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<p>[QUOTE=&quot;tommybee, post: 1018215, member: 24999&quot;]Luke - if you get audited and you can&#039;t prove how much you paid for it, then I think the government treats it as if you paid nothing for it.&nbsp; Accordingly, you would have to pay 28% on the total value of the PM, not just the 28% profit realized if you are able to provide proof of purchase price.</p><p>&nbsp;</p><p>This is essentially, a punitive tax. The government doesn&#039;t want you in PM&#039;s, it wants you in fiat. If you go the PM route they are going to make you pay. Literally. Even with silver&#039;s great gains over the past year, this tax would wipe out the majority of profit realized by the recent purchaser unable to prove purchase price.[/QUOTE]</p><p><br /></p>

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