What to buy?? Budget 75k

Lol love you guys, you make me laugh.
This is a unofficial super/retirement fund/experiment
There are stop losses in place and we are both happy to take this loss. So will never loose everything. But will also have another buy in of up to $25k if it dips and we feel like buying.
We have both lost more in other so called investments is houses/wifes ect
This was just a question of what you would do and what you thought of our experiment.
Thanks for your answers.
As for the predec and fifties its a space and weight thing.
Think guardian valt small box
And the platinum is a little hedge. Buy now at $100 an oz under gold, hope it goes back to over $300 per oz over gold. Sell and spend the $800 on gold/silver. On an outlay of $3200.
 
I'd go 60/40 $ split gold/silver and in something like PMDS unallocated gold / pool allocated silver (It's govt. backed and i'm pretty sure they actually have the metal).

I think if your dropping in $ 75 k at the drop of a hat then chances are that you may wish to pull it out at the drop of a hat too. Or just change your % allocation or maybe a better investment opportunity comes along - either way, by doing it this way a phone call can be made and its all done (liquidated / swapped / re-jigged) in minutes. Imagine messing around with (multiple) little bars - listing for sale, trying to find a buyer(s), not getting ripped off / having it stolen / losing it / forgetting where you put it, etc etc.

As for the dodging tax thing that so many seem to advocate - I think Mike MALONEY said it best in his book, 'If you wish to play cat and mouse with the Govt. it pays well to remember just who is the mouse'... Report your gains, pay the CGT and then you don't have to worry about a future visit by the authorities.

Yes I know that takes away all the fun. Maybe just get 1 physical bar to hold and remind you how good it is...


Bill
 
Chillidog said:
When he buys say 25 at $1712 ea oz we know that reporting to the govt will be required.
If spot doubles he can still sell each unit under the 5000k threshold.
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"Reporting to the government" is a bit dramatic - the only reporting would be an AUSTRAC threshold report if he paid over $10,000 in CASH (not a bank transfer, actual folding cash).

His exit strategy had better consist of selling privately - sell an ounce of silver back and it's going to require ID to be provided for state second hand laws. The $5k is a federal AUSTRAC requirement when buying from a dealer, selling back requires ID for state laws regardless of the value.

For $75k, if selling back to a dealer was the exit strategy, just buy a kilo gold bar, and the rest in 1kg/100oz silver bars - get the lowest spread items possible. Otherwise, for simplicity's sake stick to all 1oz gold and 1kg silver, no need to confuse the issue with a chocolate all-sorts selection of sizes.

Neither sales or buybacks are reported to the ATO. The tax regime in Australia is reliant on voluntary compliance - otherwise we wouldn't have to complete tax returns each year.

Cheers
 
If you do decide to go with physical metal, make sure you shop around "a lot". Phone anyone and everyone who sells silver/gold as the prices you will be able to achieve should be well below those quoted on any of the websites (noting how much you have to spend). Try non dealer avenues such as Silver Stackers or shops like gold diggers here in Adelaide. You can be very pleasantly surprised at how close to spot you can get.
Also buying it all in one place may not work out cheaper as some dealers have specific lines they sell at very good prices whilst other items can be way too expensive. Don't forget to look at overseas dealers as some will happily give you discounts and free delivery if you spend enough. However make sure you understand the lead times, GST and customs implications before ordering outside of Oz.

Anyway just my 2 cents worth.
 
Pay cash and buy $9999 worth each month..Bank has to report withdrawals over $10000..

Regards Errol 43
 
i suggest keep the gold to 1 oz size

the premiums between 1 and 5 is neglible or non existent and second reason is if there are tungsten bars out there its more likely they'll be the larger size bars rather than 1oz. reselling 5 oz would be much harder on SS than 5 x 1 oz.
 
SilverSale said:
Do the exact opposite of Napthalene :p

Here is some advice from a solicitor (but keep in mind everyone's financial situation is different);

"When silver coins are purchased for less than $500 each (or a specific set is purchased for less that $500), even if they were a collectable they would be CGT exempt."

