Chunk of Gold
Hi Friends,
As a precious metal investor, I like to buy a variety of things. I wanted to share a recent pick up of a gold nugget... check it out:
This is 2.3 grams of gold from Mohave County, Arizona. These natural gold nuggets are super cool, I just wish I could find them myself! I hope to find one this size one day, but for now, I am just adding it to the gold pile.
This was my second purchase from NaturalGoldTrader.com and I have had great experiences both times. Check them out if you are interested in buying gold specimens like this. They threw this 1/10th ounce silver round in for free as well:
Minted fractional gold is so expensive these days - for a 1/10th ounce gold American Eagle, you are paying $260 ($190 is spot price), and then you have 10% sales tax (in California) of $26 on top of that, so, out the door, you are paying $286 for $190 worth of gold - too expensive! Buying a full ounce is a much better idea when it comes to premiums, but they are hard to resell any higher than spot price and its tough to find buyers when the price is $2,000+ for a one ounce gold coin. A stackers dilema for sure.
Thanks for coming by!
Brian
Ohh ...sales tax on precious metals, I am lucky that in Washington there's no sales tax, it is considered money.
They really do jack up the price on fractional gold premiums, it makes it difficult to stack at a reasonable value....
My state added sales tax a year or two ago to online purchases and suddenly the cost of buying any bullion was not worth it. It was actually cheaper to ship it to another state without sales tax have a family member mail that to me. I've only being buying through ETFs now and gold miners.
Gold miners have are an amazing deal right now, since most have positive free cash flow
I guess they were looking for any way to tax precious metals my friend....
Yeah, 10% is brutal when it should be 0
In Austria there is no sales tax on gold and also no capital gains tax, if the gold is held longer than 1 year.
That would be great.... sounds like I need to move!