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New Honey Hole For Old Pour Bars....

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Bedrock of the Community
United States
12437 Posts
 Posted 04/04/2012  11:37 am  Show Profile   Bookmark this reply Add biokemist6 to your friends list

Quote:
How can you buy silver without tax in a store?

Many states do not charge sales tax on coins and precious metals
Pillar of the Community
Canada
834 Posts
 Posted 04/04/2012  12:16 pm  Show Profile   Bookmark this reply Add swrbxxx to your friends list
If I were you I'd take a gamble And grab every poured bar he has. Huge profits can be made. Especially with this drop in price.
Pillar of the Community
United States
808 Posts
 Posted 04/04/2012  12:55 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list
Here in Texas, qualifying coin and PM purchases which total $1000.00 USD and over do not pay sales tax. Other states will have different sales tax rules.

I can't speak for others but I always pay my taxes. Lets say I make a small purchase at a LCS and I pay the price we negotiate. As far as I'm concerned, I've paid the appropriate sales tax in the purchase price. I have every reason to expect my local dealers to be ethical and follow the law. Additionally, how the LCS handles it's accounting is totally beyond my control. Ultimately, if I feel I got a good deal? That's all I worry about.
Pillar of the Community
United States
1391 Posts
 Posted 04/04/2012  1:26 pm  Show Profile   Bookmark this reply Add allranger to your friends list
In my state I don't pay taxes on coins or bullion so I was a little suprised to see people asking about it.
Pillar of the Community
United States
3670 Posts
 Posted 04/04/2012  2:27 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list
We have to pay sales tax in T.N. on coins, making it tough on me....

I have to simply assume his price has the tax fixed in....

"can't speak for others but I always pay my taxes. Lets say I make a small purchase at a LCS and I pay the price we negotiate. As far as I'm concerned, I've paid the appropriate sales tax in the purchase price. I have every reason to expect my local dealers to be ethical and follow the law. Additionally, how the LCS handles it's accounting is totally beyond my control. Ultimately, if I feel I got a good deal? That's all I worry about."

Could not have phrased it better myself, lol....
Valued Member
United States
264 Posts
 Posted 04/04/2012  2:30 pm  Show Profile   Bookmark this reply Add rgathright to your friends list
@Silverhawk74 New to the PM game; Southland Coins in Louisiana told me not to buy more than $1,000 at a time because they would have to report my activity to the IRS.
Pillar of the Community
United States
3670 Posts
 Posted 04/04/2012  2:37 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list
Not a problem R as I am way to poor to by that much at once, lol....

Just looked at the spot price, man this thing is in full flight downfall mode eh, gold an silver as I noticed it went way down late last night, and figured it would slide more today....

I feel we are sliding more lately then gaining as these false hope rise Mondays are becoming more frequent with a bad MID WEEK DIP, followed by a meaningless small recovery by Friday.....

Pillar of the Community
United States
808 Posts
 Posted 04/04/2012  3:06 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list

Quote:
[LCS]in Louisiana told me not to buy more than $1,000 at a time because they would have to report my activity to the IRS


I am not in any way a tax expert. That said, IRS form 8300 "Report of Cash Payments Over $10,000 Received in a Trade or Business" is, as the title says, for transactions over $10,000. I have heard that in certain instances, for example if a business suspects criminal or illegal activity, this form may be filed for smaller transactions.
Pillar of the Community
United States
808 Posts
 Posted 04/04/2012  3:16 pm  Show Profile   Bookmark this reply Add coinwatch to your friends list
@allranger - No sales tax on coins and PMs? Outstanding!
Valued Member
United States
318 Posts
 Posted 04/04/2012  4:39 pm  Show Profile   Bookmark this reply Add SilverEye to your friends list
I'm on the Washington / Oregon border. Oregon has no sales tax at all, Washington does not charge tax on PM's.

Also, I live and work in Washington, and there's no state income tax here. We do all our big purchases across the river in tax-free Portland. I believe this is the best state border to live on. Except for all this !)@(#*$&%^ rain.
Pillar of the Community
United States
4008 Posts
 Posted 04/04/2012  5:02 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
Except for all this !)@(#*$&%^ rain.

