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 Replies: 40 / Views: 7,409 |
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Pillar of the Community
United States
996 Posts |
It is NOT illegal for your employer to pay you in ASE's, they are legal tender for their face value. Of course he would be a fool for doing so... |
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Pillar of the Community
United States
4901 Posts |
1) you bought the coins singularly online at a cost of $8 over spot. 2) you would pay the same $8 over spot no matter what the date is or what spot is so WHEN (2013, 2014, 2015) you bought them is irrelevant. 3) how did the price of gas get convoluted into the price when you are buying online NOT a local dealer.  4) you had two choices...pay $3 over spot per coin for a Mint roll of ASE's ($60 premium over spot WHATEVER spot is on that day) OR pay $8 over spot each day for 20 days ($160 premium over spot WHATEVER spot is on each day). Just sayin' door #1 makes more sense to me but everyone is different I guess and it is fun to get mail every day. 5) I bought mutual fund shares for my 403-B with part of my salary but I don't have them take out a single share every day. It's fine with me to just to transfer the money every two weeks...I also have bought 2 Mint rolls of ASE's every year since 1986 (actually only one roll for the first 4 years) 6) maybe next time try your daily mail investment technique at a time other than the Xmas holiday mail crunch. You might have better results. Happy investing....  Edited by Foxwoods Man
05/25/2015 07:39 am
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Valued Member
United States
99 Posts |
https://www.stgeorgeutah.com/news/a....VWOdz0Y8KJJ1. I guess yeah about $8 each coin 2. Actually the premium on the ASE ranged from $3-4 back when spot was high in the $30-40 and spot price is around $4-5 at the LCS now when spot is low in $10-20s 3. If I paid spot+premium I am still missing the transportation cost to have the coin in my hand, either through postal mail or transportation with vehicle Free shipping is actually calculated as part of purchase price if you know anything about business and is also a itemized tax item since you raised the price to be free shipping so the extra money can cover the shipping cost and gets itemized in tax returns to reduce tax liabilities. 4. I guess no one ever pays attention my goal is to get a silver eagle every day after work. Not save up for 20 days and buy a roll. How can I buy a roll of if my daily wage can only afford a single coin, not a roll? Talking about purchasing more than one earns makes no sense because that option is not available! 5. That's nice, irreventant, to this. You still had to deposit money first into your mutual fund and save up. If I said I saved up 20 days of work money and purchae 20 silver eagles each day afterwards, yeah that's stupid. But that's not the case, you are not saving up here. I am making a daily purchas after earning my daily wage which makes anyone who talks about saving up sound dumb when it was never the point to save up to purchase in bulk. 6 I actually started back in early November, didn't know they started Xmas so early.
Edited by iamwayne
05/25/2015 6:30 pm
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Pillar of the Community
United States
1272 Posts |
The point is you could have had more ASEs if you bought them all at once.
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Pillar of the Community
United States
4901 Posts |
 Wow... Quote:
How can I buy a roll of if my daily wage can only afford a single coin, not a roll? Talking about purchasing more than one earns makes no sense because that option is not available! Well...you could open something called a bank account, put part of your "daily wage" in it, and, after 20 days buy a roll..and have $100 left over. Available...and actually quite common. Quote:
5. That's nice, irreventant, to this. You still had to deposit money first into your mutual fund and save up. If I said I saved up 20 days of work money and purchae 20 silver eagles each day afterwards, yeah that's stupid. No..It is taken directly out of my "weekly wage" and purchase made...no advance deposit needed..and FAR from "stupid" and they way the quite a few invest....and the "saving up for 20 days" thing and calling it stupid tells me a lot...forget the above point. Quote:
But that's not the case, you are not saving up here. I am making a daily purchas after earning my daily wage which makes anyone who talks about saving up sound dumb when it was never the point to save up to purchase in bulk I understand now that it never crossed your mind to actually pay MUCH less for what you were purchasing...understood and pointless for me to comment any further. Quote:
6 I actually started back in early November, didn't know they started Xmas so early. Just a reference to your cut and paste from 12/6 to 12/25. Knowing that it actually went on for a longer period of time makes it even worse.... Thread hijacked...sorry...my original point was that MCM is a fine company and I'm sticking to it  Edited by Foxwoods Man
05/26/2015 08:08 am
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Pillar of the Community
United States
1913 Posts |
Quote:
How can I buy a roll of if my daily wage can only afford a single coin, not a roll? 1) Do they literally pay you every day that you work? Or, do you get paid on a periodic basis like once a week or every other week? 2) How do you ever afford anything, like a car, that costs more than your daily wage or pay an electric bill that you receive once per month? Please understand that I'm not trying to be insulting here. If your knowledge of economics doesn't include basic concepts like saving, buying in bulk to save money and shipping is never "free", then investing in silver is way beyond your economic knowledge level. Heck, there are people who know everything there is to know about investing that still lose money. There's definitely nothing wrong with holding back while you learn. BTW, I agree that getting a package every day is fun, but realize that you're paying for that entertainment. |
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Pillar of the Community
United States
996 Posts |
First off the "news" article you posted is an opinion piece, not real news. The guy didn't pay his employment taxes or his employees withholding, that is tax fraud. The fact that he paid the wages in silver and gold coin is immaterial to the reasons he was arrested.
As for your reasons for method of purchase, that is your business. If you want to buy one a day and that works for you then go for it. It might cost more money than buying a bunch at a time but it is your money and more power to ya!
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Pillar of the Community
United States
3789 Posts |
@foxwoods you mention that "my original point was that MCM is a fine company and I'm sticking to it". I dont know if I can agree 100% with that statement, I wish I could. They sold me, on several occasions, and without making it known, coins they had auctions for on ebay had milk spots and these were graded slabbed coins. All they had in the description was you were bidding on a graded slab, (insert the company name and grade) once it was a 25th anniversary maple leaf, another time it was a Rwanda series coin... That to me, was pretty disingenuous to not mention the milk spots at all in auction and then they dont offer an exchange because they dont offer returns on bullion. so I personally I cant say they are exactly "fine". |
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Pillar of the Community
United States
4901 Posts |
That's understandable....
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Pillar of the Community
United States
1913 Posts |
Quote:
First off the "news" article you posted is an opinion piece, not real news. The guy didn't pay his employment taxes or his employees withholding, that is tax fraud. The fact that he paid the wages in silver and gold coin is immaterial to the reasons he was arrested. If he paid people as independent contractors when they should have been employees (per the IRS guidelines), then the law considers it tax fraud. Paying people at face value is another issue. If the purchased the bullion and then expensed the full cost, he can't turn around and pay them at face along with the associated taxes based on face. On the other hand, if he purchased the bullion and then only expensed the face value, he should be good to go. Either way, whoever got paid in bullion and then sold it would owe taxes on the difference between the sale price and face value. The theme of the article about him being a victim of the government wanting to cover up fiat currency may or may not be valid depending on the details which are not disclosed in the article. |
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Posted 05/25/2015 07:35 am
