Investing in Precious Metals?

Ok, im new to all of this precious metal investing. I’ve done some reasearch and lets say i want to buy an ounce of platinum. So i go onto a website and buy one ounce for 85/oz or whatever it costs at the moment. It ships here… Then what? do i need to file taxes at tax time? or do i just hold onto it until i want to sell it?

Thanks for helping out a clueless person 😉

1 thought on “Investing in Precious Metals?”

  1. Please let me save you some money 🙂

    1. Please don’t buy Precious Metals or any investment based on a website advertisement. Only buy from licensed USA (if you are in the USA) registered commodity broker in your area.

    2. I think the run on Precious Metals is pretty well done.

    Other FYI:
    3. There is no tax on an investment until you sell at a profit.

    4. If you take possession of a physical metal it is much harder to sell. You have to go to a dealer.

    5. If you buy from a website you may not be getting what you think you are getting. There are a ton of scams out there. They could ship nothing, ship something that is less than pure actual metal or contain other metals that are less valuable.

    Just don’t do it.

    Put the money in a ROTH IRA and invest in the S&P 500 Index. Wait 10 years and you should be much happier.

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