(Money Metals News Service) We get lots of questions from the public about precious metals. Some people are curious about the basics.
Others are skeptical about the case for owning gold and silver. Still, others are longtime customers who have highly specialized inquiries.
Here are three very common questions…
QUESTION: Do you think now is a good time to sell?
ANSWER: Those who have been holding their gold and silver for a long time are probably sitting on some nice gains by now, at least in nominal terms. Everyone has their own needs and desires, of course, but it’s certainly reasonable to take some profits off the table.
That said, don’t forget that selling physical gold and silver – unless held in a retirement account – will be subject to capital gains taxes.
Also, we’ve seen more selling by the public over the past 18 months, particularly as to gold. And we have not yet seen a large influx of new investors come into the precious metals like we saw during the pandemic.
We expect that to happen eventually and probably in conjunction with still-higher prices.
Gold especially has been performing well as a safe haven and as a hedge during recent stock market and bond market tumult.
Gold prices have been propelled higher by an array of geopolitical conflicts and buying by central banks.
Given all the risks present today, maintaining a core gold holding is a must. And if the gold bull continues, history suggests that silver will eventually outperform.
Those that wish to sell can do so at MoneyMetals.com or by calling 1-800-800-1865.
QUESTION: Do you think the government is going to try to confiscate gold again?
ANSWER: We can’t rule out a draconian action by a desperate federal government in the future.
However, our currency is no longer backed by gold, so the “justification” for calling in the gold to permit new currency issuances no longer exists.
It seems more likely that central planners will alter retirement account tax exemptions or take other actions – such as forcing retirement accounts to be invested in U.S. Treasuries, i.e., force Americans to lend money to the federal government.
Fear of government confiscation should never be an excuse not to acquire gold and silver. (Nor is it a valid reason to sink money into supposedly “rare” coins which are sold, dishonestly, as “confiscation proof” by the scammers that plague the precious metals industry.)
The good news is that Money Metals does not report your purchases to the government or anyone else.
QUESTION: Is it safe to send metals through the mail?
ANSWER: Yes. It’s extremely rare for a box to be lost or stolen in transit. Especially when all voids are filled, and when heavier shipments are double-boxed and securely taped at all joints.
When you buy from Money Metals, we insure delivery of your order. When you are shipping metals to us for storage or sale, we recommend you use USPS Registered Mail, which enables packages to be insured for up to $50,000.
For more information about shipping securely, visit MoneyMetals.com and click the “Sell to Us” button on the navigation bar.
