Anonymity

[Tickety]

1 hour ago, BobnotTed said:

Did CGT previously exist in the UK on the sale of sovs, and if so, when did this end?

There is no CGT on UK mintted coins.. It would be worth noting that there may be new forms of taxation in the future, just saying if the government think there is money in it they may introduce it. The government is more likely to tax your gold than confiscate it. 

[BobnotTed]

5 minutes ago, Tickety said:

There is no CGT on UK mintted coins.. It would be worth noting that there may be new forms of taxation in the future, just saying if the government think there is money in it they may introduce it. The government is more likely to tax your gold than confiscate it. 

Yes, I was wondering if CGT has previously existed in the past at some point on UK minted coins? Has the sale of sovs always been free of CGT in the UK?

[Tickety]

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.telegraph.co.uk/finance/personalfinance/investing/gold/9957508/Could-the-Government-confiscate-your-gold.html%23:~:text%3DRoosevelt's%201933%20gold%20raid%20is,unless%20they%20held%20a%20licence.&ved=2ahUKEwiAz9Do94vrAhW0QUEAHQAiBkoQFjABegQIDxAG&usg=AOvVaw1SiKYeJ0yG3nTuFnEBThkM

 

I hope this link works, talks about the "1966 gold confiscation"  I remember hearing Mr Chard talk about it on one of BYB  videos. 

[BobnotTed]

Hadn't heard of the 1966 four gold coin max before.

[Prophecy]

9 hours ago, BobnotTed said:

Did CGT previously exist in the UK on the sale of sovs, and if so, when did this end?

I don't think they ever had CGT because legal tender but VAT on them was removed in 2000.

[Prophecy]

The government is better placed to make money by changing the CGT and wealth rules than on total confiscation. 

[Prophecy]

And, as this guy jokingly shows in the US, if it does come to confiscation... NO ONE WILL CARE. 

 

[MetalGerry]

My desire for anonymity would be less about government confiscation, and more about theft and break-ins to my house.  How do I know my identify would not be leaked from the dealer at some point to where criminals can have access to it?  I have zero confidence on safeguarding data or paper records at a local mom-and-pop coin shop.  Tell me if I am being too paranoid about it….

[Tortoise]

On 22/11/2021 at 18:33, MetalGerry said:

My desire for anonymity would be less about government confiscation, and more about theft and break-ins to my house.  How do I know my identify would not be leaked from the dealer at some point to where criminals can have access to it?  I have zero confidence on safeguarding data or paper records at a local mom-and-pop coin shop.  Tell me if I am being too paranoid about it….

I don't think that is paranoid at all.  I have bought on-line from reputable dealers and one of my concerns would be that their server gets hacked.  Not sure there is a solution to that problem though.

[Centauri167]

I also buy part of my Pm's at a LCS were I do not have to show my Id-cart, also thinking that what the government doesn't know is better.

But on the other side, if they would try to do a confiscation and make gold/ silver illegal to trade with except when you sell it to them, you are screwed anyway or you must flee with it to an other country.

So my advice is, do not stress to much about it.

[MetalGerry]

6 hours ago, Centauri167 said:

I also buy part of my Pm's at a LCS were I do not have to show my Id-cart, also thinking that what the government doesn't know is better.

But on the other side, if they would try to do a confiscation and make gold/ silver illegal to trade with except when you sell it to them, you are screwed anyway or you must flee with it to an other country.

So my advice is, do not stress to much about it.

Like I said in my post, I am also not concerned about confiscation because the government will get to you one way or the other.

But I am concerned about my data getting in the hands of malicious people, or leaking of it online, and now your name and address is exposed as someone who stacks PMs.

[Centauri167]

58 minutes ago, MetalGerry said:

Like I said in my post, I am also not concerned about confiscation because the government will get to you one way or the other.

But I am concerned about my data getting in the hands of malicious people, or leaking of it online, and now your name and address is exposed as someone who stacks PMs.

My respond was more directed to the topic starter but I agree with your point.

 

On the other hand, being on a Silver Forum is also not so clever because they can trace your IP, even if you use a program to keep you safe.

[MetalGerry]

1 hour ago, Centauri167 said:

My respond was more directed to the topic starter but I agree with your point.

 

On the other hand, being on a Silver Forum is also not so clever because they can trace your IP, even if you use a program to keep you safe.

Good points, and probably deserves a separate topic on the cyber part of  anonymity...  in the end, everything can be traced, the question is how difficult you make it to do.  Unless they know someone stacks millions in assets, they're not going through the trouble of sophisticated cyber hacking directed specifically towards a single individual.  So being just a small time stacker I am not worried that much either.  But I still don't want my information to be exposed as part of a mass breach.  Hacking the entire database of dealer accounts is something common to expect.  Check the last years reports of Perth Mint accounts breached en masse.

Edited November 24, 2021 by MetalGerry

[dicker]

My approach is to take a lot of care on line don’t keep anything at home.

Two hungry Rottweilers “on point” means that only someone with a death wish would open the gate.  

[walesdave]

5 hours ago, MetalGerry said:

Like I said in my post, I am also not concerned about confiscation because the government will get to you one way or the other.

But I am concerned about my data getting in the hands of malicious people, or leaking of it online, and now your name and address is exposed as someone who stacks PMs.

Worrying data breaches do happen..... https://www.bbc.co.uk/news/technology-57932823

[MetalGerry]

4 minutes ago, walesdave said:

Worrying data breaches do happen..... https://www.bbc.co.uk/news/technology-57932823

You betcha they do.  Says right there in the article - published to the dark web.

