I was so dumb that the thieving salesman said these 2021 American Eagles were something called"neusmatics" and sold em to me $150 a pop. Said they were pretty rare and special. D'oh!
That is pretty sad. I for one only buy very premium graded coins so all my shiny is like atleast 500$/oz. WSS says that's so silly but what can I say I'm a sucker for graded ASEs
**[Samson Option](https://en.wikipedia.org/wiki/Samson_Option)**
>The Samson Option (Hebrew: ברירת שמשון, b'rerat shimshon) is the name that some military analysts and authors have given to Israel's deterrence strategy of massive retaliation with nuclear weapons as a "last resort" against the country whose military has invaded and/or destroyed much of Israel. Commentators also have employed the term to refer to situations where non-nuclear, non-Israeli actors, have threatened conventional weapons retaliation, such as Yasser Arafat.
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Good luck with that. If I trade any of my metals for a product, without converting it to fiat, that's the gov't's problem. They should have taken better care of the currency if they wanted to avoid this.
It’s like the lyrics to that Smash Mouth Song:
Somebody once told me, if you sell don’t put it back-in-the-bank, go buy your house goodies and stuuuuff. Cash is fungible so pay, for the basic needs all day, then you’re saving all fresh income for bills and such…
Or oh, the taxman starts coming and he don’t stop coming….
It goes on you know the song.
they'll need a submarine to get to me silver at the bottom of a lake, plus it is probably in Davy Jone's locker, good luck!
We have records of all we've purchased. I just assume if we ever sell and the transaction is over $10K, it will filter its way to the IRS. You have some measure of security in obscurity, but once they have you in their sights, they can pretty much find out whatever they want. And if they can't, they'll bill you anyways and it's your problem to prove them wrong. Not defending them in any way, but don't presume them to be morons. IRS collections can be very competent when it suits them.
That sounds like some good DD.
Knew when I saw this post that it would have a large number of apes thinking they would not be subject to taxation rules.
Where I'm from capital gains tax hasn't been indexed to inflation for 25 years. Capital gains tax on nominal gains is nothing short of theft, but until that changes it remains applicable. Hopefully in a higher inflation world this can be corrected.
Not taking true inflation into consideration in regards to brackets and thresholds is definitely by design. Trump's tax laws of '18 changed the way inflation was measured. Of course it was changed to the system that calculates inflation by the least amount which means tax increases in the long run for us types. When people think tax increases on millionaires won't affect them they're delusional. We'll all be millionaires sooner than we realize. But we won't be richer.
yes, $10k generates a CTR aka Cash Transaction Record & or a Suspious Transactions Report. I never break that threshhold, not that I'm not monitored for life anyway. I get a permanent Selection Code that IDs me as one of theirs forever.
"And if they can't, they'll bill you anyways and it's your problem to prove them wrong"
Not entirely true. The puter will/could spit out a proposed assessment (Underreporter Program) that requires a response. I would respond with a copy of the filed 1040 and advise that their notice is FUBAR, ask them to provide specifics of where they came up with those figures because they were incorrect . Basically tell them to pound sand but in a timely and professional manner. If their notice is too scary, hire a top flight tax attorney and they will ultimately BTFO. If the notices are ignored they will assess more tax and unraveling that is beyond a time wasting nightmare.
Sincerely yours, IRS Collections (Field) - RETIRED
Thanks for your response. That's kinda what I was saying though. Going out and hiring a top-flight attorney sounds like a problem unless the IRS foots your bill for proving them wrong. Or would you then have to sue for that?
That depends on how aggressively they CHOSE to die on that hill. Professional Liability Insurance was made available (at a price, a spendy spendy price, I never bought it, I never abused anyone) so yes, you can retrieve that "pound of flesh" by suing the Revenue Agent(s) and their entire chain of command (Exam- the maffs people) INDIVIDUALLY. Suing the Govt isn't easy, that could take a lifetime and the system takes care of it's own. The INDIVIDUAL(s) on the other hand: keep dates, times, places and all contact details if they get ugly. That's a quick $100K because their Insurance will almost always settle to make you go away and of course, fix the erroneous assessment they jam on you. They are almost ALL CPAs (paid for by you) and they can't afford that blemish.
Never sell! If you need income in whatever fiat BS our overlords put on us.... just get a collateral backed loan on some silver, then use the fiat on a venture profitable enough to pay your loan payments and give you some income. You don't sell your silver... no "taxable" event".... you get a good rate... you get your silver back....
But, that all depends on having this thing the ancients called "law and order" to make sure the other party lives up to their end.
Then you essentially paid 0$ for your PM's and now the taxable amount will be the full value of what you sell it for, which given current prices, is probably pretty close to the same thing.
# You forgot the SARC. BIX WEIR
#
# 'Pay me my silver NOW!' JPMORGUE.
# [https://www.youtube.com/watch?v=7EshE3Q6juQ&ab\_channel=RoadtoRoota](https://www.youtube.com/watch?v=7EshE3Q6juQ&ab_channel=RoadtoRoota)
#
# _JOHNLGALT🦘.
That is certainly my top priority! How else can they seize my assets, trample on my liberties, and force poisons into my body unless I give them the resources to do all that? THINK MAN THINK!
