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Message:: [QUOTE="glimmer, post: 764912, member: 22079"]thank you for your replies thanks to everyone for their replies. sorry I could not understand nearly 90% of them, as I am not a coin collector or metal collector or anything like that, just a regular person who invested some modest savings in a couple of small gold bars because friends were doing it too. Now I need the money and want to sell, but didn't want to get conned. I'm not in anyway trying to trick the IRS, I pay my taxes fair and square. This economy is in recession and every litle bit will help our government and out country get back on track. The only reason I bought the gold was because my friends said stocks are sinking (this was a few years ago) and I didn't know how to invest in them anyway. So they said, buy the bars, keep them under the pillow, sell them whenever you need to, and since I paid income tax on the money I bought the bars with, I wouldn't have to pay much taxes when I sell them. No one thought that gold would become so expensive then, we just thought a few dollars here and there. Now that it's become so expensive and I have about $2k worth of gold, (which to me, is a lot of money), and I bought it for half price, that's 100% profit I have to pay tax on, so just was wondering how it worked. That's about it. Anyway, thanks for your help and advice. Appreciate it.[/QUOTE]