Friday, August 19, 2022

Can You Sell Gold Anonymously

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Best Places To Sell Gold Coins Bars And Bullion

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The best places to sell gold are the places you know you can trust. In most cases, these will be locally owned and operated gold dealers with personnel who are most knowledgeable in valuating gold bars and coins. You want a company that has the proper equipment to measure and weigh gold accurately. Reputable gold dealers will also offer you guidance and valuable information on selling precious metals. Scottsdale Bullion and Coin meets all of these qualifications. If you are looking to sell coins, bullion or bars give us a call to get an honest, fair price for your metals.

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Selling Gold & Silver Bullion Online

Selling precious metals to an online dealer may fetch the best price because theyre operating expenses are much lower than a local coin shop that has to maintain a physical storefront.

Selling your gold or silver online to GoldSilver.com is easy. Just follow this process:

  • Enter the quantity and product description you are selling.
  • Confirm the location of your metals.
  • Confirm your account address.
  • How To Sell Gold Without Paying Taxes

    Everyone is looking for a way to do business without the governments intervention. Dont get it wrong, the government does a tremendous job with our taxes, but nobody wants it to go overboard and overcharge you for the profits. Certainly, finding out how to sell gold without paying taxes is would save you a basketful of bucks!

    How can you buy and sell gold without paying taxes? You can trade an unlimited amount of gold and not pay the tax when using the self-directed Roth retirement account. Or, you can postpone the gold taxes with the 1031 IRS exchange.

    The Internal Revenue Service requires you to report any physical gold sales on Form 1099-B. IRS believes that the sale of gold is part of income, and you must therefore submit the form and indicate the type of metal you are selling.

    In this post, well show you how to sell gold without paying a dime in tax.

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    Store Some Of Your Gold In A Safe Jurisdiction

    Because of the issues discussed above, you should store some of your gold in a safe jurisdiction where the power of politics is limited.

    Switzerland is one of the safest jurisdictions because they have seven presidents and a decentralized political system. This means that the states and the municipalities generally have a lot more power to make the rules on their own levels.

    Switzerland was founded on the principles of subsidiarity, meaning that if a municipality cannot solve an issue on its own level and needs the support of the state, then it can call on the state. But it never works the other way around. It has to be from the bottom up.

    A centralized system with one president for 320 million Americans, on the other hand, can make the rules from the top and ignore the people because they have the power. In Switzerland, no one knows the name of the president. The Swiss people have the last say and they would never allow for confiscation, theyre not that stupid. This is a unique system that you dont find in other countries.

    Liechtenstein is similar, but they have a monarch figure Prince Hans-Adam II who has veto power. However, he is a strong supporter of gold. He was involved with the Center for Austrian Economics and wrote the book, The State in the Third Millennium, where he promotes secession rights down to the municipality level, as well as sound money principles such as gold and silver.

    How Much Is White Gold Worth

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    White gold is an alloy that consists of gold mixed with one or multiple other metals, such as nickel. Because of this, there is no such thing as 24k white gold. But since it contains at least some gold, white gold will still be valuable. 18k white gold will typically be worth about the same as 18k gold. The same is true when comparing 14k white gold against 14k gold.

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    Only Physical Gold And Silver

    Anyone investigating gold and silver needs to understand that its basic function is as money. Gold was used as money for 5000 years. It was only in 1971 when Nixon went off the gold standard that the whole world began to transition into the fiat system using paper money that is not backed by gold. Before that, all paper money was backed up by gold.

    Now that the worlds currencies are not backed by government-held gold, the paper market for gold has grown immensely as people seek to buy money that is backed by a physical commodity. This is especially easy to see if you look at the commodity exchange market COMEX where they sometimes have over 500 paper claims for every ounce of physical gold regularly available at the COMEX.

    The leverage in the system is huge because so many people believe that they own gold on paper. However, if they want to claim that money, they will quickly find out that there is not enough physical gold available. Thats why, when youre buying gold as an insurance against the crash of the monetary system, make sure that you have it physically.

    Dont buy it on paper.

    Buy it physically because there are even certain paper products that do not guarantee that you actually own gold. If you purchase the biggest products from Wall Street, such as an exchange-traded fund or a GLD or even an SLD, you can actually go through the details in their terms and conditions and see that they dont even tell you if they actually have the physical gold.

    It Must Be Under Your Direct And Unencumbered Ownership

    There is an old saying, If you cannot hold your gold, you dont own it.

    This is important to understand, especially when it comes to the average person on the street who doesnt have that much money to invest in gold.

    If that is your situation, you should buy small gold coins directly and store them nearby where you live so that you have quick access to your gold storage in a harsh crisis scenario.

