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Gold as a strategic asset for UK investors
Posted: Wed Jul 11, 2012 12:12 pm
by Clive
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Re: Gold as a strategic asset for UK investors
Posted: Wed Jul 11, 2012 12:24 pm
by gizmo_rat
Those crazy goldbugs at the gold council are suggesting a 2.5 to 9.5 percent gold allocation, it's naked self interest gone mad.
Re: Gold as a strategic asset for UK investors
Posted: Wed Jul 11, 2012 5:19 pm
by dualstow
gizmo_rat wrote:
Those crazy goldbugs at the gold council are suggesting a 2.5 to 9.5 percent gold allocation, it's naked self interest gone mad.
hahaha!
Re: Gold as a strategic asset for UK investors
Posted: Thu Jul 12, 2012 7:36 am
by WildAboutHarry
Gains on gold coins are not taxable in the UK, right?
Re: Gold as a strategic asset for UK investors
Posted: Thu Jul 12, 2012 8:27 am
by gizmo_rat
^ Sovereigns and Britannias are legal tender, so exempt from any capital gains tax.
Other gold coins are subject to capital gains tax at 18 / 28 %.
I only know because Clive told me, it's not widely publicised. Even a coin dealer told me that Krugerrands were the investment coin of choice.
Re: Gold as a strategic asset for UK investors
Posted: Thu Jul 12, 2012 7:45 pm
by WildAboutHarry
Thanks for the information, Clive.
I wonder if there are any court cases/IRS rulings on using gold or silver US coins to make direct purchases sans capital gains. In other words, could you price a $20 item as: "I'll take two pre-1965 half dollars or a $20 federal reserve note".
Probably not.
Re: Gold as a strategic asset for UK investors
Posted: Fri Jul 13, 2012 11:45 am
by MachineGhost
WildAboutHarry wrote:
Thanks for the information, Clive.
I wonder if there are any court cases/IRS rulings on using gold or silver US coins to make direct purchases sans capital gains. In other words, could you price a $20 item as: "I'll take two pre-1965 half dollars or a $20 federal reserve note".
Probably not.
Its possible you could do a 1031 exchange with gold coins. Like property for like property exchanges have no capital gains.