Silver investors lost their asses over the last 8 years. | |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 01:38 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76526212 United Kingdom 05/05/2018 01:44 AM Report Abusive Post Report Copyright Violation | |
bro tim User ID: 73686302 United States 05/05/2018 01:47 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 01:50 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 01:50 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 01:57 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76540404 United Kingdom 05/05/2018 01:57 AM Report Abusive Post Report Copyright Violation | I just watched a YouTube video of some guy saying college is a scam and he was buying silver at $36 an Oz back in 2011. He was thrilled to be making a profit of $4 an Oz. I guess he doesn't know about the taxes and fees How do the irs find out when you sell on ebay etc? |
SNOWIE User ID: 76534011 United States 05/05/2018 02:01 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 02:06 AM Report Abusive Post Report Copyright Violation | I just watched a YouTube video of some guy saying college is a scam and he was buying silver at $36 an Oz back in 2011. He was thrilled to be making a profit of $4 an Oz. I guess he doesn't know about the taxes and fees How do the irs find out when you sell on ebay etc? You better just hope you don't get audited and they check cash deposits in your bank account. Also, they dealers who buy silver have records and sometimes report it. The IRS has other ways of finding out. |
FissionSurplus User ID: 76490488 United States 05/05/2018 02:06 AM Report Abusive Post Report Copyright Violation | There's a group of men in London who decide the silver price twice a day (and the gold price, once a day). It is not necessarily market driven. They have their paper ETFs which are quick a bronco ride, if you are so inclined. The physical silver has been kept artificially low for years, and we're powerless to do anything about it. There will come a day when the physical silver will be worth a lot more, and that's what I'm waiting for. No I can't eat silver, but I got food and an underground aquifer of the sweetest, most pure water ever. The silver is for later. Covering all the bases. Besides, I like to look at the new ones. They're shiny. |
Anonymous Coward User ID: 55721322 United States 05/05/2018 02:16 AM Report Abusive Post Report Copyright Violation | Not if you bought at $7.00 and sold at $40.00 ( ; ) and you can eat the Canadian Silver Maples that are .9999 for making colloidal silver... but not the U.S. dollars that are only .999 Silver is too heavy...to carry but may be leveraged with gold in the next upswing...or not ! ( ; ) A few hundred ounces along with some "junk silver" for change... might be useful for trade... but so is lead and brass... wheat, corn, rice,oatmeal, beans, and oil/fats, salt, sugar, honey, spices... are for eating...packed in 5 gal.buckets with mylar bags and oxygen absorbers. |
Anonymous Coward User ID: 55721322 United States 05/05/2018 02:17 AM Report Abusive Post Report Copyright Violation | Ecclesiastes 12:9 Not only was the Teacher wise, but he also imparted knowledge to the people. He pondered and searched out and set in order many proverbs. Proverbs 9:9 Give instruction to a wise man, and he will be yet wiser: teach a just man, and he will increase in learning. Proverbs 21:20 There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up. ... ... Luke 12:42 The Lord answered, “Who then is the faithful and wise manager, whom the master puts in charge of his servants to give them their food allowance at the proper time? Matthew 10:16 Behold, I send you forth as sheep in the midst of wolves: be ye therefore wise as serpents, and harmless as doves. |
Anonymous Coward User ID: 68967809 United States 05/05/2018 02:33 AM Report Abusive Post Report Copyright Violation | In September 2011 Silver dropped to $31 an Oz. You lost $4 an Oz. The last chance you had to get out even on his investment was one year later. Quoting: Anonymous Coward 76536385 Two years later in Aug 2013 silver was at $25 an Oz. Ever since then silver has gone down to $16 an Oz and stayed around there until 2018. If you didn't get out he has lost a lot of money. You didn't mention that any profit on silver you make has to be reported to the IRS. If you sells it as bullion it's a 28% capital gains tax. When you buy silver you normally have to pay an extra fee on top of spot price and when you sell silver you have to pay an extra fee too. Normally you don't get to buy it at spot price unless you're buying 10 Oz or more. You said you were only buying it one Oz at a time. That means you were probably paying 10% over spot price. Let say you pay 10% over spot price for one Oz silver and sell it at 10% of it's current value. Then you have to pay the 28% capital gains tax when he sells it as bullion. Also, you probably had to pay extra for shipping and handling at least once. Lets add an additional 5% for shipping and