Gold Bureau

Discussion in 'Bullion Investing' started by JBGood, Jul 7, 2012.

  1. areich

    areich America*s Darling

    Then you have a low bar or are math challenged.
     
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  3. areich

    areich America*s Darling

    NY state taxed at 9.5%

    http://www.sutexemptions.com/states/new-york-exemptions.html
     
  4. areich

    areich America*s Darling

    Effective September 1, 1989, precious metal bullion sold for investment is exempt from state and
    local sales and compensating use taxes imposed under section 1115(a)(27) of the Tax Law, when
    certain specified conditions are met.
    "Precious metal bullion" means bars, ingots or coins of gold, silver, platinum, palladium, rhodium,
    ruthenium or iridium. However, such bullion does not include coins of the Republic of South Africa
    or bars, ingots of coins that have been manufactured, processed, assembled, fabricated or used for
    an industrial, professional, esthetic or artistic purpose.
    For the exemption to apply:
    - the receipt or consideration given or contracted to be given for the bullion must depend only on
    the value of the metal content of the bullion; and
    - if applicable, the retailer must be registered as a broker or dealer with the New York Department
    of State pursuant to the provisions of section 359-e of the General Business Law.
    Precious metal bullion is sold for investment when the aggregate sale under a single invoice totals
    more than $1,000.00 and the purchaser or user, or the agent of either, holds the bullion in the same
    form as when purchased, without manufacturing, processing, assembling or fabricating the bullion.
    Sales of bullion for greater than $1,000.00 that do not depend on the value of the metal content and
    sales of bullion for less than $1,000.00 are subject to tax regardless of the purchaser's intent to hold
    the bullion as an investment. Any bullion purchased exempt under the new provision of law but later
    converted to self-use would be subject to $ sales or use tax, as the case may be.
    The receipt or consideration given or contracted to be given is deemed to depend only on the value
    of the metal content if, at the time of sale, the rece
     
  5. areich

    areich America*s Darling

  6. Loren McChesney

    Loren McChesney New Member

  7. fiatfiasco

    fiatfiasco Nasty Details Member

    I was curious, if you are the "rep" responsible for operating the username of your company, how many other employees does US Gold Bureau employ? They reference "offices" as in, plural or many, and yet, they say a majority of their sales are online, which is a little strange and contradictoy. Added cost. Added overhead. And the BBB and other public domain all say there is only 1 office, in Austin, TX. It really appears to be 3 guys; John, Mike and Matt.

    Also, I was curious if you have a personal name you use here on CoinTalk as well.
     
  8. Blaubart

    Blaubart Melt Value = 4.50

    Staples is closing down a bunch of their stores because most of their sales are now online. The fact that most of their business is now done online doesn't mean they should close all but one of one stores. Just sayin'
     
  9. desertgem

    desertgem Senior Errer Collecktor

    The last post from him on CT was July 2012, zombie thread. Don't expect much conversation.
     
  10. Blaubart

    Blaubart Melt Value = 4.50

    I don't think I'll be ordering from these guys any time soon, primarily because I am not in the market for a lot large enough to offset the shipping expense. I'm happy with the service I've received from Provident and I've had good luck buying on FeeBay, but I also like to see competition. I would rather look for reasons to buy from a competitor to Provident and AMPEX than find reasons not to.
     
  11. fiatfiasco

    fiatfiasco Nasty Details Member

    You believe these two businesses and corresponding business models have anything in common? As in, relevant similarities?
     
  12. Peter T Davis

    Peter T Davis Hammer at the Ready Moderator

    This is exactly why I always recommend to businesses who setup an account on CoinTalk (or any forum really) to use a more personal username. Doesn't have to be a real name like I use, but people really want to be talking to a person not a faceless entity.
     
  13. fiatfiasco

    fiatfiasco Nasty Details Member

    I am actually blushing
     
  14. Blaubart

    Blaubart Melt Value = 4.50

    In some regards, yes, as both organizations could very well choose to sell from brick and mortar storefronts and online while still having most of their sales be online. They don't have to be in the same business sector to have "relevant similarities".

    Maybe they do only have one business location that contains an office for John, an office for Mike, and an office for Matt (thus referring to them as "offices"), and maybe they only have those three employees, but I think it's also possible you're jumping to conclusions to find trivial reasons to discredit them.

    For me, here's the bottom line: Are they delivering on their promises? I don't have any reason to believe they aren't. Anyone who chooses to buy from them can decide if the price (including shipping) is right for them and I suspect the majority of them wouldn't care if there are three employees or a hundred, or if they have one office or ten.
     
  15. Blaubart

    Blaubart Melt Value = 4.50

    Just a quick note on comparing Provident and US Gold Bureau on a large order (one monster box of ASE), Provident is a better deal:

    USGB: $11,280 + $25 shipping = $11,305. That works out to $22.61 per ounce, or $3 over spot.

    Provident: $11,062 + $0 shipping = $11,062. That works out to $22.12 per ounce, or $2.51 over spot.

    If the $25 flat shipping on large orders is what makes them a better deal, then Provident would have to charge more than $243 for shipping. This doesn't mean US Gold Bureau is a bad business, it just means Provident is currently offering a better deal on a monster box of ASE.
     
    Peter T Davis likes this.
  16. fiatfiasco

    fiatfiasco Nasty Details Member

    I think you misunderstood my post. My post is inquisitive in nature; because upon first glance, there are several inconsistencies, or exaggerations, one or the other. That is all aside from a note on the BBB I have only seen on this one company. The BBB usually lists how many "open" and "closed" "cases" a company has. However, on this particular company, it had a separate section called "serious cases", of which, there were 2. I have a red flag up now. Then, I start reading their site, and I just find other little red flags.

    So my post wasn't to discredit them, but to encourage them utilizing this forum to clear the air for prospective buyers such as myself. In fact, with the comments such as "we make sense for clients who buy larger quantities and not 'a few silver' coins", I would be their prime candidate. My numismatic purchases are made wherever I can find them as they are not popular, one on ebay, one from my American gold dealer, one from my Canadian guy, another from Heritage. My bullion purchases are made with companies such as his, especially his, since even my bullion is in the form of MS graded double eagles, and they seem to have a decent amount at a decent price. Again, nothing stellar, but a candidate. At the moment, I am not a candidate however. I don't care if it is just three guys, just don't make it sound like you are a global metals distributor or the PM version of "Prestige Worldwide", or else, you start to look like a company rub by the brothers Dale Dobeck and Brennan Hough.
     
  17. Blaubart

    Blaubart Melt Value = 4.50

    I was just thinking it wasn't necessarily "strange and contradictory" that they may have more than one office and have the majority of their sales online.

    I did read through the two complaints on the BBB site for which details are available. It's hard to say who is in the right or who is in the wrong, but resolutions that were satisfactory to all the parties involved were reached. Most truly shady companies I've known don't even respond to BBB complaints.

    Some of their coins/bullion might be overpriced, or some people out there might not know the difference in value between different grades, or bullion coins versus proof coins. I don't know, so I try not to judge.
     
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