Tax & Financial Consulting Services
Why Buy U.S. Gold Eagles?
Recently, a client contacted me about why I thought they should by U.S. gold eagles, rather than other gold bullion coins.
I stated that for U.S. persons, unlike other forms of gold, eagles are eligible for the reduced 15% tax rate on capital gains. However, that's only true if you're in the 15% tax bracket (e.g., married filing jointly with an adjusted gross income under US$63,700).
Gold eagles along with all other forms of gold bullion are considered "collectibles." If you've held them for over one year, your gains are taxed at your marginal tax bracket. For collectibles, the maximum rate is 28%, not 35%. With future tax hikes coming after the next president enters the White House, this could be a definite savings there.
However, if you're concerned about the government confiscating gold (as FDR did back in 1933 when he gave it to the foreign bankers), you may want to purchase gold eagles instead of some other form of gold. The 1985 legislation that authorized producing the coins, now known as gold and silver Eagles, stipulates that these coins are to be considered "numismatic (collectible) items."
They're not specifically exempted from any future government confiscation of gold. However, the terms of the emergency order President Franklin D. Roosevelt issued in 1933 that forced owners of privately owned gold to sell their holdings to the government specifically exempted "gold coins having recognized special value to collectors of rare and unusual coins."
I don't think another gold confiscation is particularly likely, mainly because the takings would be pretty slim. If the federal government gets desperate enough to begin confiscating property under some emergency decree, it would likely start with assets that are easy to identify and with a much greater value. That includes real estate, stocks, pension funds, etc.
However, if you do believe a confiscation could happen, then you should consider purchasing the only coins specifically defined in U.S. law as "numismatic."
On Tonights Conference Call, you'll learn how you could:
• Safely build a gold & silver safety net – by purchasing US Mint Gold & Silver Eagle coins at a 20-30% discount already propelling you to a double digit return on your investment.
• Target gains of 341% or more in the precious metals sector as the U.S. Dollar and other leading currencies are cut down by inflation.
• Buy the right precious metal stocks or ETFs at the right prices
• And much more!
Only you can look at your "Economy" and make the decision whether you want your portfolio to go north or head south. Make sure to pass this on to all those you know who have a need or interest for this information. Time is a precious commodity and I'm ONLY interested in helping those who want help. Go to G&G Associates website for future calls or visit the "audio" library to listen to past calls.
Thursday, July 24, 2008
Tax & Financial Training Call
July is "Economic Crisis Management" month
" Step #2 Diversification "
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Tax & Financial Consultant, RFC
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LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility. G&G Associates expressly forbids from having a financial interest in any security that is recommended to our subscribers