Taxation on gold/silver

[Dansor85]

Dear BrotherjohnF

My name is Daniel, I am from Norway, and I have been following your video updates on youtube for about a year now. First of all I would like to say that your work is excellent and very professional! I am still amazed at your level of reasoning and ability to connect the dots and present your views and findings to us, the viewers.

I have a question about taxation on gold and silver, and I would love it if you could talk a little about this in your video. I think there are a lot of people like me out there, who are very confused about the taxation laws. Even though I am from Norway, I know after reading Robert Kiyosaki's book series (Richdad, Poordad) that the taxation laws of the western countries are almost the same, with minor discrepancies. There are a lot of advocates for gold and silver that use the argument that gold and silver in the form of numismatic coins are not eligable for for capital gains taxation like for instance stocks. I even took a course here in Norway in business law (3 months introductory), partialy to understand the laws better to come to my own conclusion on the matter. Now, in my opinion the law is very vague when it comes to gold and silver, and in the Norwegian taxation laws there arent really any law that speaks about gold/silver in clear text, so its all about defineing. And just to be clear, I am talking about gains made when you are selling the metals, capital gains. Taxation of gold/silver as an asset is another chapter with other laws. Im not gonna cite the whole law here, but in the norwegian laws, "special rules" always trump the "general rule". Gold/silver could easily be defined under the "general law of capital gains", but I did also find a special law that says: "Capital gains made on following assets are eligable for tax exemption.... B: Foreign means of payment for personal use" Since I am holding foreign gold and silver coins with a face value denominated in foreign currency I would say that this is a loophole I might be able to use.

Hope this thread isnt to long and boring, because I really think this is an important topic concerning anybody who are invested in the metals. (Physical!) Again, I just want your opinion on the matter! If worst case scenario plays out, this might not be a relevant matter as it might come to a point where we can use the metals itself as a payment for whatever, instead of selling them for another worthless currency