The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Precious metals question||Date: 6/4/2012 10:14 AM|
|Author: REtim||Number: 116214 of 122843|
I have been dollar cost averaging into small quantities of gold and silver eagles for some time. If, for example, i sold an ounce of gold for a profit, how is the cost determined and how is the profit taxed? After all, gold eagles have no serial #/ ID other than the date on them so receipts seem pretty meaningless.
That is, if i sell that gold eagle, wouldn't i just claim it cost the highest price i ever paid for gold?
Just musing on some future time when i cash them in...
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