Long Position on Silver and Gold?

[Sawin]

Those of you that think PMs are the end all be all and are too smart to take profits from paper markets are missing an opportunity.

I don't think there's a single person on here that's only investing in PM's... Most are into real estate investing or the markets for a lot more money than in PM's as far as I know.

[hghclsswhitetrsh]

We talking silver and gold or real estate? Can't remember the thread name.

[Irving]

This thread went off topic, but everything has been informative thus far, in my opinion. Keep posting the articles about PM, I'm very interested.

[roberth]

We talking silver and gold or real estate? Can't remember the thread name.

Yes.

Silver.

Gold and Silver are continuing their downward spiral this morning.

I visited Dave's on Broadway near RMC, $25 per ASE including the tax. Good store, I'll go back there.

[Sawin]

I heard something this weekend from a vendor at the Loveland Tanner show that I've not heard so adamantly before. I've heard rumors, but never thought there was much merit in them... I'd like to get the crowd's opinion.

A vendor told me that the entire reason Eagles are more expensive is because they are the only American minted bullion that cannot be confiscated or reported to the IRS when sold... Now, be aware I know this gent had his own self-interest in mind because he was selling them, but basically he said all non-eagles are subject to confiscation at the governments whim. He referred back to FDR's seizing in the 30's and claimed there was a huge fine, possible jail time, and a $10K reward (in 1930's money!) for someone who turned in a person who had bullion and wasn't turning it in.

My personal position on this is the same as firearms... but how much of his sales-pitch is legitimate? Anyone have any insight into this?

[Irving]

I think that if it comes down to the gov going door to door seizing metals from people, standing there and saying "But these are American Silver Eagles," isn't going to accomolosh anything. You'd probably be handed an IOU like everyone else.

[Sawin]

I think that if it comes down to the gov going door to door seizing metals from people, standing there and saying "But these are American Silver Eagles," isn't going to accomolosh anything. You'd probably be handed an IOU like everyone else.

I agree with that, and came up with a few justifications in my mind for not buying the Eagles, but it was an interesting premise nonetheless. If the aspect of not having to report sales of any quantity of Eagles to the IRS is also a factor though, then his story might still have some foundation to consider. I just don't know yet.

[Irving]

Agreed.

[lex137]

The retailer I have gone to only accepts cash, so no paper record unless you keep a receipt. I figure if they start coming dose to door I will have more problems than them trying to take just PMs.

[Great-Kazoo]

I heard something this weekend from a vendor at the Loveland Tanner show that I've not heard so adamantly before. I've heard rumors, but never thought there was much merit in them... I'd like to get the crowd's opinion.

A vendor told me that the entire reason Eagles are more expensive is because they are the only American minted bullion that cannot be confiscated or reported to the IRS when sold... Now, be aware I know this gent had his own self-interest in mind because he was selling them, but basically he said all non-eagles are subject to confiscation at the governments whim. He referred back to FDR's seizing in the 30's and claimed there was a huge fine, possible jail time, and a $10K reward (in 1930's money!) for someone who turned in a person who had bullion and wasn't turning it in.

My personal position on this is the same as firearms... but how much of his sales-pitch is legitimate? Anyone have any insight into this?

Like the magazine and firearm issue who the hell knows what you have in your possession, UNLESS you post it over the internet?