wha is the point of buying gold bullion if...

[luke-gr]

Just in case I’m wrong and the feds show up at my door…I lost it all to compulsive gambling and rampant drug abuse.

You too?

 

[theoakman]

It's amazing how many people just don't understand the concept of money. In fact, the most common response I've seen is, "I'd rather have ammo". As if you can't buy a gun in addition to your gold. They would rather be poor and armed than wealthy and armed.

 

[Vet_from_cali]

do you have to report anything if you sell silver on ebay?

 

[decatren]

actually I was not referring to reporting it myself, rather patriot act requires dealers to register with treasury. Now I don't know if they forward purchaser names to irs or irs has to request a list of purchasers of bullion coins and what now. So say if you pay by check your name/addy is revealed. you do know you can be traced by your name and addy and not necessarily by ssn? so my question was only actually applying to the case where one uses checks to pay for gold and not cash/ no names deal. I should have explained myself better.

 

[Josh_LA]

Exactly. There is nothing that says they can't change the laws and confiscate numismatic coins too.

when I asked them that, they said

"yes, but that'll hurt themselves too" or something.

 

[Dr.3D]

when I asked them that, they said

"yes, but that'll hurt themselves too" or something.

Like they would care if they were only going to melt it all down into bars and put it into a big assed vault. (bullion depository)

 

[rapidtrends]

1. It is confiscateable
2. When you sell it, and one day you probably will, you have to report ssn to the dealer

Am I missing something?

The way I own gold it is neither:

1. Confiscatable
2. Reporting is up to me, as some private firms are not required to report