Quote:
Originally Posted by calgaryblood
Even so, how is my parents gold's ACV less than what it's actually worth? Gold doesn't depreciate. The actual cash value of gold that is worth $10,000 is still $10,000 real dollars is it not? Or am I missing something that is going completely over my head. I can get electronics getting depreciation deducted but gold? That just pisses me off. My parents have been with them for so long and have multiple properties insured with them and this their first claim on their house and it just seems like they want to squeeze onto every penny. I get insurance are out to make money but a little common sense should be used.
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Well I just look at my wedding ring or watches or things like that and I know that despite gold being like $1100/oz that there is no way I could actually sell those items for that kind of price. I'm far from an expert on jewelry and am really the wrong guy to ask about that. Its just that the actual value of those things to me is less than what I originally paid for them.