handling. You would have to make 53% profit on each Oz of silver to cut even. Does that sound like a good investment to you? Lets assume you sold your silver in Aug 2011. Silver was $44 an Oz. You had 50 Oz of silver too. You paid $175 in fees buying the silver. Lets assume you pay another $175 selling the silver. You made $8 per Oz on 50 Oz of silver, which is $400 profit. You owe 28% tax on that profit, which is $112. You paid $300 buying the silver and selling the silver. You paid $88 or %5 in shipping and handling of that silver. Which means You lost $100 after selling it assuming you sold it at $44 an Oz which was the highest silver has been since 2011. Currnetly silver is $16 an Oz. If you sold it at $16 an Oz you lost a lot of money and you could only get relief by using that loss as a tax write off. Not losing if you hold on to it. |
Anonymous Coward User ID: 76540394 United States 05/05/2018 02:53 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 29174545 United States 05/05/2018 03:08 AM Report Abusive Post Report Copyright Violation | |
mondali2 User ID: 76546226 Thailand 05/05/2018 03:24 AM Report Abusive Post Report Copyright Violation | That is the most ridiculous Op I have seen in a while. Bought 4 pounds of silver at $3 per ounce. another 50 oz at $7. Don't sell it to dealers and you pay no taxes, cash transactions only. I pay no taxes any way haven't for over 20 years. I do not voluntarily use FRN. You shouldn't either. This is why you have to pay taxes, you haven't objected yet. lol mondali2 |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 03:27 AM Report Abusive Post Report Copyright Violation | I bought a lot of silver when it was down around $20. So if I were to sell now, I would lose my ass. So I keep it and just wait. I have eternal patience for this sort of thing. Quoting: FissionSurplus There's a group of men in London who decide the silver price twice a day (and the gold price, once a day). It is not necessarily market driven. They have their paper ETFs which are quick a bronco ride, if you are so inclined. The physical silver has been kept artificially low for years, and we're powerless to do anything about it. There will come a day when the physical silver will be worth a lot more, and that's what I'm waiting for. No I can't eat silver, but I got food and an underground aquifer of the sweetest, most pure water ever. The silver is for later. Covering all the bases. Besides, I like to look at the new ones. They're shiny. Don't forget to factor in inflation after all those years of waiting. |
Anonymous Coward User ID: 74422807 Spain 05/05/2018 03:36 AM Report Abusive Post Report Copyright Violation | That is the most ridiculous Op I have seen in a while. Quoting: mondali2 Bought 4 pounds of silver at $3 per ounce. another 50 oz at $7. Don't sell it to dealers and you pay no taxes, cash transactions only. I pay no taxes any way haven't for over 20 years. I do not voluntarily use FRN. You shouldn't either. This is why you have to pay taxes, you haven't objected yet. lol FRN? I assume that means federal reserve notes, or paper money....how do you get around not using them? |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 03:45 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 76536385 Belgium 05/05/2018 04:00 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 75684849 United States 05/05/2018 05:27 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76503390 Canada 05/05/2018 05:38 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76536692 Australia 05/05/2018 05:42 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76537171 Canada 05/05/2018 05:45 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76503390 Canada 05/05/2018 05:49 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 75357389 United States 05/05/2018 05:50 AM Report Abusive Post Report Copyright Violation | I must be old....I bought my silver position at <$3.00 Oz.....since its a worst case scenario insurance plan, I still have them.... Quoting: Anonymous Coward 76540394 Silver is overproduced and is no longer money. It used to be money. That's why they stopped minting currency with silver because it is overproduced, yeah? |
Anonymous Coward User ID: 53927732 United States 05/05/2018 05:53 AM Report Abusive Post Report Copyright Violation | |
BRIEF User ID: 39607259 United States 05/05/2018 05:57 AM Report Abusive Post Report Copyright Violation | |
BRIEF User ID: 39607259 United States 05/05/2018 05:58 AM Report Abusive Post Report Copyright Violation | I must be old....I bought my silver position at <$3.00 Oz.....since its a worst case scenario insurance plan, I still have them.... Quoting: Anonymous Coward 76540394 Silver is overproduced and is no longer money. It used to be money. It's absolutely money. Go to any coin shop or numismatist. I never forgive and I never forget I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked. |
Anonymous Coward User ID: 76247325 United States 05/05/2018 06:16 AM Report Abusive Post Report Copyright Violation | |