Real North-Westerners LOVE the rain! It not only keeps the webbing between our fingers and toes from drying out, it serves as an outstanding barrier to Californians and other sun-loving critters. Without our "Shower Curtain", we would be inundated by those folks. On top of that, some of our citizens do not believe that our state was named in honor of George Washington. No, it's more like we're "washing a ton!" with all the rain water we have here. Store up water for an emergency? No need. Billions of tons of it fall from the sky for free each and every year!
Pillar of the Community
United States
3670 Posts
 Posted 04/04/2012  5:39 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list
I thought of you up there Ed when I saw that rain comment, lol. Way to turn what some may view a neg into a positive. In a real SHTF situation that water well from the sky will come in real handy as long as it is not contaminated....

I imagine back when Mt. St. Helen's blew if was not as pleasant of an environment, and the one thing you gotta watch out for. Of course if the super V under Yosemite blows were all done, as three feet of ash would cover the entire north American continent within three days. Not a good day to go out an breathe in the air, lol....
Pillar of the Community
United States
4008 Posts
 Posted 04/06/2012  5:55 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
Way to turn what some may view a neg into a positive.

We just about have to do that, Hawk. If not, then depression would be a bigger problem. Of course, we can always head east of the Cascades to get some sun. The deserts of eastern WA and OR can be very pleasant in the fall and spring, just when a short sun-break is needed!


Quote:
In a real SHTF situation that water well from the sky will come in real handy as long as it is not contaminated....

I agree, Hawk. We have no lack of water volume but water purification could be a problem. I can build a pretty decent sand filter that would remove dangerous particles but toxics and biologicals would require greater efforts. Having a pure and clean water supply is a must-have item in any SHTF scenario.


Quote:
I imagine back when Mt. St. Helen's blew if was not as pleasant of an environment

No, it was pretty messy back then. I remember the 1st time she blew. It was a Sunday morning... May 18th, 1980... around 0830. I was at work and felt a thump through the floor and all the glassware in the lab jingled a little bit. I called our plant control room to ask them if there were any problems in the plant. I thought at the time that there might have been a small explosion but they said that all was well. A few minutes after that, I saw this huge gray-white cloud going up in the sky to our east. It looked a lot like the smoke from a forest fire but was fairly dense and not spread out like a fire would be. About then we heard on the radio that the mountain had erupted, so that settled the issue of what was going on. The weird part was that the original blast was heard 160 miles away in Seattle but not anywhere within about 50 miles of the mountain. The sound from that supposedly created a donut type sound ring. Anyone inside the hole didn't hear it as the sound was directed upwards. Reflections off clouds and air masses of different temps reflected the sound back to the ground but farther away from the mountain than we were. The good news was that the prevailing winds at the time were from the west, so about 98% of that ash, smoke, and dust was blown towards eastern WA and ID.


Quote:
Of course if the super V under Yosemite blows were all done...

Don't know about Yosemite but there is a huge super volcano under Yellowstone that could be a really nasty problem someday. The west coast would do about as well as can be done in that case. The jet-stream blows from west to east, so practically all of the dust, smoke, ash, and gas from such an eruption would hit the mid-west and eastern US. That would be the worst of times for our country for sure. Hopefully, we won't have that problem any time in the foreseeable future.
Pillar of the Community
United States
3670 Posts
 Posted 04/07/2012  12:02 am  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list
I meant Yellowstone Ed, as for some reason I get those two confused....

Also, very interesting to hear about your work day when she blew. I find that doughnut theory sound ring fascinating....

Pillar of the Community
United States
4008 Posts
 Posted 04/07/2012  7:48 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
I find that doughnut theory sound ring fascinating....

Yes, it seemed kind of odd to us too but that is what the USGS scientists who were studying the mountain said about it.

A few weeks later, we got a terrific view of the next big eruption. This was not an explosion like the 1st one because the caldera was clear of solidified rock. That was there from the previous eruption about 150 years ago. It formed a plug that prevented any additional lava or ash flow... until it blew out that is. Anyway, it was a nice day and we decided to go for a drive. We were on a road that at one point has a clear view of Mt. St. Helens, which is about 40 miles NE of us. The mountain was erupting and huge clouds of very dark ash were boiling up out of the mountain to about 60,000 feet elevation. There was a tremendous deep rumbling sound like thunder only louder. We could feel the rumbling noise inside our chests. There was the continuous flickering of lightning bolts inside the ash cloud that made a lot of yellow and red flashes. It was the most awesome sight I have ever seen and I can easily understand how primitive people may have thought that they were in the presence of an angry god at such a time. I hope not to see this ever again but if I do, I want to be a good long way off from it. We were fortunate that the prevailing wind was to the east, so none of this ash came our way. We did get a little ash from much smaller eruptions a few weeks after this but it was only about 1/4" or so.


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