My bought at price vs. current?

Everything I see shows current prices, where do I find my bought at price so I can see the difference and compare?

Comments

  • ReverenceReverence Posts: 8 Tin ✭
    Where it shows past transaction on your account, it will also show (X) amount in your countries currency and how much gold you purchased in (g) with that fiat currency. EX: $100 ----> (x)g

    Just add up the total amount in fiat currency you have spent and compare it with today's value. All the information needed to find out the difference is in your table of past cleared transaction's.
  • ToadMeisterToadMeister Posts: 12 Tin ✭
    Thanks, I'll check that out, but so far, with only two purchases, I realised simple math gave me the answer.

  • ToadMeisterToadMeister Posts: 12 Tin ✭
    So, If I made a gold purchase and picked a vault, then made another purchase later and picked the same vault, will it give the data about bought price for each transaction separate?

    Simplify - If I had ten apples bought for $5.00, and twenty apples for $7.00, and put them all in the same basket.
    Will it show I bought 30 apples for $12.00 because they are going to the same basket (vault)?
    Or show 2 separate baskets, in one bigger basket?
  • SpontaneousOrderSpontaneousOrder Posts: 302 Bronze ✭✭✭
    @ToadMeister, when you dump your transaction list, each purchase and sale will be shown separately. Only if the apples were mutual funds could you use the "30 apples for $12" average cost calculation, and it's the same for gold. Each purchase is considered a separate "tax lot," and when you sell you need to decide which lot or lots you are selling. To continue your example:
    1. You bought 10 apples for $5, or $0.50 each. That's the first tax lot.
    2. You bought 20 apples for $7, or (about) $0.35 each. That's the second tax lot.
    3. Suppose you sell 5 apples for $2, or $0.40 each.
    Now you need to decide whether you sold apples from the 1st lot, for a capital loss of $0.10 each, or apples from the 2nd lot, for a capital gain of $0.05 each. You can pick either one, depending on whether you want a gain or loss on your taxes for that year.

    Let's switch back from apples to gold. When you sell, in addition to choosing which lot or lots you are selling from, you also have to take into account how long you held the gold. If you have held the gold (in the tax lot you are selling) for less than a year (in the U.S.A), you pay your normal tax rate on any capital gains. But if you have held the gold for longer than a year, the tax rate on the gains is capped at the maximum "collectibles" rate of 28%.
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