Buying at coin shops bad for your wallet?

Can you tell me where I can go to a flea market and get 18th century british tokens or 1794 large cents at reasonable prices? (Reasonable being not more than 15% above market price.)

And even at the flea market you are probably SUPPOSED to be paying the sales tax. So you are right back to the case of some one engaging in tax evasion.

 

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Not legally.

 

sure it depends on the person at a flea market, but i know a few i have repeatedly got good deals from and how good variety, and if you have to pay sales tax on the coins at a flea market, shouldnt you have to pay tax on everything you bought at a flea market?

 

Yes, but only those items that are taxable.

 

so how many people have been charged with a crime for doing this?

 

Many, I'm sure. States are really cracking down on sales tax and tobacco tax cheats lately. But if you want numbers, you'll have to research them your self.

 

Thats true, if your registered address with Ebay is in CA. They add taxed to ALL my purchases and sales there now automatically. Every time I buy online now they seem to all add CA taxes.

 

Conder and Rick nailed it. The only "correction" I would add is that CA allows exemptions from sellers having to register and remit taxes if they ONLY go to 2 or 3 shows a year in CA and have no other nexus. So, I am sure many dealers in CA shows do not charge sales taxes on purchases. However, any CA based dealer still would have to. Also, do not forget that even at con shows if the dealer does not charge you sales tax you are still legally responsible to pay use tax to the state.

That is the law. Now, I will admit I normally do not remit use taxes, most people don't, that is why the states are trying to change the law and force internet sellers to collect the taxes for them. Its simply impossible to go after all taxpayers, and easier to chase down the sellers.

Conder touched on this, but I would point out to LGL again the fact that in NO state are sellers responsible for this tax. NONE. Its illegal for states to tax sellers on the transaction, but acceptable to tax the transaction, make the buyer pay it, but simply have the sellers remit it. There is case law from the early 30's if you are curious why.

 

I go to a flea market in my area and always buy junk silver under spot from a guy and there are others who have decent coins as well. But unlike California I live in New Hampshire where we don't have a sales tax anyway so it makes buying easy for both seller and buyer.

 

There is a NY stock broker doing 8 years for it right now I am aware of. 8 years and had to pay triple the tax owed, as well as pay the bill for his incarceration.

States cannot go after every person who owes $50 obviously. However, it IS legally tax evasion, with any and all penalties associated with that crime if you are caught.

 

The same as any other stores... cash, credit, etc. I do know that their mail order businesses have taken great hits because of the shipping issues you mentioned, but for in-person transactions, it is only growing. The sell both national brands and produce their own, the latter of which cost less than the state tax off reservation.

 

Despite that, the buyer, if transporting those products to his or her home state, is still responsible to his/her state of residence for any excise and sales tax levied by that state.

 

we don’t have any good coin shops around me...wish i lived ina big city