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Well I guess there are several ways to go. But I do believe the GLD ETF is sill considered a collectible, and the us government takes 28% of your gains
You bring up a good point, but the IRS didn't do a tax code just for GLD, as I understand it its for capital gains on any bullion or coin sales. But I mainly hold GLD in a Roth IRA which has no capital gains at all.
I think some have a general distrust of the whole securities system, I know my Mom did. When my dad started investing in the stock market in the 70's, mom was always saying he was going to lose all his money in stocks. I mean after all all he had to show for his cash was a stock certificate with the # of shares printed on it...just a piece of paper (they used to actually give you those). He left mom very comfortable when he died with his profits.
If anyone wants to take delivery of the gold in GLD all they have to do it log on to their broker's website and click the sell button, then after a few days to clear the funds send a check to your favorite bullion dealer for the physical stuff.
I mean people don't buy Apple stock and expect to be able to take delivery of ipads at any time do they?
Edited by GoThunder
08/09/2011 9:56 pm
Posted 08/09/2011 7:47 pm
