1/10oz Gold Coins Vs 1/4oz

as far as taxes-

there is a rule, if you google you can pull it up that dealers when they sell X amount of ounces of foreign gov silver and gold must be reported when sold by the IRS. Other coins sold are not reported.

When in reverse you sell to your dealer, I forget now but I believe a 1099 is filled out. I forget now if its a certain amount that triggers that form. I might have my facts mixed up. this was put in effect in 2012 I believe.

later on ill try and dig up the rules. and yes, the IRS takes a slice on the sales as was mentioned above, gold and silver fall under collectibles and must be reported.

Yes, there are. There are also quite a few "gotchas" in the tax code, hence the need for a separate "tax court". Hopefully, Congress will get busy on this and clean up the US tax code. It really is quite a mess. If Congress-critters HAD to fill out their own tax forms, you can bet that the tax laws would be MUCH simpler.

British sovereigns do sell for very close to spot but I have not seen 10 g bars selling at the same price level. The ones I have seen carry a small premium, little larger than the oz bars.

you have a good LCS. A lesser one would've sold you the coins first.

If you are worried about having to liquidate fast, go with as low a premium as possible. If not, it really doesn't matter. I personally think the copper brown shade of sovereigns is off-putting but that's the point, it's personal preference. If you are careful about your choice of venue and buyer when you are selling, any premiums you paid can be recovered.

(If you are able to get the gram bars close to spot they are a steal)

Yea, what that coin shop did was pretty nice of them, instead of sticking it to you.

Tho, I have seen, at least in buying proofs gold, most what I have seen is a higher premium for the bigger fractional sizes.

So I dunno. I guess it comes down to a budget decision but also, liquidity. Instead of big lump sums of gold that you would be selling your doing smaller sizes at a time.

If you can get name brand bars in assay cards for a reasonable price, I'd go that route. Nothing against Sovereigns but I would not buy them.

3 name brand 10g bars, serialized to the assay card with weight/fineness hallmarked on the bars and printed on the cards in which they are sealed, is a great way to buy ~ 1 toz of gold.

My "intentions/goal" are simple. I'm interested in accumulating a reasonable amount of PM coins as an alternate form of "money storage". I also happen to love the look and feel of diff coins and bars! But, as much as I love the variety and coolness of all different coins I'm trying really hard to treat this less like a hobby. So justifying excessively higher premiums to myself is sometimes a challenge.


.
Liquidity and recognizability is pretty important to me. Confidence is also important so coins more likely to be counterfeited are red flags to me. So it looks like the sovereigns are out. Even before you mentioned to counterfeiting I was turned off by them because someone who's not familiar with gold coins could never tell me their bullion value by looking at them. I'd prefer to have something with its weight in oz or grams right on it.



My first purchase in 1oz Krug, figured I should have different denominations just or versatility/diversification.

Looking around on APMEX. The additional premiums for 1/4 AGE and Krug proofs aren't that bad so I can definitely consider them. However, they also have graded proofs which go up considerably. So my question is: if paying any additional premium for proofs, can you expect to get the same resale value on non-graded proofs or does it make more sense to pay the extra premium of getting graded proofs?

Thanks