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Tue 19 Feb, 2008 02:21 pm
i got just over an ounce of gold, can they tax me on it? im not gonna convert into money does that make a difference?
sounds weird, but i like collecting pure metals. i got a block of copper for no reason too lol..
tangent, but copper is fuckin awesome i love that ****.
You do not state what country or nation or territory you live in. (Let me guess...
) In most countries holdings of gold are treated as capital investments and you would be taxed on any profit you make when (or if) you eventually sell it. I do not think any country taxes people merely for owning gold. Today's price is around $927 by the way.
PS I also think copper is beautiful.
wow thanks for the detailed info. exactly what i was lookin for.
so as long as i dont sell it thats cool, but damn 927? all i did was collect broken jewelry for like 8 years.
lol, **** collecting cans!
Jewelry is likely not pure gold.
While gold does not readily combine chemically with other substances, it is often diluted or "watered down" by impurities of other metals such as silver, copper or mercury (in the form of mixtures called alloys).
The term "carat" is used to describe the purity of gold and is based on a total of 24 parts. Pure gold (100% gold and nothing else) is known as 24 carat. In 18 carat gold, for example, 18 of the 24 parts are gold and the remaining 6 parts are another metal, such as silver or copper.
The properties of pure gold discussed above are obviously altered when you add other metals. For example 24 carat gold is probably too soft to make long lasting jewellery so 18 or 9 carat gold is used as it is harder.
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