Privacy grows scarce in today’s global environment. Everyday conversations include topics like government surveillance and electronic tracking. One search of a Social Security number and agencies access your investment information. Despite all of this, an off-grid asset remains. The privacy of precious metal investments allows you to avoid unwanted monitoring.
Anonymous Purchases and Physical Ownership
Because investing in precious metals does not require a Social Security number, you remain anonymous. History demonstrates the need for this protection. In the 1930s, President Roosevelt forced citizens to sell their gold to the government for unfairly low prices. Should history repeat itself, you would be safe with metals investments. With these privately held assets, no one would come knocking on your door.
Taking physical possession of your holdings enhances the privacy of precious metal investments. Because you do not store them digitally, you guard your assets against hackers or electronic seizure. Bullion is globally valued. It is liquidated easily and traded across borders, setting it apart from other assets.
While most believe that you must report all transactions exceeding $10,000 to the IRS, this is not the case. This rule only applies to cash transactions. You do not have any reporting requirements when you purchase precious metals using checks, wire transfers, credit cards, and other non-cash payment methods. Of course, the IRS mandates reporting of gains generated from the sale of assets. Because of this, always verify the documentation requirements for planned transactions. Please see The Truth About Precious Metals Reporting on our website for further information regarding this topic.
With our current political conditions and talk of increased government oversight, many investors appreciate the unique freedom available due to the privacy of precious metal investments. By finding a bullion dealer who understands reporting requirements and your privacy concerns, you can safeguard your future by making an untraceable investment.