    If you have more money and you really want to allocate parts of your wealth into physical gold, then it makes sense to go into jurisdictions that have strong private property rights. The best jurisdictions you can find these days are still Switzerland and Liechtenstein, especially when it comes to physical precious metals stored outside the traditional banking system.

    Just make sure that whenever you select a gold storage company, you know that you are the owner of the gold, that the gold belongs to you directly, and that the company you are dealing with cannot pledge it, hedge it, or lease it out. That is vital.

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    Tips For Buying Gold In 2021

    Dateline: Bogota, Colombia

    The other day, I shared how I delayed receiving my second passport by making three basic mistakes.

    One of those mistakes was simply not letting the experts be the experts. These days, I make great efforts to not only go to the experts and pay them for the true value of their knowledge and services but, when possible, I also curate the information I gain from my network to share it with you.

    Not too long ago, my friend Claudio Grass an expert in the gold business shared the short version of his top ten tips for buying gold. Knowing the wealth of knowledge he possesses, I asked him to sit down for an interview so we could create the long version of that same list.

    His insights into the world of gold did not disappoint.

    Claudio built up a precious metal company called Global Gold several years ago that focused on trading and storing physical gold under Swiss law. After six years in the business, he resigned from the company in order to promote Switzerland as the best place to store physical money.

    From his years of experience, he has created powerful connections with the best gold companies in Switzerland and Liechtenstein many of which were previously his greatest competitors. As a gold consultant, he is now able to refer clients to the right companies, helping them create tailor-made solutions for buying physical gold and storing it in the right jurisdictions to protect their gold investments outside the banking system.

    Topics Covered

    Is There Any Government Reporting When Buying Gold Silver Or Other Precious Metal Bullion Products From Bullion Dealers

    How to sell GOLD and Buy GOLD?

    Bullion dealers are not required to report any compliant bullion buying transactions to any government agencies.

    Almost all competent high volume online bullion dealers purposely set up their payment policies to minimize suspicious order potentiality. Most competant high volume bullion dealers want to avoid manual would-be daily inspections required which could produce additional costs, time requirements, and energies expended by bullion dealer staffs in order to properly report any suspicious gold, platinum, palladium, silver bullion or other customer buying transactions to government agencies.

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    The Privacy Window For Electronic Money And Cash Is Also Shrinking

    Purchases of high-value goods with cash arent the only financial transactions to be restricted. The same goes for electronic money. European citizens are allowed to own small amounts of money in unidentified online wallets. When AML4 was implemented in 2017, the maximum amount that could be stored in these wallets was 250. AML5 reduces this to 150. Not only that, but anonymous online payments will now be capped at 50. Prior to AML5, there was no cap users could spend their entire 250 online.

    Interestingly, Germanys rules on electronic money like their rules on gold purchases have always been stricter than those stipulated by the various EU directives. Germany has implemented a 100 limit on anonymous top ups for several years now.

    Not all limitations on anonymous transactions proceed from the EUs progression of anti-money laundering directives. A number of European nations have also instituted their own general limits on the size of general purchases that can be made with cash. For instance, in France it is illegal to make any purchase with cash that exceeds 1,000, whereas Spain sets a 2,500 limit. Germany has no limit.

    The map below illustrates each nations respective regulations on cash transactions:

    Cash payment restrictions in the EU:

    -prohibitions are enforced in 16 EU members-11 EU members do not have any cash limitations in place-in Italy, limits are not applicable for non-residents-in Denmark, banks & lawyers are exempt

    John Paul Koning

    Selling Gold Is Popular

    With the economy the way it is, a lot of people are looking for ways to make extra money. Often, one of the first objects to sell is extra, unworn or inherited gold jewelry and coins. Because so many people are eager to sell gold there is plenty of opportunity for scammers to mislead people, especially when it comes to coins.

    The best thing you can do to protect yourself is to do research beforehand to know how much your coin are worth, and to know exactly where to sell gold in your area so you dont get scammed. Knowledge is power when it comes to selling gold coins.

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    Where And How To Buy Anonymously Gold For Cash In Europe

    Where and how to buy anonymously gold for cash in Europe? is theGoldivanti® Info Pack or information package, paper brochure shippeddirectly to your address revealing the information on how to buyanonymosly gold for cash in Europe. No questions asked.

    Paper copy is shipped to your designated address anywhere in theworld. This information package relates to anonymous purchase and sale ofgold bullion, gold bars and gold coins in the heart of Europe. For trulyanonymous purchases you would be required to travel to the specifiedplaces. Your gold purchase is 100% legal and safe. Even though it mayby fully anonymous.

