) if the corp owns several subsidiaries 100%, it files 1 tax return for the whole lot - and the profits and losses of the subsidiaries are all netted. So a successful business that is throwing off profits and cash can be a sister company to a new business that requires a few years of investment and losses in order to turn profitable. Also, c) most importantly, you can specifically choose what companies to own according to what you know about the local area AND how well those businesses would fare in a “great depression”. The basic necessities like repairs, food, etc., are an idea. Also, things like ice cream, coffee shops, pizza joints, etc., if they do well during good economic times, often can get by during bad times because they are the cheapest extravagance that people can afford. Also, d) there is NO “hidden”, “non-public”, “insider” information that you are unaware of. Because you own the businesses - and you can know where every penny is.
Keep it private, don’t over-borrow (only for things like mortgages on commercial properties, equipment, etc.) - no “lines of credit”, etc.
With decent share buyback agreements, other shareholders can be brought in.
If a particular business starts running losses, you can shut it down before you lose your initial investment. Every year the whole shebang makes at least $1 of profit - your investment did not lose value.
Only when you withdraw capital (only on the capital gain) or take a dividend payment do you pay tax and you can wait until it’s at the long-term rate (1-year). You’ll be in Warren Buffet’s tax bracket. But if you take nothing out for the next 10 years, you’ll owe no personal tax during those years on the corp’s business operations - no matter how much profit the corp makes - it will pay its own taxes out of its own profits.
If you think you need some more knowledge first, you should go get it.
Food for thought...
Matthew 6:19
>>Not too wise too announce on the Internet that you will soon be storing $50Kin your home safe.<<
It isn’t like everyone knows I live in Grapevine, next to the Mall...
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