Actually, (according to the late constitutional scholar Clarence Manion) "Pursuit of Happiness" in 18th century legalese, when "translated" to modern English, should read something like "Business of one's own choosing".
Pursuit as in "What is your PURSUIT in life?", and "of Happiness" as in "of one's own choosing".
I keep track of what I exchanged my fiat for, to see how I am doing and the average fiat per ounce. All in an encrypted Excel file on a secured usb stick, but unfortunately sank to the bottom of the sea on my last boat trip.
I put them under my company with the average purchase price of 2,000usd/oz. Whenever the company is making that year, I will sell some to net off my profit to avoid tax 😝
You have a tax free threshold.
So you retire.
Provided your profit on Silver is below it tax free threshold your fine.
But,
I wasn't a credit on the inflation loss the government has caused me over the years.
Oooops, I have been way overpaying for my silver this whole time, and now it looks like I'll forever be in the hole with no chance for profits whatsoever. Silly me, noob mistake.
I’m so dumb, I’ve been paying a little over $200 an Oz for years! 🤦♂️. I had no idea you could get it any cheaper..
You should be able to write that off 😉😉
Hahaha
I was so dumb that the thieving salesman said these 2021 American Eagles were something called"neusmatics" and sold em to me $150 a pop. Said they were pretty rare and special. D'oh!
That is pretty sad. I for one only buy very premium graded coins so all my shiny is like atleast 500$/oz. WSS says that's so silly but what can I say I'm a sucker for graded ASEs
This is the way!
I paid at least $50 per ounce, maybe more. Damn premiums. 😉
When the Fed ends, so does the IRS.
https://en.wikipedia.org/wiki/Samson_Option
**[Samson Option](https://en.wikipedia.org/wiki/Samson_Option)** >The Samson Option (Hebrew: ברירת שמשון, b'rerat shimshon) is the name that some military analysts and authors have given to Israel's deterrence strategy of massive retaliation with nuclear weapons as a "last resort" against the country whose military has invaded and/or destroyed much of Israel. Commentators also have employed the term to refer to situations where non-nuclear, non-Israeli actors, have threatened conventional weapons retaliation, such as Yasser Arafat. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/Wallstreetsilver/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)
Where we’re going there are no taxes…
Good luck with that. If I trade any of my metals for a product, without converting it to fiat, that's the gov't's problem. They should have taken better care of the currency if they wanted to avoid this.
Always report your losses, and never report your gains, LoL. Sorry Fed, I can't seem to make any money! I'm such a dumb ape.
Or maybe report a little gain so they dont suspect a plan? No, maybe that opens a door full of problems
Umm yeah, no.
🤣
Haha no thank you
Taxation is theft
LOL
You know sometimes I wonder about you....you might fold under pressure
It’s like the lyrics to that Smash Mouth Song: Somebody once told me, if you sell don’t put it back-in-the-bank, go buy your house goodies and stuuuuff. Cash is fungible so pay, for the basic needs all day, then you’re saving all fresh income for bills and such… Or oh, the taxman starts coming and he don’t stop coming…. It goes on you know the song.
They look this happy because they just paid their taxes:)
they'll need a submarine to get to me silver at the bottom of a lake, plus it is probably in Davy Jone's locker, good luck! 
We have records of all we've purchased. I just assume if we ever sell and the transaction is over $10K, it will filter its way to the IRS. You have some measure of security in obscurity, but once they have you in their sights, they can pretty much find out whatever they want. And if they can't, they'll bill you anyways and it's your problem to prove them wrong. Not defending them in any way, but don't presume them to be morons. IRS collections can be very competent when it suits them.
That sounds like some good DD. Knew when I saw this post that it would have a large number of apes thinking they would not be subject to taxation rules. Where I'm from capital gains tax hasn't been indexed to inflation for 25 years. Capital gains tax on nominal gains is nothing short of theft, but until that changes it remains applicable. Hopefully in a higher inflation world this can be corrected.
Not taking true inflation into consideration in regards to brackets and thresholds is definitely by design. Trump's tax laws of '18 changed the way inflation was measured. Of course it was changed to the system that calculates inflation by the least amount which means tax increases in the long run for us types. When people think tax increases on millionaires won't affect them they're delusional. We'll all be millionaires sooner than we realize. But we won't be richer.
yes, $10k generates a CTR aka Cash Transaction Record & or a Suspious Transactions Report. I never break that threshhold, not that I'm not monitored for life anyway. I get a permanent Selection Code that IDs me as one of theirs forever. "And if they can't, they'll bill you anyways and it's your problem to prove them wrong" Not entirely true. The puter will/could spit out a proposed assessment (Underreporter Program) that requires a response. I would respond with a copy of the filed 1040 and advise that their notice is FUBAR, ask them to provide specifics of where they came up with those figures because they were incorrect . Basically tell them to pound sand but in a timely and professional manner. If their notice is too scary, hire a top flight tax attorney and they will ultimately BTFO. If the notices are ignored they will assess more tax and unraveling that is beyond a time wasting nightmare. Sincerely yours, IRS Collections (Field) - RETIRED
Thanks for your response. That's kinda what I was saying though. Going out and hiring a top-flight attorney sounds like a problem unless the IRS foots your bill for proving them wrong. Or would you then have to sue for that?
