I am going to catch a lot of flak for writing this short article, but I really want to prevent first time gold bullion coin buyers from being ripped off… often by their own Governments.
While silver has steadily increased in its commercial use in electronics and the demand for electronics will continue to increase, there is a surprising increase in coinage. With the demand increasing heavily in silver coins and metals there is bound to be price spike like we have never seen before. Why is that? Well instead of just a few private investors purchasing silver as a store of wealth and a company purchasing it for their products there has been a vast influx in private purchase by average citizens. Silver is now an internationally purchasable commodity that can be bought through world-wide coin dealers, on the internet and even at your local
To earn the spread you simply act like a market maker. Offering the cheapest gold – just, and bidding the highest to sellers – again just. If you manage to buy and sell and take the small spread, you’re making the market, just like the professionals although probably with smaller deal sizes. BullionVault is absolutely unique in offering this to the private investor, and don’t think for a moment that private buyers can’t cope. They love it.
Frustrated after three days of dealing with their customer service, we filed a complaint with the Better Business Bureau. Because their website guarantees payment within 24 hours (actually, if you read their site, they claim they are the only company in their industry to do this, and they don’t), it was filed under false advertising and failing to abide by guarantees. This was 5 days after they received our package, and we got payment only after we filed our complaint.
No. Gold raises no taxable income which is what is ordinarily reportable at source. All users are responsible for reporting gains appropriately to their own tax authorities.
Your eagle-eyed readers will spot that this mechanism depends on there being a main market in gold. Here we can only look to history. Liquidity in most other forms of wealth, like currency and securities, comes and goes, and when it goes it is usually permanent, signifying the worthlessness of the underlying asset after a few decades of usefulness. Nothing has lasted like gold – or come anywhere close – through about 4,000 years.
Anyway, that’s the news from beautiful San Diego today. Keep your hands on your wallet, run to the nearest coin shop and buy gold coins and silver coins in the amounts that you can truly afford and hang in there. Silver is also expected to rise in value in the coming because of the declining world economies.