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Silverhawk

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  1. Where can you convert silver into gold? When the ratio falls to near 50 I want to trade my silver for gold. But I have a few questions on executing the trade. 1) Where? Where do I take/send my silver to trade for gold? The big bullion companies will only purchase, not trade, and only wire transfer into my bank account which leads to my second question. 2) My accountant says I need to pay capital gains taxes since it's a sale. Also he says that a long held silver sale is based on the cost of silver at the time of purchase. Example: In 1987 silver averaged $7 per oz. so I would be taxed on (if I sell @ $24.50 price today) a $17.50 capital gain on each oz! So according to my accountant I would be taxed about 30% of $17.50 per oz! And that's if I sell today. If I wait until silver hits $50 to sell I'm really screwed. So this seems ridiculous and mostly negates the reason for the trade. Appreciate any discussion on this. Interested in others plans and ideas concerning ratio trading. Read the thread below. The result is that you CANNOT trade silver for gold unless you like getting hosed.
  2. Where would you trade your silver for gold at 50? And how do you avoid getting reamed?
  3. Thank you. I am in USA and I surpass the allowance every year. I have been reading for years about the silver/gold ratio and how people trade back and forth when the ratio allows but I never gave much thought to the execution of the plan. After looking into it a bit I really don't see how this can be done without getting thoroughly reamed, and makes me question the "experts" that have been talking about trading the ratio.
  4. When the ratio falls to near 50 I want to trade my silver for gold. But I have a few questions on executing the trade. 1) Where? Where do I take/send my silver to trade for gold? The big bullion companies will only purchase, not trade, and only wire transfer into my bank account which leads to my second question. 2) My accountant says I need to pay capital gains taxes since it's a sale. Also he says that a long held silver sale is based on the cost of silver at the time of purchase. Example: In 1987 silver averaged $7 per oz. so I would be taxed on (if I sell @ $24.50 price today) a $17.50 capital gain on each oz! So according to my accountant I would be taxed about 30% of $17.50 per oz! And that's if I sell today. If I wait until silver hits $50 to sell I'm really screwed. So this seems ridiculous and mostly negates the reason for the trade. Appreciate any discussion on this. Interested in others plans and ideas concerning ratio trading.
  5. False alarm. Its a 1972-S. The coin I thought I had was a 1972-P Type 2 which brings 6 figures. I ran upstairs and told me wife, "Honey! We're gonna be rich!" but it was not to be...
  6. Is this 1972 Ike Dollar a Type 1, 2, or 3? My old eyes can't squint it out. Thank you.
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