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Can we use Gold as an asset for I864?

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Filed: Citizen (apr) Country: Thailand
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That is a good question. I think it would depend. I physically own gold Krugerrand, and US eagle gold coins, but unless you can show proof of that I am not sure you can use any you Physically own. Now I also own gold thru a broker and have certificates showing how much I own. That is more like a bank account and I can see the value of it at any time by logging into my account. If you are holding gold that way I believe you could use it because it is like being in a bank, and you have a statement showing value, and basically an account backed by gold. I think if you own your gold that way you could use it because it shows as an asset. If you have a bunch of gold bricks laying around your house I don't think you will be able to use those unless you transfer them into a broker type account.

 

That is what I would think on owning gold or any other traded commodity.

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Filed: Lift. Cond. (apr) Country: China
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Moved from Progress Reports to Process & Procedures.

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Filed: Timeline
6 hours ago, Ryan H said:

Moved from Progress Reports to Process & Procedures.

 

14 hours ago, Loren Y said:

That is a good question. I think it would depend. I physically own gold Krugerrand, and US eagle gold coins, but unless you can show proof of that I am not sure you can use any you Physically own. Now I also own gold thru a broker and have certificates showing how much I own. That is more like a bank account and I can see the value of it at any time by logging into my account. If you are holding gold that way I believe you could use it because it is like being in a bank, and you have a statement showing value, and basically an account backed by gold. I think if you own your gold that way you could use it because it shows as an asset. If you have a bunch of gold bricks laying around your house I don't think you will be able to use those unless you transfer them into a broker type account.

 

That is what I would think on owning gold or any other traded commodity.

Thank you - I had no idea that a broker could do that!

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