Discussion in 'Bullion Investing' started by numist, Oct 4, 2023.
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Costco is 65 miles away.
Can you still checkout as a guest with a temporary card?
According to the article it is only available online and usually sells out quickly.
It looks like that link only applies to tax-exempt purchasers, not tax-exempt items.
I'd expect Costco to have their point-of-sale systems set up to understand local and state tax rates. Certainly when I was a Sam's Club member they did the right thing for food (taxed at 2% or less here) vs. general goods (7.5%). I can't speak to PMs, though, because (a) they weren't exempt at the time and (b) Sam's never sold them.
If you look at the form itself:
the gold ingots are only offered for sale online at costco.com - they aren't available for POS in one of their warehouse stores.
Ah, right, I'd forgotten that. Still, most other online retailers understand taxes well enough to comply with our intricate local laws. Heck, even our favorite punching-bag eBay implemented the change fairly quickly when NC law changed to exempt PMs and coins from sales tax. I'm surprised that Costco doesn't handle it properly in their online storefront.
FWIW, it seems to be a blanket policy for all goods at Costco. I don't know the reasoning for it.
as well very Leary when it comes to bars regardless of the source.
and here’s the message I got, what’s the point of it’s unavailable…LOL
why would you be leery of gold bars from one of the country's most well-regarded retailers? It's not you're buying gold from "Jim's Gold Shack & Grille"
They were never available at local warehouses. Only online (mail order) sales via costco.com
I wouldn't expect Costco to pass fake bars (knowingly or unknowingly). But when you go to sell those bars, you're just some guy with gold bars, and how does your potential buyer know you can be trusted? I mean, you could show your receipts from Costco, but how do you prove that you haven't swapped out the good bars for fakes?
Maybe a knowledgeable-enough buyer can distinguish fake bars as reliably as fake coins. To me, though, coins are easier to authenticate, and that makes them easier to move.
Of course, if you never intend to sell your gold, that probably doesn't matter. But in that case, does it really matter whether the gold is real in the first place? After all, a fake bar that you believe is real gives you the same tingly feeling as a real one...
Man, I started doing business in your state ten years ago…. I had to hire a lawyer to dissect the sales tax code up there and I still worry if I am properly complying. It’s a twenty page report we send up there every month with our sales tax payment….. Yes sir, you do have very intricate local levies and such.
Jim’s a good old boy!
I think they go by warehouse location and use
your membership to keep track, as they give
me the same not available message.
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