Selling Gold ETF to Buy Coins - Reason To Wait?

Discussion of the Gold portion of the Permanent Portfolio

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Coffee
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Selling Gold ETF to Buy Coins - Reason To Wait?

Post by Coffee »

I'm unclear on this: If I want to sell some shares of my gold etf and then buy some K-Rands in roughly the same amount-- is there some tax reason I need to wait 31 days?

Thanks.
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melveyr
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Re: Selling Gold ETF to Buy Coins - Reason To Wait?

Post by melveyr »

My research has indicated that collectibles are not subject to the wash sale rule.
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Coffee
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Re: Selling Gold ETF to Buy Coins - Reason To Wait?

Post by Coffee »

I'm not sure what the wash sale rule is (off to google). 

Are K-rands considered collectibles? 
"Now remember, when things look bad and it looks like you're not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. 'Cause if you lose your head and you give up then you neither live nor win. That's just the way it is. "
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Re: Selling Gold ETF to Buy Coins - Reason To Wait?

Post by Pointedstick »

Coffee wrote: I'm not sure what the wash sale rule is (off to google). 

Are K-rands considered collectibles?
All physical gold bullion is, I believe.
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smurff
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Re: Selling Gold ETF to Buy Coins - Reason To Wait?

Post by smurff »

The ETFs also decay in value over time, so they are not one:one equal to bullion.
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WildAboutHarry
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Re: Selling Gold ETF to Buy Coins - Reason To Wait?

Post by WildAboutHarry »

Wash sale rules only apply if you are claiming a loss.
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Re: Selling Gold ETF to Buy Coins - Reason To Wait?

Post by dualstow »

I thought I'd give this topic a bump because I am considering selling some gold ETFs at a small loss while buying gold coins, and I was concerned about triggering a wash sale. Looks like it's not an issue. So, if anyone else was considering doing the same...here's the thread.

{ Why sell at a loss?
    Well, I want to sell share-lots that are close to breakeven, but I also want to be rid of GTU and PHYS altogether, and a loss will make the paperwork easier since I didn't make an election when I bought shares. }
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