Buying gold and silver.

[Sum1]

What is the premium on silver locally?

 

[Fester]

https://www.msn.com/en-us/money/mar...n&cvid=68e7b99600b544cf8a8acc11f1705b39&ei=23

 

[guywhofishes]

I heard precious metals prices are up.

Anybody else hear that?

 

[Sum1]

new all time highs

more to come

It wouldn't shock me to see another 25% by year's end. Time will tell.

I hope you’re right!

 

[Lycanthrope]

Silver Reaches 100% Gains YTD​

Silver just doubled. After opening 2025 at $28.92, it’s now trading at around $58.58 — a 100% gain with a month still left in the year.

Not a great sign imo... people in the know are scared

 

[Pheasant 54]

Have any of you tried explaining the price of precious metals to your elderly parents , mine are in their 90's ., They cannot wrap their head around the fact that a silver dollar is now really worth about 60 bucks . We had a single lady when I was a kid that on Christmas Eve gave silver dollars to kids at church as we left , Sure with I hadn't spent them at the 99 cent store

 

[3Roosters]

Silver Reaches 100% Gains YTD​

Silver just doubled. After opening 2025 at $28.92, it’s now trading at around $58.58 — a 100% gain with a month still left in the year.

I'm smiling as I bought a bunch of Silver at $27.54 about a yr and a half ago. Bought some Gold at $2470 an ounce also. Kinda liking it.

 

[walleyeman_1875]

At what point do you guys start to sell your gold and silver and take advantage of the massive gains? Or do you hang on to it forever and pass it on to you kids/grand kids.

 

[3Roosters]

For me personally, unless and until I need the money, I will just hold onto my holdings. Diversification.

 

[3Roosters]

Not sure this is entirely correct. Who the heck knows what my cost basis is/was if I paid in cash? I find it hard to believe how a person can be TAXED when the GOVT doesn't even know what a person paid for said commodity.

 

[Ruttin]

At what point do you guys start to sell your gold and silver and take advantage of the massive gains? Or do you hang on to it forever and pass it on to you kids/grand kids.

Forever

 

[Sum1]

Not sure this is entirely correct. Who the heck knows what my cost basis is/was if I paid in cash? I find it hard to believe how a person can be TAXED when the GOVT doesn't even know what a person paid for said commodity.

Are talking about being taxed on gold you sell?

 

[Skeeter]

I have 6 1oz gold coins I got from work 14 years ago. How Can I be taxed when I sell them when I have no idea what was paid for them??

 

[Pheasant 54]

You have to pay capital gains on it , if you don't know what you paid they will probably use the selling price for gold 14 years ago as your start point .My guess anyway

 

[Obi-Wan]

Not sure this is entirely correct. Who the heck knows what my cost basis is/was if I paid in cash? I find it hard to believe how a person can be TAXED when the GOVT doesn't even know what a person paid for said commodity.

When it comes to owing taxes to the Gov the proof is entirely in your wheel house

 

[3Roosters]

When it comes to owing taxes to the Gov the proof is entirely in your wheel house

If inheriting, am I wrong to assume my son will get a stepped up cost basis at my death?

 

[Obi-Wan]

If inheriting, am I wrong to assume my son will get a stepped up cost basis at my death?

I believe that would only apply to capital gains tax not property tax. Capital gains tax will be based on appraised value at time of inheritance and at the sale of inherited property. If he sells the inherited property for the appraised value at time of inheritance or less he will not have any capital gains tax. The property tax will be on value assessed by the county.

Anybody correct me if I am wrong on this.

EDIT - I thought I was answering on the property tax thread so ignore the mention of property tax.

 

[Big Iron]

SILVER! Get on the train. Next stop $80/ OZ

 

[3Roosters]

SILVER! Get on the train. Next stop $80/ OZ

Hope you are right as I will really be smiling!

 

[Sum1]

Anyone wanna call the top? I’m glad I got a little gold and silver but something seems a little off kilter with these prices.