As I mentioned, the Perth Mint was even closer to home...and that's a major worlds mint, not just some dealer...

https://www.bankinfosecurity.com/perth-mint-says-3200-customers-affected-by-data-breach-a-11521

 

[MetalGerry]

Another point that I think gets missed is that selling anonymously is a bigger problem than buying.  Here in the US some dealers still allow you to buy small amounts for cash without an ID.  But finding a dealer who is willing to buy from you and not ask for an ID is much harder AFAIK, and even if they agree, they would take maybe 1 coin at best.  Even if they don’t have to report it to the government, they still want to know who you are, in case you sell them something bad, I guess.  So you got to have plenty of time to run around town and buy/sell in very small amounts if you want to stay under the radar.  That may work for some collectors, but not so much for those who stack as assets.  Anytime you want to liquidate anything more than a trivial amount, you would have to disclose who you are, and the dealer will keep a record….. sadly I don’t see a solution to that….

[Tortoise]

On 24/11/2021 at 23:16, MetalGerry said:

You betcha they do.  Says right there in the article - published to the dark web.

As I mentioned, the Perth Mint was even closer to home...and that's a major worlds mint, not just some dealer...

https://www.bankinfosecurity.com/perth-mint-says-3200-customers-affected-by-data-breach-a-11521

 

I signed into @ChardsCoinandBullionDealer website about a week ago and it was good to see that had set up Two Factor Authentication, making their website much harder to hack.  I use https://authy.com , if anyone is interested, it seems better than Google authenticator,   and set it up no problem at all.   My congratulations to @LawrenceChard and the team for that.  I wish the other couple of dealers I have used did the same.

[LawrenceChard]

9 hours ago, Tortoise said:

I signed into @ChardsCoinandBullionDealer website about a week ago and it was good to see that had set up Two Factor Authentication, making their website much harder to hack.  I use https://authy.com , if anyone is interested, it seems better than Google authenticator,   and set it up no problem at all.   My congratulations to @LawrenceChard and the team for that.  I wish the other couple of dealers I have used did the same.

Thank you for the positive comments about account security. There are bound to be a few people who don't like the small extra effort required, but it benefits everyone. I am surprised it has taken banks and credit card companies so long to use 2FA or MFA.

Our 2FA is only for the consumer side. For our internal access, there is Multi Factor Authorisation, multiple access levels, and different systems requiring separate log-ins. Some days, I try to count the number of authorisation steps I have to take. Sometimes I think the "F" in MFA stands for something completely different!  😎

Customer details are only stored locally, and just about everything is encrypted.

We also have regular penetration tests.

There is more I could say, but won't.

I often wonder how many of our fellow dealers / competitors have similar or superior security, and how many have almost none at all.

I seem to recall there was one "bullion dealer" who got hacked a year or so ago, and is no longer in business. I can't remember their name, and I don't want to guess in case I guess wrong.

Any other suggestions for inproved security are always welcome.

 

[HerefordBullyun]

1 hour ago, LawrenceChard said:

Thank you for the positive comments about account security. There are bound to be a few people who don't like the small extra effort required, but it benefits everyone. I am surprised it has taken banks and credit card companies so long to use 2FA or MFA.

Our 2FA is only for the consumer side. For our internal access, there is Multi Factor Authorisation, multiple access levels, and different systems requiring separate log-ins. Some days, I try to count the number of authorisation steps I have to take. Sometimes I think the "F" in MFA stands for something completely different!  😎

Customer details are only stored locally, and just about everything is encrypted.

We also have regular penetration tests.

There is more I could say, but won't.

I often wonder how many of our fellow dealers / competitors have similar or superior security, and how many have almost none at all.

I seem to recall there was one "bullion dealer" who got hacked a year or so ago, and is no longer in business. I can't remember their name, and I don't want to guess in case I guess wrong.

Any other suggestions for inproved security are always welcome.

 

In todays world MFA is  definatelythe way to go. Wise decision Lawrence. It is one the best ways of securing your business out there. Good job!

[SidS]

For anonymity, buy them and ask for them gift wrapped, a present you know. You state that you don't get why anyone would want shiny metal pebbles when they could buy a new car or go on a top notch holiday, seems like a total waste of money to you, but then if that what the mother-in-law wants... You know your hands are tied! 😁

Good job it's their money and not yours 🤫

[HerefordBullyun]

1 minute ago, SidS said:

 but then if that what the mother-in-law wants... You know your hands are tied! 😁

 

Nope I always have solutions for that

[paulmerton]

3 hours ago, LawrenceChard said:

We also have regular penetration tests.

Are the reports, or at least the scope of the assessment, available for customers to see?

[LawrenceChard]

7 hours ago, HerefordBullyun said:

In todays world MFA is  definatelythe way to go. Wise decision Lawrence. It is one the best ways of securing your business out there. Good job!

Thanks, but I was slighly disppointed that you failed to provide an alternative meaning for MFA, which I was looking forward to.

😎

[HerefordBullyun]

3 minutes ago, LawrenceChard said:

Thanks, but I was slighly disppointed that you failed to provide an alternative meaning for MFA, which I was looking forward to.

😎

Well given the opportunity, I am having beans for tea as ive spent all my fiat on silver this month. So my multi flatulence authenticity will be in full swing tonight! 

Edited January 13, 2022 by HerefordBullyun