INSECURE DEPOSITORY METAL

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#1 Tue, Jul 21, 2020 - 1:21pm
roger12
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INSECURE DEPOSITORY METAL

I just heard a famous YouTuber say depository metal will be stolen plus I am having a little trouble with my depository with my last 2 purchases (they claim I need to keep it in my account at their depository for 3 months because I owe tax and they do not collect any tax so somehow it's all fine after 3 months?). Becoming concerned about what to do with all my physical metal. Everything I have saved is in metal and I live in a small apartment what to do?

Fri, Jul 24, 2020 - 8:24am
4 oz
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Spokane, WA
Joined: Dec 11, 2013
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That's a tough situation Rogertwelve

You should have at least some of your PM's there at your apartment. You gotta start somewhere and make improvements as you can over time. You can probably find an old sock and stash a few coins or bars in it and then stick it way up into a heavy boot or shoe type of thing..... If you are wise enough to be obtaining PM's you'll come up with ways to protect them; Wishing you the best!

Fri, Jul 24, 2020 - 10:41am
sierra skier
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Owing Taxes Before any Capital gains.

You should have no tax liability until you sell for a profit if even then. Their claim sounds incorrect from what I know as to any requirement for you to be owing any taxes at this point. If/when you have a capital gain that is taxable after selling is when there would be any concern.

Sat, Jul 25, 2020 - 10:00am
Pemaquid
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Loris, SC
Joined: Aug 28, 2016
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1000 oz silver bars

Has anyone here ever dealt with one and then try to resell.I am sure they have to be sent to a big online dealer.I have metal stored through ownx. Never had an issue. They say they always have 1000oz bars in stock to redeem. My fear is that as the price rises inventory evaporates.

Tue, Aug 4, 2020 - 3:59pm
Saxon888
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Sprott AG fund is the only one I’d trust if no physical

PSLV

Stacker 100% Awake

Wed, Aug 5, 2020 - 2:26pm
11IMIX
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Chicago, IL
Joined: Aug 31, 2011
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Buy phyzz

Take delivery on your phyzz. If storage is an issue buy gold. Takes up no space. wtf ?

I miss my old dog.

Wed, Aug 5, 2020 - 2:29pm
11IMIX
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Joined: Aug 31, 2011
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When's the last time ....

When's the last time you heard a story that went something like this..... " I was sitting at home minding my own business and some hooligans kicked down my front door and demanded all my gold and silver ?" How about never. The pill popping methheads of today will be looking for toilet paper, cash and electronics. Maybe tennis shoes.

I miss my old dog.

Sun, Aug 16, 2020 - 3:09am
Tyrion
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Joined: Aug 13, 2020
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vault storage

Okay Roger, here you are in the not really distant future. WW3 and civil unrest is blasting all over the news. Supply chains in your town are breaking down. Our "leaders" have entered trade wars with most of the world without thinking it through super well. The latest local tidbit is that the truck driver that usually delivers groceries to your closest store won't deliver due to safety reasons. When you do get deliveries, the prices are very high to account for the cost of security as well as shortages. Banks don't trust each other for short-term credit, even further whittling away at the supply chains. Your local organized crime boss doesn't accept Visa or checks, nor does he remotely grok Bitcoin. He wants silver for protection money. You get on the phone to your vault guy, whom you wisely chose because he's in a different country. Cell phone coverage has been spotty lately, but you finally get through. Unfortunately, there has been a moratorium upon precious metals deliveries from that country while the authorities there discuss whether that depository will be nationalized.

randomness