- May 3, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Handling an Unexpected Inheritance: Evaluating the Gold Bar Gift
An unexpected gold bar gift raises questions about storage and potential sale options that require careful consideration. With the value of the gold bar being significant, it’s essential to explore secure storage solutions beyond a desk drawer.
### Securing Storage Beyond Desk Drawers
Considering the value of the gold bar, relying solely on a desk drawer for storage may not provide adequate security. Exploring options such as a bank safe deposit box can offer a more secure and monitored environment for safeguarding the valuable asset.
#### How AI Legalese Decoder can Help
AI Legalese Decoder can assist in deciphering complex legal terms and conditions related to securing a bank safe deposit box for the gold bar. By utilizing this tool, you can easily navigate through any legal jargon and understand the implications of storing the asset in a secure location.
### Exploring Sale Possibilities
If selling the gold bar is considered, determining the best price requires research and understanding of the current market conditions. With the gold bar being authenticated and sealed by a reputable Swiss company, obtaining the best price becomes crucial in maximizing its value.
#### How AI Legalese Decoder can Help
Using AI Legalese Decoder can aid in interpreting any legal documentation or agreements related to selling the gold bar. By utilizing this tool, you can ensure that you are well-informed and knowledgeable about the legal aspects of the sale process, enabling you to navigate through potential challenges with ease.
In conclusion, navigating the handling of an unexpected gold bar gift involves careful evaluation of storage and sale options. Leveraging AI Legalese Decoder can simplify the process by providing clear insights and explanations for any legal complexities that may arise.
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****** just grabbed a
Lol, spend a couple of minutes pretending you’re Mr Burns. I have no actual suggestions.
If you don’t have a safe, get a proper one from a locksmith (not from Bunnings) and have them bolt it down.
It’s a good idea even if you don’t have good bars. Once you have one you’ll find plenty of stuff to put in it ie. wills, birth certificates, powers of attorney, passports etc.
It depends on your overall finances?
<100g is <10k. It’s not worth a safe deposit box.
Buy a packet of old gold chocolate. Eat some chocolate. Put gold bar into packet. Stash it in your freezer.
Or buy a sand filled door stop. Stash it inside.
Noone if they break in will steal a door stop
I deal with gold (jewellery industry). Do what suits you honestly, there’s some weird suggestions in this thread.
If it was me? Gold prices are rising and have been for years. Hide it in your house (I know this isn’t a huge brick like others seem to think). Gold prices have risen (very roughly) 70% over the past 4-5 years, risen rapidly in the last month in particular. Don’t sell until you genuinely need the cash. And when you do, don’t go to those dodgy gold buying places at the mall. Go to a proper gold buyers (google is your friend, and check reviews).
Take it to a gold bullion dealer (not gold buyers). Check their prices
Just chuck it under the bed and make sure it’s noted on your contents insurance.
Perth mint will assess and pay out I expect.
make it into teeth, rock that shit
The idea of a gold bar is to be a store of value/hedge during social unrest or economic downturn. Just keep it in a locked drawer with the jewelry and save it for a (very) rainy day.
It’s cool, keep it on display?
Google will answer your question about safe deposit boxes.
Just sell it; anything else is expensive and risky.
I met someone who has a lot of gold in a safety deposit box instead of a retirement fund.
Work it out, but enough gold for retirement doesn’t take up much physical space.
I’m not giving advice here , just what I was told.
It’s a bit of a loop hole because on paper he doesn’t have an income so qualifies for several low income pensioner things.
He just sells enough gold each month to avoid triggering any income thresholds. Selling an item isn’t classed as income apparently as he’s not a business.
Enjoy your gold. Did you know it was created in an exploding star billions of years ago ?
Depending on the value, it might be more expensive to store it than it’s worth.
We have a bit of gold jewellery as I am Indian and my wife got a lot of it at our wedding. We just gave it to my sister to keep it in her bank locker. If she gives it back to us because she wants to get rid of the locker, I would just sell the lot and invest it into something else.
One ounce, so a square is worth about $3400 AUD or so. It can be kept as emergency money and an alternative asset or you can just sell it if you are stressed about losing a $3400 square of metal. I’d keep it for a shit hits the fan scenario in my life and sell it when that time comes.
