by James Turk
In a blog posted to his website Peter Schiff purports to give tax advice to US citizens on the purchase and sale of gold coins. I am not aware of his qualifications to do so, and there is no mention of his training in this specialised field.
Maybe he is a trained tax attorney or expert tax accountant. I am neither of those, but I can spot as good as anyone attempts to pull the wool over people’s eyes.
Despite Schiff’s attempt to put them at center stage, taxes are not the issue here. There are always taxes that need to be considered. Rather the real question is how to buy physical gold. Taxes are a consequence of what gold you buy and how you buy it.
There are only two ways to buy physical gold. You buy it and store it yourself. Or you buy it and have someone store it for you, like BitGold and of course GoldMoney.