I recently received an email for a gold investing website. They offer 25% of each commission when someone you refer signs up for an account and give you a free gram of gold for registering. Basically, you post the URL on your site. For example, mine is http://bullionvault.com/from/webpence . They allow you to buy and sell gold in either dollars, pounds, or euros, and you can store your gold in one of their vaults in either London, New York, or Zurich.
My question is: What if any are the tax and legal implications of buying and selling gold through a site such as this? I also saw a similar arrangement at goldmoney.com and am wondering which site is better. I am hoping someone else out there has any information that might help.
Other questions: If you buy and sell gold in the UK or Switzerland, do you have to pay capital gains either in the US or the other country? If you could store gold in either the UK or Switzerland, which is better?