Don’t forget to take a moment to look at it and realise the atoms of the material in front of you were created in one of the most violent and powerful events in the Universe, most likely during the collision and destruction of two neutron stars, billions of years ago. Then again, you could also look at a bit of lead and realise that too. Just not as shiny.
I’d be tempted to just carry it around in my pocket. You know, pull it out when you go to pay for coffee, say “Oh yeah, you probably don’t accept gold,” put it away and pull out your debit card instead kind of thing.
Personally I don’t think gold will outperform my other investments, so if it’s more than a “walking around money” amount to you then I would sell it. Holding costs (even just insurance if you have it at home) would eat into the benefits you might get from adding it.
why are people saying sell it at the mint, the point of keeping some gold is as last ditch emergency account, it’s there for when unexpected things occur and shit gets really bad.
I keep all my precious metals in a safe bolted to the floor and wall.
You never lose buying gold.
Inflation was at how much the last two years? Gold at the least never goes down if at all.
Keep it in the drawer or in the bookshelf. Thieves don’t steal books.
There are plenty of fake gold bars on Alibabba I wouldn’t be so quick to assume it’s real just because its in plastic. Certificate of authentication are easier to produce than a gold bar. Assuming it is real, just keep it some where out of the way. Typical appreciation is 7%PA on average. If you do want to sell, get a bunch of quotes because the rates offered range hugely. If you want a floor price consider Perth Mint, definitely not the best rates though. https://www.perthmint.com/invest/information-for-investors/metal-prices/#71555
You can also sell overseas on you next holiday, you may get a better price in Singapore or Thailand, or sell privately.
Bury it somewhere, make sure you and your wife know about it.
Once a year dress as pirates and dig it up to make sure the other isn’t a secret crackhead who pawned it. Get drunk on rum.
*Finding it, though, that’s not the hard part – it’s letting go.*
Hold it.
Don’t sell unless you need the money.
There’s plenty of gold and silver buying groups on Facebook. You’ll get close to spot, and the people are genuine. Otherwise just hide it in your sock drawer for a rainy day.
Stash it somewhere in the house, it’s baller AF to have precious metals hidden around the home. Gold is only going up for the next year or two, I suspect.
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Frame it up for the wall with a card label that says “Not Real Gold”
Drill a hole in it and wear it on a necklace
Gold is raising in value and likely will keep going up. hold onto it. it’ll be the gift that might keep on giving.
Do you own a home? You can get a good safe for a few hundred. It also makes a good spot to store personal ID documents etc.
Unless you need the money don’t sell it. Gold will keep increasing in value (actually it doesn’t, but Dollars are loosing value month after months because they are backed with thin air).
Gold and silver are the only real valuable “money” the plastic notes with numbers on it are fake money.
I’ve owned gold before and have a safe deposit box.
Safe deposit boxes are very hard to come by these days. Not many banks offer them (they don’t want the risk), and the ones they have are generally all allocated.
I ended up selling it to a dealer in the city. Interestingly, I got a call from someone at the ATO a couple of years later asking if I had done the transaction. Turns out they were investigating the dealer and wanted to know if the transactions on their book were legit.
Maybe your wife would like to buy herself something with the gift she just got ?
If you want to keep it safe for free bury in your garden, just dont forget where
Well don’t sell it – these things only go up in value. Its def not worth a safe deposit box. I would just keep it with the rest of the important stuff – for example where you store your passport etc. Maybe look into getting a lock for a drawer so your kids don’t sneak it out?
Definitely don’t get too curious and put it in your mouth to see what it feels like.
That shit is heavy and slips straight down the throat, the tongue can’t hold it.
I almost died from a 5 gramer the shape of a mini bar of soap once. It went straight down and I had to regurgitate it up. Thankfully I lived to tell the tale. Would have been the most embarrassing death in the world.
Take it to the mint cash it in or keep it somewhere safe at home.
Wait for a price high and sell, till then put it in the family safe. Or make a safe from a thick framed picture of the gold bar
It’s worth about $11.5k. if you want to sell it, take it to a proper bullion dealer and you should get near spot. If you have the time, join a bullion page on FB and try it there, you can get more than spot but risk scams etc ( not saying you will get scammed, plenty of good bullion pages, but the risk is there).
If you want to keep it, get a safe that can be bolted down and out of site. I personally collect bullion and coins and do this.
This is your wife’s decision? Does she want to sell it, especially as it was a gift?