Loading ...my investing buddy says the following:
“If you exchange it for dollars, then you take a loss immediately (if you live in the USA) as the IRS will take the increase in price at 28% plus your state may add another 5 or 10%. Then you begin taking losses as the dollar resumes its slide once again.”
I’ve never sold bullion, but that sounds like a rip off to me. So when people go to a coin shows, a dealer etc. and sell a coin who reports who?
And how about the part where I take losses after the dollar resumes it slide and losing money? Um hello when the dollar slides the price of gold usually goes up not down (recently this has not been true I know). Why the dollar and gold have this irrational relationship of high dollar, pretty high gold? It tells me people around the world are hiding in dollars instead of euro.