    You would get to know following information:

    ©2009-2022 GOLDIVANTI LPGOLDIVANTI®is registeredtrademark of GOLDIVANTILP. Contact GOLDIVANTI LP for anyinquiries or contact by Telegram. Reviewthe sitemapto findthe valuablegold related resources. GOLDIVANTI LP is investment company and limited partnership that created the resources used in the Start Your Own Gold Mine business program. Business in Tanzania is conducted by Start Your Own Gold Mine Limited in contract with GOLDIVANTI LP. Business in Uganda is conducted by GOLDIVANTI GOLD LIMITED with headquarters in Ndaiga, Busia. GOLDIVANTI GOLD LIMITED is holder of Prospecting License 00009939 valid from February 12th 2018 to prospect for minerals in whole Uganda.

    The Best Places To Store Gold Offshore

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    These days, buying gold is easy. In many places, gold dealers will sell and ship directly to your door. And about anywhere you go, gold shops are a common sight. The hard part is knowing what to do with your gold and silver once you have it.

    While some people are content to hide their gold in a coffee can or bury it in their backyard, smart investors know they need to place their gold and silver in a safer place. For the internationally-minded, this means moving your bullion offshore.

    But where offshore?

    The world is a big place and not every country is made alike, especially when it comes to offshore gold storage. The following are our top picks here at Nomad Capitalist for the best countries for offshore gold storage.

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    Can I Sell My Setting Too

    Yes, you can sell your diamond and your setting. If you go through Abe Mor diamonds, theyll handle the resale of your diamond and setting. Remember that your setting will be worth the scrap gold price. So, even if you paid $2,580 for a unique setting like this one from James Allen, it will still be melted down to scrap gold. Why is that? Well, almost everyone wants a specific, custom design. Rather than reusing your ring, a buyer would prefer to have their own design created.

    While it is a financial loss to sell your ring for scrap gold, at least you are able to recuperate some of the cost. Most jewelry stores and pawn shops pay approximately 50 cents for every dollar of scrap gold value. If the value is $1,000, for example, a store will offer to buy the ring for approximately $500. At Abe Mor, however, they offer 75 cents for every dollar of scrap value. So, youd receive $750 for the $1,000 scrap gold value, instead of $500. We described how selling gold works and how you can do it in our sell-gold-for-cash article.

    Learn more about selling your setting here.

    Selling Gold & Silver Bars

    Gold and silver bars generally have high resale value, especially those bars that have been kept in professional vault storage.

    Bullion bars produced by the most reputable mints and refineries have the strongest resale value. These bars come with a seal from the mint of origin, and sometimes include a serial number for easy identification and certification. With these bars there is low risk involved in buying or selling.

    Browse our gold and silver bars

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    How To Calculate The Tax You Owe When You Sell Gold

    Take what an items worth today at the current fair market value minus the price for which it was originally purchased. If your gift, inheritance, or some other source then that will be used as a starting point and adjusted by any gain/loss in its value, from time of purchase until date sold.

    Heres an illustration:

    For example, if you paid $100 for a gold chain but later sell it for $200. Capital gains would equal 100 dollars so all told, capital gains taxes owed are $28.

    On the other hand, when you inherit or receive gold jewelry as a gift, the fair market value becomes your cost basis. For example: when someone gives you 3 rings and 2 necklaces that have an FMV of $2,000 at the time they were given to youyou get no income from this transaction because it was sold for less than its original FMV price. Therefore, you dont have to pay any tax on this transaction.

    Here Is How To Sell Your Diamond Ring

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    To sell your diamond ring for the most money:

  • Keep in mind that you will not get back what you paid for ir.
  • Dont go to Pawn Shops or local jewelry stores.
  • Try doing it yourself, but prepare to wait.
  • Abe Mor offers the best prices for 2nd hand diamonds.
  • In Response to One of Our Readers FAQ

    Occasionally, as an editor of this site, you have the pleasure of writing an article thats a direct response to our readers most common questions.

    With the high volume of email questions we receive, its always helpful to have an already prepared article that addresses a readers question or at the very least enriches his or her understanding of the topic at hand.

    The Simple Q& A

    A common question we receive is often along the lines of, I have a diamond a few years old that I need to sell. How can I get the best price possible? Is there any way I can turn a profit?

    Of course, the answer is almost always an emphatic no, and this article will address why.

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    Benefit From The Current Gold Price We’re Happy To Help

    As an experienced dealer in Vienna, we will be pleased to help you with anything you wish to know about precious metals. Feel free to contact us online. Or visit us at one of our branches in Vienna if you want to buy gold bars or coins. In doing so, you will also benefit from our friendly and personal service. Other precious metals such as platinum, palladium or silver coins have also gained importance in recent years when investing money gold, nevertheless, remains the absolute classic choice and can also contribute to the targeted preservation of your assets with our help. Simply get in contact with us at Gold & Co. your reliable contact partner for the selling and buying of gold bars and coins in Vienna and throughout Austria.

    Contact us!

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