Glenn: What makes you think you will be able to expatriate them back to the U.S,? Deposited electronically to your bank account if over $5,000 is automatically flagged to the Treasury Department. Repeated amounts that look like they are designed to circumvent the $5,000 reporting trigger not only are also reportable but are a federal f…
Glenn: What makes you think you will be able to expatriate them back to the U.S,? Deposited electronically to your bank account if over $5,000 is automatically flagged to the Treasury Department. Repeated amounts that look like they are designed to circumvent the $5,000 reporting trigger not only are also reportable but are a federal felony. Just had a lady sentenced locally for that very same offense. Don't know if she was actually guilty or not but she pled guilty in return for a plea deal. There is a difference. Sometimes people plead guilty when they really are not but cannot afford even the public defender. You don't get a free ride form the public defender if you have any assets. They take them just like a regular lawyer in return for representation.
If you are going to buy sterling grade silver, you are better off, in my opinion, buying regular quantities of about $2,000 in cash and taking delivery of it and stashing it at home or in a storage facility or worst case, burying it in your backyard. I wouldn't use a bank safety deposit box because they can be opened by court order or warrant. Search warrants are easier to obtain than gift cards at Starbucks or Target.
In addition to this. When the pandemic started, my bank quit letting people in for awhile. Now you can only get in the lobby to the safe deposit box by appt. What happens when you call a gold storage facility and no one answers? That is the problem I have with precious metal IRAs. I don't know if they really have the gold, or if someone could steal it. What happens when I call and nobody answers because they have gone out of business
Well, I think a combination of methods are good. If you want to store it in your backyard, that's fine. I like Goldmoney because you can transfer any amount that you want at any time. Plus, if you ever feel that you want to get out of dodge, you can leave the country without carrying pounds and pounds of silver with you.
Glenn: What makes you think you will be able to expatriate them back to the U.S,? Deposited electronically to your bank account if over $5,000 is automatically flagged to the Treasury Department. Repeated amounts that look like they are designed to circumvent the $5,000 reporting trigger not only are also reportable but are a federal felony. Just had a lady sentenced locally for that very same offense. Don't know if she was actually guilty or not but she pled guilty in return for a plea deal. There is a difference. Sometimes people plead guilty when they really are not but cannot afford even the public defender. You don't get a free ride form the public defender if you have any assets. They take them just like a regular lawyer in return for representation.
If you are going to buy sterling grade silver, you are better off, in my opinion, buying regular quantities of about $2,000 in cash and taking delivery of it and stashing it at home or in a storage facility or worst case, burying it in your backyard. I wouldn't use a bank safety deposit box because they can be opened by court order or warrant. Search warrants are easier to obtain than gift cards at Starbucks or Target.
In addition to this. When the pandemic started, my bank quit letting people in for awhile. Now you can only get in the lobby to the safe deposit box by appt. What happens when you call a gold storage facility and no one answers? That is the problem I have with precious metal IRAs. I don't know if they really have the gold, or if someone could steal it. What happens when I call and nobody answers because they have gone out of business
Yes, owning physical gold or silver is better.
Well, I think a combination of methods are good. If you want to store it in your backyard, that's fine. I like Goldmoney because you can transfer any amount that you want at any time. Plus, if you ever feel that you want to get out of dodge, you can leave the country without carrying pounds and pounds of silver with you.