1kg bars will most definitely attract CGT if sold for a profit. Check with ATO if unsure about anything/confirmation.
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I don't want to derail the thread from the original topic but thought I would add clarification to this. Read here for the actual wording from the ATO:

http://www.ato.gov.au/corporate/content.aspx?doc=/content/00208572.htm&page=18&H18

Silversale, it is true that purchasing coins and reselling at a profit will more than likely mean you would be exempt from CGT (obviously coins under the $500 threshold). However, if you did this frequently and systematically with a profit making intention, the ATO could easily argue the gains made are revenue (not capital) and fully taxable.

Take care not to treat a CGT exemption as a way out of declaration of revenue income. As always, everyone's situation is different and the revenue vs. capital test is a test of fact (that is, it varies depending on the situation in each case). It will always be a bit of a grey area. However, if you are talking a lot of dollars and there is evidence of a systematic approach with profit making intention it is an argument the ATO will more than likely win.

Further to the above, the exemption is for collectables (including coins). Purchasing 500 of the same coin (not a collectible coin but one traded for its value as a commodity) and then selling 500 at a margin will add credence to the argument that it was never a purchase of a collectible and more like trading stock (ie revenue).

I'm not saying this applies to you, just general info for all the SS members to consider.
 
errol43 said:
Pay cash and buy $9999 worth each month..Bank has to report withdrawals over $10000..

Regards Errol 43
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I once had the bank call me because I withdraw a max $8000 (over 3 different withdrawals) when I bought a car. I know this is different to them reporting it but eh I don't trust the banks either.

Whats the reporting figure for deposits if you know?

Meh in the end I'm going to do the "legal" thing so I can sleep well at night, but this is still all interesting.
 
I've done some break down on PM's coins and bars and realised that their 50g gold mint bar has lower premium than 100g mint bar, 1.2% vs 1.4% of their own spot price. For comparison, 1oz mint bar is 2.75% over spot.

*Spot refers to Perth Mint website's spot.
 
Ernster said:
errol43 said:
Pay cash and buy $9999 worth each month..Bank has to report withdrawals over $10000..

Regards Errol 43
Click to expand...

I once had the bank call me because I withdraw a max $8000 (over 3 different withdrawals) when I bought a car. I know this is different to them reporting it but eh I don't trust the banks either.

Whats the reporting figure for deposits if you know?

Meh in the end I'm going to do the "legal" thing so I can sleep well at night, but this is still all interesting.
Click to expand...

I recently had to do compliance training at work......again, according to big brother (the government) A threshold transaction report must be filled out for ANY transaction of $10,000 and up. HOWEVER! a suspicious transaction report can be filled out for any cash transaction under/over $10,000 (i.e. Three $5,000 transactions, or even a single 7,000 transaction if judged to be suspicious by any trader). So your three withdrawals may have only totaled $8,000 but it obviously popped up on the banks radar.

Hope this helped in any way ( if it did let me know and I'll pm you my bank details for my fee:p )
 
DanielM said:
Hope this helped in any way ( if it did let me know and I'll pm you my bank details for my fee:p )
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Sorry but I don't pay optional fees, you must be a banker :P

Thanks though. ;)
 
renovator said:
Some larger gold bars instead of all the 1 ozs...Why ? because they feel good
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Agree, I have some cast bars, try get him one of PAMP 100g cast bar, or 2.5 oz PM cast bar (both feel good, you can use the old style to test the metal - your teeth to test the softness :P )

In terms, of small cert bar, suggest you should pickup either 10g or 5g but not both.
 
60k in 1oz gold coins.
15k in 1kg silver bars.

Don't bother with anything smaller unless you want to dabble in silver coins.
 
I think what you have chosen is good Chillidog. Have you seen those Argor Heraeus kinebar's Bullion Bourse has, they look hot!
 
Personally I'd buy 2000oz of silver at as close to spot as possible and with the change buy gold mining stocks for the gold exposure.

I would ease in slowly but buy 1000oz immediately.




P.s tell him to do his research but I'd stay away from coins and get maxxxx metallll via bars
 
On second thoughts buy a shit load of second hand cars,toilet paper,face masks, shares in Zoom and a company called Tesla.
Stay the fck away from anything with the name Luna or Celsius
Lol
If only we could....
 
REDBACK said:
On second thoughts buy a shit load of second hand cars,toilet paper,face masks, shares in Zoom and a company called Tesla.
Stay the fck away from anything with the name Luna or Celsius
Lol
If only we could....
Click to expand...
'He thinks a 6 lt V8 Calais is an investment.'

He would have done better without help
 
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