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Other financial discussions
@MCD9861 , in that case ( i.e. you want to gift the bars for Christmas ), just ignore all other consideration and put these under the tree. Their basis ( for Cap gain/loss purposes and in the distant future ) would be the same as yours, which is Fair Market Value when you received these as gift --- You can use KitCo, JMBullion, Yahoo etc. for spot gold price around thew time your friend bought ( or failing that, when you the gift ) the 1 oz. bars. All you are trying to do is "best effort" determination. Note that depending on circumstances and/or desires, people often convert the bars to Jewlery and the ignore the basis, because they never intend to sell the bars. Others ignore everything and hold the item till passing on to his/her progeny as gift. It is not worth worrying about because the future is so uncertain.
That is my view on this.
Is there more I can do for you ?
Merry Christmas
pk