Gold ownership is promoted

A state precious metals depository is planned in Tennessee.

Tennessee lawmakers didn’t fully exempt precious metals from sales tax until 2022. Now they are going one step further. In this country, a precious metals custody account is a popular investment option where precious metals are purchased and held in highly secure custody. Precious metals are especially attractive in times of crisis and attract investors. The depository planned in Tennessee will hold, manage and guard certain precious metals. They will be deposited by legal entities or private individuals. Annual reports on all activities of the depository are to be made to certain commissioners. The depository is nevertheless privately owned and operated by citizens. For a fee, citizens can then store their precious metals; electronic transactions with gold and silver are also to be possible.

By the state helping to build up deposit opportunities, gold and silver can be used as an alternative to paper money, which has been battered by inflation. In this country, the purchase of investment products made of silver, platinum or palladium has generally been subject to 19 percent value added tax (is sales tax) since the beginning of 2023. The differential taxation only applies to exceptional cases (old goods and collector coins). In contrast, the purchase of investment coins and bars made of gold is absolutely tax-free. When selling coins and bars, profits are exempt from tax after one year. Who makes profits with gold mining shares, must consider the final withholding tax. Xetra gold is treated the same as coins and bars for tax purposes. Tennessee is just one of many states that make it easier to purchase precious metals. Incidentally, anyone buying gold in non-EU countries must properly declare it upon importation back home, and an import sales tax is due. A proven way to invest in precious metals is to buy precious metal stocks.

That’s where Trillium Gold Mines would come in. In the Red Lake mining district in Ontario, the company owns a large package of properties. In addition, there are properties in Larder Lake, Ontario.

Golden Rim Resources – https://www.youtube.com/watch?v=GaucOoERsE8 – has other projects in its portfolio (gold, silver, copper, zinc and lead) besides its flagship project Kada (gold). They are located in Guinea and in Chile.

Latest corporate information and press releases from Trillium Gold Mines (- https://www.resource-capital.ch/en/companies/trillium-gold-mines-inc/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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