What is your worst bullion purchase?

80 oz of pure silver in the form of 40%ers and 90%ers when silver was around $27/oz. I will be holding on to that for a long time to turn a profit.

 

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If you've kept accurate records for all of your purchases, you could always wait until you have a pretty big upward spike in your income and then sell it at a loss for the write-off.

Chris

 

I fear my income may always be too low to deduct anything : (. Plus I use the long term capital gains tax to my advantage. If you make something like less than 50K in a year including salary and capital gains, you file the net capital gains, and the tax rate is 0%. Long term applies to Anything held over one year and not sold "in the regular course of business". It applies to stocks and bonds as well I believe.

 

Thank you for the heads up.

 

My worst purchases when it comes to bullion or any coin is that I relied on my memory. Lol I thought I didn't have a bullion or numismatic coin & ordered it. Later when I checked my records I realized I had already bought it. So the lesson is never rely on your memory. Always check your records

 

My worst purchase ever was purchasing a tube of 25 of 1/4 oz Gold Queen's Beast Lion's for a little of $11,600 during a few month period where it seemed the supply dried up and they were selling for $500 a piece on ebay. Few months later a huge supply hit the states and the tube was selling below $9,000... Won't be making a mistake like this again.

 

Same here. I own a few of those fancy perfume boxes for $100, and they were kind enough to put an ounce of silver in them as a parting gift.