Hello all, You know the story - new here, been reading for a while, trying not to annoy you lovely and helpful people with dumb questions! I've never dealt in the physical stuff. I have a good amount of experience in investing in precious metals, and it's been great, but I'm sure you can guess why it's time for me to turn some of that paper into shiny things. Still rebalancing strategies, but looking to move roughly 50-80k into gold and silver soon. So, eager to learn, and quickly. A few starter questions below but mainly just wanted to say hey. (if the questions should go in a different area let me know, I'll repost.) - I've seen the discussion about < 5k purchases, so that ID is not required, and there's no chance of your details going to AUSTRAC. Is the main concern simply that the govt will have your info, and that if SHTF they may repossess? Or are people concerned about tax implications too? - I'm not too concerned with numismatics. If buying bullion bars (i.e. if a transaction of greater than 5/10k (re the above) did not concern me) I imagine straightforward Perth Mint or similar. But if it's coins, there seems to be a complex and wonderful world to discover! I still don't know my koalas from my lunars, or my dragons from my a*** for that matter. Is it as complicated as it seems, or is that mainly for the numismatics? Thanks everyone. Now's the bit where you tell me to go away and do more research (from sydney)
Welcome. No such thing as dumb questions . Yep... people like their privacy when stacking. Tax implications could be one reason but there are many others. Loose lips sink ships for one. Also like you said in SHTF scenario the gov would repossess all the precious metals. There are plenty of coins. If you're into old world coins and stuff like that THUCY is your man. He's the expert on that stuff. If you're buying Chinese Pandas, yennus is your man. He is the panda go to guy. If you're looking at the random Perth Mint proof coins or just bullion then I think most of us can answer yes/no. Basically, Lunars > Kookas > Koalas if you're talking about Perth Mint. Also stay away from colored and carded stuff unless you know what you're doing or you'll end up with a bunch like me. You should go to the Sydney meet on 28th August I think it is, would be great for you to meet a lot of stackers and similar minded people.
"I'm breaking up with fiat"...yes it's the best move - she'll try every trick in the book to get you back - stand strong - it's not worth the heart ache - oh yeah welcome aboard
Hello spandrall, Yes these breakups are never easy. But now that you have made the move its time to go forward. $50.000 au / $30.000 ag bullion bars. Then sit back and figure the coins at your leisure. By the way welcome.
Thanks for the hearty welcome! Butch: starting with bullion, then taking my time with coins sounds sensible to me. I don't yet fully grasp all the reasons for/against buying in smaller quantities to remain anonymous - that's my concern with larger amounts. But I'm researching now. Fishball: thanks for the pointers. The meet on the 28th sounds good (though I'm guessing it's for stackers who aren't as concerned with keeping their identities private?) Cheers.
Well... if you're that worried you can lie about your name, your job, your stack size But yeah just an event like a coin show or whatever, you don't need 100 points of ID to enter and participate! We're a bunch of mixed people, all just stacking for our own reasons. We're not the ATO :lol:
