Replies to post #31011 on Profunds index and sector trading (PRO)

[Namiar]

I go down to the local coin store, pull out cash and buy $2000 worth of gold coins @ $300 per oz.
20 years later, I return to the coin store and sell the coins for $15000, paid cash by the proprietor.

I could probably get away with not reporting at all if I were so unscrupulous.

BTW, in order to plan this years purchase, is your assessment that gold will go higher this year?? Is there a decent likelihood of dropping back below $430? In your HO??

[basserdan]

i cant see why gains calcs are any different than for anything else
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I think coins are considered collectibles by the IRS and taxed at a long term cap gains rate of 28%.

Katrina really blew in a bullish surge in the PM's, didn't she?

Fwiw, I give the PM's 7 more trading days at the very most before the late arrivals are turned into LTBH bagholders. <ng>

Give my little Bandit a treat for me if you agree.