New Honey Hole For Old Pour Bars....

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Author	Replies: 18 / Views: 3,499	Page: of 2
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/04/2012 12:47 am So I decide to stop by one of our competitor stores today to see what they have for sale, if anything at all.... A local family owned jewelry store that has been in my area for years.... Low an behold I walk in an there is nothing but empty cases, minus one case which has a 2011 eagle with border an plastic case, a Canadian wolf, and two new silver bar 1 oz. sealed in plastic in a Silver-towne and Sunshine mint, standard versions.... But, there was a half dozen or so rectangles shaped RAW old school APMEX bars with like 4.4 oz. engraved .9999 for example up to like 10 oz. or so an some change on others..... They also had one of those huge eagle plates maybe one of the big 12 oz troy pounds, I did not ask not my cup of tea these days..... To the gist of this story, the guy selling seemed kind a crazy, named Dan. So crazy Dan was like.... "Man I just wish it would all finally end" And I was like what end, are you guys closing down I ask? "Heck no my wife owns this place she is the brains of the operation, her dad says gold has another run for four years until 2016, and then all these PM's should bottom out." I was like well none of us have a crystal ball and as smart as he may be, he could be way off. Gold was just at 250 back in 2000 and it is still treading water I say, yada yada yada eh, lol..... So Dan I say I am in no position to make a larger buy today how much for say the Silvertowne bar? "Thirty six bucks out the door total." I said sure sounds like a great deal, no tax an do ya take debit? "Thirty six total an cash only an I am here till 6 if you wanna come back." he says.... I tell him I am not gonna go to an ATM today an come back for just one once, but DEFINITELY coming back for some of those old pour bars in larger quantity.... He says the wife has bucket fulls of those, so don't worry about running out. We only put out a little he said, an then went into the paranoia story, lol.... Also told me their other store in a close local smaller town had all the good main stock, old graded Morgans an what not.... Three bucks over total all day on hard to find old pour bars that bring nice premiums on ebay, could be a profitable endeavor.... Edited by Silverhawk74 04/04/2012 12:52 am Report this Post to the Staff

Canadian-Banknotes Pillar of the Community Canada 4944 Posts	Posted 04/04/2012 01:08 am Sounds Like Quite a Find! Report this Post to the Staff
rgathright Valued Member United States 264 Posts	Posted 04/04/2012 06:31 am Quote: I said sure sounds like a great deal, no tax an do ya take debit? @Silverhawk74 How can you buy silver without tax in a store? Report this Post to the Staff
coincollect1 Pillar of the Community Canada 1731 Posts	Posted 04/04/2012 07:50 am all my silver is tax free... Well anything in the store is tax free. Nice Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 04/04/2012 11:37 am Quote: How can you buy silver without tax in a store? Many states do not charge sales tax on coins and precious metals Report this Post to the Staff
swrbxxx Pillar of the Community Canada 834 Posts	Posted 04/04/2012 12:16 pm 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. Report this Post to the Staff
coinwatch Pillar of the Community United States 808 Posts	Posted 04/04/2012 12:55 pm 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. Report this Post to the Staff
allranger Pillar of the Community United States 1391 Posts	Posted 04/04/2012 1:26 pm In my state I don't pay taxes on coins or bullion so I was a little suprised to see people asking about it. Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/04/2012 2:27 pm 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.... Report this Post to the Staff
rgathright Valued Member United States 264 Posts	Posted 04/04/2012 2:30 pm @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. Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/04/2012 2:37 pm 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..... Report this Post to the Staff
coinwatch Pillar of the Community United States 808 Posts	Posted 04/04/2012 3:06 pm 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 $10,000. I have heard that in certain instances, for example if a business suspects criminal or illegal activity, this form may be filed for smaller transactions. Report this Post to the Staff
coinwatch Pillar of the Community United States 808 Posts	Posted 04/04/2012 3:16 pm @allranger - No sales tax on coins and PMs? Outstanding! Report this Post to the Staff
SilverEye Valued Member United States 318 Posts	Posted 04/04/2012 4:39 pm I'm on the Washington / Oregon border. Oregon has no sales tax at all, Washington does not charge tax on PM's. Also, I live and work in Washington, and there's no state income tax here. We do all our big purchases across the river in tax-free Portland. I believe this is the best state border to live on. Except for all this !)@(#*$&%^ rain. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 04/04/2012 5:02 pm 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! Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 04/04/2012 5:39 pm 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.... Report this Post to the Staff
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