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Subject:  Precious metals question Date:  6/4/2012  10:14 AM
Author:  REtim Number:  116214 of 129584

Hi All

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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