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re: Precious metals market
Posted on 11/21/13 at 12:28 pm to ThatsAFactJack
Posted on 11/21/13 at 12:28 pm to ThatsAFactJack
quote:
They don't charge tax if you pay cash and are usually about the same price as online
They charge tax here uless you spend $1000 or more. Said it is some sort of Govt rule but I am not sure about that
Posted on 11/21/13 at 1:54 pm to Crawdaddy
Each state has its own rule regarding taxing precious metals. My LCS has 2 seperate registers. If you pay cash it goes in the "old" register and they don't charge tax. I'm guessing they like to keep their "cash" income away from the IRS. There is a local burger joint my way that operates in similar fashion. When you go to pay they ask cash or charge, if you answer cash, they go to a "sp[ecial" register and dont charge tax. Your shop seems to prefer to operate exactly by the books.
Posted on 11/21/13 at 5:57 pm to ThatsAFactJack
Sorry if I'm asking dumb questions here, but are the markings going to make any difference here? I'm looking at markings such as Sunshine Mining. I'm figuring as said before, silver is silver, and I should probably got for lowers above spot. Just wanted to make sure though.
Posted on 11/21/13 at 7:01 pm to Crawdaddy
quote:
Some are predicting $15 by year end. Some forums talk is back to below $10
I have been waiting on silver to drop but wow. I may just continue to 'hold'.
quote:
Seems there are the hard core folks that believe PMs will save you
I know of some like this. Its been mentioned many times on the MT that PMs are nothing more than a 'store of value'
Posted on 11/21/13 at 7:03 pm to jmarto1
markings do not. Some "collectors" like certain coins, but I'm not in it for collecting.
I like name brand coins such as Sunshine, Silvertowne, and even others like APMEX and Provident (OPM) brand. Just buy low as you can. Some have higher premiums.
Then there are some coins that have no name but just images. Halloween coin, Coors light, etc.
Then there are the federal coins. Eagles, Maple Leafs, Phil Harmonics, etc. They are the highest as premiums go but seem to be the most recognized world wide
Just remember, when it is melted, it is all the same.
I like name brand coins such as Sunshine, Silvertowne, and even others like APMEX and Provident (OPM) brand. Just buy low as you can. Some have higher premiums.
Then there are some coins that have no name but just images. Halloween coin, Coors light, etc.
Then there are the federal coins. Eagles, Maple Leafs, Phil Harmonics, etc. They are the highest as premiums go but seem to be the most recognized world wide
Just remember, when it is melted, it is all the same.
Posted on 11/21/13 at 7:09 pm to Reubaltaich
quote:
nothing more than a 'store of value'
That is how I am looking at it or a diversification of portfolio. Since silver seems to be pretty low I don't mind on holding onto it for a few years and hopefully making a nice profit. Worst case scenario, I have currency for a SHTF scenario.
BTW, thanks Craw Daddy. I'll have to buy you a beer next time I'm in the dirty dell.
This post was edited on 11/21/13 at 7:10 pm
Posted on 11/21/13 at 7:43 pm to jmarto1
Myself, I avoid purchasing just silver rounds or a bar of silver, that is unless its at a good price.
I prefer something like a 'currency' like a Silver Eagle, or a Morgan or a Peace dollar, or a half, or a dime.
It would be easier to use in a true SHTF situation.
I buy silver coins more for collecting rather than a hedge against inflation or for profit.
I prefer something like a 'currency' like a Silver Eagle, or a Morgan or a Peace dollar, or a half, or a dime.
It would be easier to use in a true SHTF situation.
I buy silver coins more for collecting rather than a hedge against inflation or for profit.
Posted on 11/21/13 at 7:47 pm to Reubaltaich
I have some coins I collect but nothing really worth noting. I think the most valuable one I have is a 1921 Morgan Silver Dollar from my grandfather. More sentimental value than anything. He had a few silver quarters but and a 1929 buffalo head nickel (unfortunately no defects I can find).
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