Bullion at shows

Discussion in 'Bullion Investing' started by JustSomeDude, Dec 18, 2020.

  1. serafino

    serafino Well-Known Member

    Because of Proposition 13 Property tax can only go up 2% per year in California as long as you own your home, unless you do major improvements that can change your assessment. It helps when you stay in your home for years. Here we will have new home owners paying over $10K per year and their next door neighbor can be paying $3K per year depending on when they bought their home. This was the result of a Calif. tax payer revolt in the late 1970's what led to Prop. 13. It was horrible before Prop 13, there were elderly who could not afford the high property tax increases each year.
     
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  3. JustSomeDude

    JustSomeDude New Member

    I saw a show listed somewhere that made it a point to be know that “You must show your ID for entry”.

    Can anyone tell me why they are so adamant about that?
     
  4. FryDaddyJr

    FryDaddyJr Junior Member

    how do dealers make up the money they paid sales on tax on for bullion?
     
  5. -jeffB

    -jeffB Greshams LEO Supporter

    Presumably by having offered less to the seller for it.
     
  6. FryDaddyJr

    FryDaddyJr Junior Member


    I'm thinking of people who buy from mints
     
  7. Scuba4fun777

    Scuba4fun777 Well-Known Member

    Anything is negotiable, especially at a coin show. If you find identical items priced lower, tell them - but be honest. Most people don’t buy a table there to NOT sell their goods.
     
  8. -jeffB

    -jeffB Greshams LEO Supporter

    Ah, so you're talking about "authorized dealers" that buy bullion from the Mint and resell it? In that case, (a) purchases for resale are generally exempt from sales tax (as I understand it), and (b) US Mint purchases are never subject to state sales taxes.
     
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    I've run into dealers that say my price is on the coin. They refuse to come down or offer a discount so what do I do? Walk away. Most dealers at shows are honest and willing to work with you to sell a coin. There are others that mark their coins up for the show. I ran into one dealer at a show and he had a coin I needed. The only problem was there were 2 prices on the coin. When I asked he replied that the higher price was the show price but I could have the coin at the lower, shop price. No thank you.
     
  10. Jim Dale

    Jim Dale Well-Known Member

    I live in the country in North Carolina. I don't belong to any clubs because everything is so far away. I live about 1.5 hours to get to Raleigh. I can't drive long distances due to an accident that has left me disabled. The only ways I can find out about any items to sell is due to Coin magazines and dumb TV sales. I do watch ebay coins sales and look at the Red Book for prices. I don't like auctions. I do like to watch Rick and his sales. Last night he was selling 1908 Saint Gaudens NGC MS63 for about $2,900 each. I bought once from Mike. Most of my coins came from my father's will. I buy some coins from the Mint, but selectively.
    So, as you see, I don't buy alot of gold or silver coins, but I do like to watch.
     
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  11. -jeffB

    -jeffB Greshams LEO Supporter

    I don't know whether you're east, west, or south of Raleigh (1.5 hours north would put you in VA), but when I search for coin shows in NC, I see ones that are held in more rural areas. Once things open back up, you might check out that possibility -- shows don't happen that often, but it's possible you might find one that's more accessible.
     
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  12. Bradley Trotter

    Bradley Trotter Well-Known Member

    If I recall correctly, Jacksonville and Wilmington used to host regular coin, and currency shows prior to COVID-19. However, being 1.5 hours from Raleigh can put you pretty much anywhere in the state.
     
  13. Mr.Q

    Mr.Q Well-Known Member

    Las Vegas Nevada shows have it all, anything you want will be exhibited. One flight there and make sure you have a round trip ticket. You could leave a lot of your hard earned cash there, just make sure most is spent on what you came there for! Good luck and Happy New Year.
     
  14. harrync

    harrync Well-Known Member

    The problem with prop 13 is that it helps those who don't need help, especially corporations, as well as those who do. I lived in Michigan about 40 years ago, and their method was much more logical. [Don't know if it has changed since then.] Everyone assessed at full market value, billed the same tax rate, but seniors could get a huge rebate [sometimes over 50%], depending on age and income. I never heard any complaints about old people loosing their homes, so I guess it worked OK.

    You might say homes haven't increased in MI as much as CA - true. But the house I bought in 1975 for $80,000, and sold ten years later for $200,000, now zillows at $950,000.
     
    Last edited: Dec 30, 2020
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  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I went to FUN and the prices were very reasonable.
     
  16. slackaction1

    slackaction1 Supporter! Supporter

    wow.. harrync you should collect houses..
     
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  17. -jeffB

    -jeffB Greshams LEO Supporter

    Yeah, but they're so hard to cram into the SDB...
     
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  18. harrync

    harrync Well-Known Member

    Right - I've lost money selling a coin, but never lost money selling a house. But as jeffB says, they are hard to store. That's why I now have a condo.
     
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  19. john65999

    john65999 Well-Known Member

    and for what reason...is totally unknown, lol i do scrapping as well as my other business concerns, and copper hovers near 3-4.00 at most times, so why is an ounce of it 3.00???? dunno, don't care, will never buy any (except for a montezuma calendar mayan i bought years ago for the look of it)...
     
  20. john65999

    john65999 Well-Known Member

    democratic state?? correct?? min too i live in tax-a chussettes , otherwise known as connecticut, lol
     
  21. rte

    rte Well-Known Member

    You asked a question in the first sentence.
    You answer that question in the last sentence.
    Copper is priced with the added cool factor.
     
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