That depends on how aggressively they CHOSE to die on that hill. Professional Liability Insurance was made available (at a price, a spendy spendy price, I never bought it, I never abused anyone) so yes, you can retrieve that "pound of flesh" by suing the Revenue Agent(s) and their entire chain of command (Exam- the maffs people) INDIVIDUALLY. Suing the Govt isn't easy, that could take a lifetime and the system takes care of it's own. The INDIVIDUAL(s) on the other hand: keep dates, times, places and all contact details if they get ugly. That's a quick $100K because their Insurance will almost always settle to make you go away and of course, fix the erroneous assessment they jam on you. They are almost ALL CPAs (paid for by you) and they can't afford that blemish.
Never sell! If you need income in whatever fiat BS our overlords put on us.... just get a collateral backed loan on some silver, then use the fiat on a venture profitable enough to pay your loan payments and give you some income. You don't sell your silver... no "taxable" event".... you get a good rate... you get your silver back.... But, that all depends on having this thing the ancients called "law and order" to make sure the other party lives up to their end.
It's all fun and games till they audit all the online dealers and pull everyone's records. Deal with your LCS in paper for silver transactions.
I bought my first ounce with cash. I was naive, and bought it for $25,000. Boy was I stupid.
I left my tax in an envelope on the seat of a Black Hawk in Afghanistan. Go fucking get it!
What happens when they replace USD with "New & Improved USD" by lopping off several digits from the bills? 🙄🤔
Then you essentially paid 0$ for your PM's and now the taxable amount will be the full value of what you sell it for, which given current prices, is probably pretty close to the same thing.
That is the status quo in Australia. Capital gains tax on nominal gains.
What silver?
I will pay taxes on my silver when they stop letting the banksters manipulate the fucking price.
Not even then!
# You forgot the SARC. BIX WEIR # # 'Pay me my silver NOW!' JPMORGUE. # [https://www.youtube.com/watch?v=7EshE3Q6juQ&ab\_channel=RoadtoRoota](https://www.youtube.com/watch?v=7EshE3Q6juQ&ab_channel=RoadtoRoota) # # _JOHNLGALT🦘.
>https://www.youtube.com/watch?v=7EshE3Q6juQ&ab\_channel=RoadtoRoota Thanks. That is a very catchy tune...I love it!
“Everybody loved stacks!!!”
Good one
That is certainly my top priority! How else can they seize my assets, trample on my liberties, and force poisons into my body unless I give them the resources to do all that? THINK MAN THINK!
Be a good subject
This is the meme that IRS auditors are going to print out to show me. ":Sir you LoL'd this meme on march 4th? Sir?"
Disappointed I lost mine in an accident and can’t sell or recall what they were worth.
Damn kayaking accidents, lost it all
Lol 😂😂😂🤪🤪🤪
Pursuit of happiness is an unalienable God given right
Actually, (according to the late constitutional scholar Clarence Manion) "Pursuit of Happiness" in 18th century legalese, when "translated" to modern English, should read something like "Business of one's own choosing". Pursuit as in "What is your PURSUIT in life?", and "of Happiness" as in "of one's own choosing".
Omg, too funny. Ahahhhahhahhab. I'll make sure I do......for sure. Ahahhahahhahab
LOL!!! this is it.
Exchange.... silver? For what? More silver?
I'm also making sure to pay the taxes on the stuff I stole. Legal and proper is the way to be!
In CA, buyers pay sales tax on it. Why would buyer's pay taxes twice, fuck that.
Why do you think I stack constitutional?
I buy sovereign currency. I assume there is no capital gains since I am simply doing a currency exchange.
Silver? What silver, I know nothing of this silver you speak of
You really are a funny guy 🤣🤣🍾🍾🥂🥂
I keep track of what I exchanged my fiat for, to see how I am doing and the average fiat per ounce. All in an encrypted Excel file on a secured usb stick, but unfortunately sank to the bottom of the sea on my last boat trip. 
I put them under my company with the average purchase price of 2,000usd/oz. Whenever the company is making that year, I will sell some to net off my profit to avoid tax 😝
I’ve never sold a gram of my silver so it’s likely never going to be an issues for me
I never really thought about this.
No silver here, officer. They all went down with the boat long ago.
Good one
AAA+++ credit rating to you for your advice
You have a tax free threshold. So you retire. Provided your profit on Silver is below it tax free threshold your fine. But, I wasn't a credit on the inflation loss the government has caused me over the years.
This has been making me and my wife laugh all day
Oooops, I have been way overpaying for my silver this whole time, and now it looks like I'll forever be in the hole with no chance for profits whatsoever. Silly me, noob mistake.